Added by Stats. 1996, Ch. 135, Sec. 1. Approved in Proposition 204 at the November 5, 1996, election.
(a)A contract for a loan may not provide for a moratorium on the payment of the principal of, or interest on, the loan.
(b)Any loan made pursuant to Section 78622 shall be for a period not to exceed 20 years.
(c)The board may enter into a contract for a loan of up to 100 percent of the total eligible cost of design and construction of an eligible recycling project.
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