Minnesota Administrative Rules
Agency 170 - Public Facilities Authority
Chapter 7380 - LOAN PROGRAMS
DRINKING WATER REVOLVING FUND
Part 7380.0277 - MARKET CONSIDERATIONS
Universal Citation: MN Rules 7380.0277
Current through Register Vol. 49, No. 13, September 23, 2024
Subpart 1. Market adjustments.
If the authority determines that market conditions are such that interest rates calculated under part 7380.0272 are noncompetitive, the authority has the option to establish a temporary market adjustment discount in addition to the other interest rate discounts established under part 7380.0272.
Subp. 2. Suspension of loans.
A. The executive director, acting on behalf
of the authority, shall suspend offering loans if it is determined that there
are extreme or unusual events impacting the bond market and that to continue
making loans under existing terms, conditions, and interest rates would be
detrimental to the authority's bondholders or the financial viability of the
fund.
B. If loans are suspended
under item A, the authority shall have the option to resume making loans under
existing criteria or reset the criteria and the means by which it will
determine loan terms, conditions, and interest rates that will be
offered.
Statutory Authority: MS s 446A.07; 446A.081; 446A.11
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