Loan terms.
Neb. Rev. Stat. § 71-5325
in effect71-5325. Loan terms.
Loan terms shall include, but not be limited to, the following:
(1) The term of the loan shall not exceed thirty years, except for systems serving disadvantaged communities which term may not exceed forty years;
(2) The interest rate shall be at or below market interest rates;
(3) The annual principal and interest payment shall commence not later than one year after completion of any project; and
(4) The loan recipient shall immediately repay any loan when a grant has been received which covers costs provided for by such loan.
Laws 1997, LB 517, § 14; Laws 2019, LB307, § 3.
Source: Nebraska Legislature (nebraskalegislature.gov)URL: https://nebraskalegislature.gov/laws/statutes.php?statute=71-5325Fetched: 10/20/2026
