SECTION 371.36. Multi-year Commitments

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(a) Commitment periods may be set for a period of up to five years. The minimum interest rate reduction for multi-year commitments will be established for the five-year period based on the interest rate reduction prescribed in the IUP for the first year's commitment.
(b) This option is only available for projects as described in the IUP.
(c) Any entity receiving a multi-year commitment must annually re-confirm its anticipated funding commitments established with the initial commitment.

Source Note: The provisions of this §371.36 adopted to be effective July 4, 2016, 41 TexReg 4844; amended to be effective June 10, 2020, 45 TexReg 3863

                    
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