{"data":{"id":"us-pa/12-pa.c.s.-3905","jurisdiction":"us-pa","citation":"12 Pa.C.S. § 3905","heading":"Award and administration of loans.","body":"(a) Award.--\n(1) Upon being notified that a loan has been approved under 64 Pa.C.S. § 1558(d) (relating to Water Supply and Wastewater Infrastructure Program) for an applicant, the department shall enter into a contract with the applicant. The contract shall be for the amount approved and shall specify the terms of the loan in accordance with all of the following:\n(i) A loan shall be at an interest rate not to exceed 2%.\n(ii) A loan shall be for a term not to exceed 20 years.\n(2) Upon entering into a contract with the applicant, the department shall award the loan for the amount specified in the contract.\n(b) Administration.--Loans made under this section shall be administered by the department. Loan payments received by the department for a loan awarded under this section shall be deposited in the General Fund.","path":["Title 12 - COMMERCE AND TRADE","PART III ECONOMIC DEVELOPMENT PROGRAMS","CHAPTER 39 WATER SUPPLY AND WASTEWATER INFRASTRUCTURE CAPITALIZATION"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=12\u0026div=0\u0026chpt=39\u0026sctn=5\u0026subsctn=0","current_through":"2026-08-31 (Statute Update stamp, 12 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:30:58Z","sha256":"2f73b926dfaddf70258cc708ec60a8bb669239f94c3f6d785e26eec50b63ed1e","source_id":"us-pa","stale":false,"prev":"us-pa/12-pa.c.s.-3904","next":"us-pa/12-pa.c.s.-3906"},"notice":"GroundRules: Original legal text. Not legal advice."}