Utah Code 63A-3-205. Revolving loan funds — Standards and procedures

(1) As used in this section, “revolving loan fund” means:

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Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}

(1)(a) the Water Resources Conservation and Development Fund, created in Section 73-10-24;

(1)(b) the Water Resources Construction Fund, created in Section 73-10-8;

(1)(c) the Water Resources Cities Water Loan Fund, created in Section 73-10-22;

(1)(e) the Water Development Security Fund and its subaccounts, created in Section 73-10c-5;

(1)(f) the Agriculture Resource Development Fund, created in Section 4-18-106;

(1)(g) the Utah Rural Rehabilitation Fund, created in Section 4-19-105;

(1)(h) the Permanent Community Impact Fund, created in Section 35A-8-303;

(1)(i) the Petroleum Storage Tank Fund, created in Section 19-6-409;

(1)(j) the Uintah Basin Revitalization Fund, created in Section 35A-8-1602;

(1)(k) the Navajo Revitalization Fund, created in Section 35A-8-1704; and

(1)(l) the Energy Efficiency Fund, created in Section 11-45-201.

(2) The division shall for each revolving loan fund make rules establishing standards and procedures governing:

(2)(a) payment schedules and due dates;

(2)(b) interest rate effective dates;

(2)(c) loan documentation requirements; and

(2)(d) interest rate calculation requirements.