§ 50.23. LOAN FEES AND INTEREST RATES; DEFERRALS AND WAIVERS.

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A one percent loan fee on the principal of the loan shall be levied for all loans made under this Chapter. An interest rate of three percent simple interest shall also be levied by the Director.
In individual cases of documented hardship, the Director may either waive payment of the loan fee or defer it until the termination of the loan. The Director shall promulgate rules and regulations which shall be applied in making determinations of such waivers and deferrals.
(Added by Ord. 69-84, App. 2/15/84)

                    
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