NAC319.834. Yield on loans.

     1. Loans to conserve energy sold to the Division must bear interest at rates and be sold to the Division at prices which, in the aggregate, produce a yield to the Division which is sufficient to:

     (a) Pay interest on the principal of the related issue of the Division’s bonds or other obligations;

     (b) Provide adequate reserves for the holders of the Division’s bonds or other obligations whenever the reserves are necessary;

     (c) Cover the costs of the Division for operating the program; and

     (d) Meet or exceed the minimum yield required by the general certificate or trust indenture governing the series of bonds.

     2. The yield on a loan to conserve energy must not exceed the maximum yield permitted by 26 U.S.C. §§ 141 to 149, inclusive, and applicable regulations of the United States Treasury Department.

     (Added to NAC by Housing Div., eff. 12-16-82; A 4-13-88)