1-19A-13.3 Amount of loans and grants--Interest rate--Extensions and renewals--Amounts available for ...
Amount of loans and grants--Interest rate--Extensions and renewals--Amounts
available for structures with public use.
Loans and grants may be made from the loan and grant fund
by the State Historical Society Board of Trustees to individuals, corporations, or historical
organizations for up to ninety percent of the cost of purchase, restoration, and development of a
structure. Loans shall be made at an annual interest rate of one-fourth the prime interest rate at the
time the loan is made. The maximum amount of a loan for any one structure is twenty-five thousand
dollars. Loans may not be extended beyond a three-year period, nor may they be renewed. Loans and
grants may be made to nonprofit historical organizations, municipalities, and other local
governmental entities for the full cost of purchase, restoration, and development of structures that
will have a public use.
Source: SL 1977, ch 19, § 3; SL 1994, ch 332, § 4; SL 2002, ch 14, § 1.