South Carolina Code of Regulations
Chapter 68 - SOUTH CAROLINA JOBS--ECONOMIC DEVELOPMENT AUTHORITY
68-20 - Terms of Loan Agreements.
68-20. Terms of Loan Agreements.
A. The terms of Community Development Block Grant loans made by the Jobs-Economic Development Authority will vary according to individual project needs but will not exceed 15 years in length. Loans financed with economic development bonds, shall have a maximum term of forty years.
B. All loan documents pursuant to which the Jobs-Economic Development Authority makes loans may contain such terms and conditions as are customary for transactions of such character and as the officers signing such documents deemed reasonable or prudent and as may be required by the Board of Directors in any resolution authorizing such loan.