Delaware § 7422 Small Retail Gasoline Station Assistance Loan Fund; source of funds, interest rate, and capitalization

Delaware Statutes

§ 7422 — Small Retail Gasoline Station Assistance Loan Fund; source of funds, interest rate, and capitalization

Delaware·Title 7·Part Natural Resources·Ch. 74 DELAWARE UNDERGROUND STORAGE TANK ACT·Subch. Small Retail Gasoline Station Assistance Program

(a)Loan proceeds and the State’s expenses in administering this program shall be drawn from a special account of the Transportation Trust Fund known as the “Small Retail Gasoline Station Assistance Loan Fund,” hereinafter referred to as the “Small Station Fund.”

(b)Loans made from the Small Station Fund shall require interest payments at a simple interest rate which is 2% above the Federal Reserve discount rate in effect at the time the loan application is filed with the Department.

(c)The Small Station Fund account shall be capitalized in an amount not to exceed $12 million over the life of the program out of funds of the Transportation Trust Fund as authorized by Chapter 14 of Title 2.

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(a) Loan proceeds and the State’s expenses in administering this program shall be drawn from a special account of the Transportation Trust Fund known as the “Small Retail Gasoline Station Assistance Loan Fund,” hereinafter referred to as the “Small Station Fund.”

(b) Loans made from the Small Station Fund shall require interest payments at a simple interest rate which is 2% above the Federal Reserve discount rate in effect at the time the loan application is filed with the Department.

(c) The Small Station Fund account shall be capitalized in an amount not to exceed $12 million over the life of the program out of funds of the Transportation Trust Fund as authorized by Chapter 14 of Title 2.

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