Statutes, codes, and regulations
Virginia Administrative Code
Title 13 - HOUSINGAgency 10 - VIRGINIA HOUSING DEVELOPMENT AUTHORITYChapter 120 - RULES AND REGULATIONS FOR REACH VIRGINIA
Part III - Terms of Loans and Interest Rates
Section 13VAC10-120-50 - Interest rates

13 Va. Admin. Code § 10-120-50

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Current through Register Vol. 41, No. 9, December 16, 2024
Section 13VAC10-120-50 - Interest rates

The interest rate on loans shall be determined from time to time by the authority. Such interest rates are expected to be lower than those which would be available from other sources and, at the same time, will provide continuing support for the authority's currently outstanding and future bond issues. The authority realizes that loans will have higher risks than alternative investments and will have little or no liquidity. If deemed necessary, all or a portion of the principal payments on loans may be deferred by the authority.

13 Va. Admin. Code § 10-120-50

Derived from VR400-02-0012 § 3.2, eff. August 18, 1987; amended, Virginia Register Volume 4, Issue 12, eff. February 16, 1988; Volume 4, Issue 23, eff. July 19, 1988; Volume 5, Issue 21, eff. July 1, 1989; Volume 23, Issue 5, eff. November 1, 2006.

Statutory Authority

§ 36-55.30:3 of the Code of Virginia.