§ 1167 — Financial assistance; recipients

§ 1167. Financial assistance; recipients. The corporation may\nprovide financial assistance to recipients pursuant to paragraph (a) of\nsubdivision four of section twelve hundred eighty-five-m of the public\nauthorities law from any available moneys in the fund other than the\nproceeds of the corporation's bonds or notes or moneys needed to comply\nwith subdivision five of section twelve hundred eighty-five-m of the\npublic authorities law if and to the extent the corporation determines\nthat it is unable to, or that it is impractical or inadvisable to,\nfinance all or a portion of the costs of an eligible project from the\nproceeds of bonds or notes that are special obligations of the\ncorporation.\n The interest rate charged on any loan made by the corporation pursuant\nto this section shall be such interest rate as determined by the\ncorporation (including a zero percent rate of interest), but shall in\nany event be no more than two-thirds of the market rate of interest\notherwise applicable thereto.\n