Maturity of Loans

Section 365 Section 365.602  Maturity of Loans The maximum maturity of a Loan to be made by the Authority for permanent financing of multi-family rental housing under this Program shall not exceed 40 years and may be shorter at the sole discretion of the Authority.  In determining the term of a Loan, the Authority shall take into account its: a)         ability to pay when due the principal (including any sinking fund installments) and interest on any Bonds or Notes; b)         ability to purchase or redeem any Bonds and to comply with the requirements of the Resolution and Series Resolution authorizing any Bonds; c)         ability to comply with the terms and provisions of any Notes; d)         the feasibility of the proposed Development; e)         the financial integrity of the Program; f)         the requirements of applicable State and Federal law; and g)         any other relevant factors.