R.C.S.A. § 32-116-6
Loan procedures (Repealed)
Cite as Conn. Agencies Regs. § 32-116-6
(a) Subject to the provisions of Section 7 of the Act, the Commissioner shall charge and
collect interest on each infrastructure development economic assistance loan. In establishing
both the interest rate and the term of each loan, the Commissioner shall take into
consideration the general financial conditions of the municipality, the tax revenues
to be generated by the project and the relative cost of the project.
(b) No loan may be made to a municipality unless the municipality pledges its full faith
and credit for the payment of the principal thereof and interest thereon.