Loans - Grants

(a) With approval of the Division of Environmental Quality, the Arkansas Development Finance Authority may: (1) Make secured or unsecured loans from the Brownfield Revolving Loan Fund; (2) Award grants from the fund; (3) Collect interest on any loans issued; and (4) Assess penalties on late loan payments. (b) Loans issued under this subchapter may contain an acceleration clause. Amended by Act 2019, No. 910,§ 3050, eff. 7/1/2019. Acts 2003, No. 1194, § 1. (a) With approval of the Division of Environmental Quality, the Arkansas Development Finance Authority may: (1) Make secured or unsecured loans from the Brownfield Revolving Loan Fund; (2) Award grants from the fund; (3) Collect interest on any loans issued; and (4) Assess penalties on late loan payments. (1) Make secured or unsecured loans from the Brownfield Revolving Loan Fund; (2) Award grants from the fund; (3) Collect interest on any loans issued; and (4) Assess penalties on late loan payments. (b) Loans issued under this subchapter may contain an acceleration clause. Amended by Act 2019, No. 910,§ 3050, eff. 7/1/2019. Acts 2003, No. 1194, § 1.