Section 220.302  Yield on Mortgage Loans

Mortgage Loans sold to the Authority shall bear interest at such rate or rates, be repayable in such principal amounts, and be sold to the Authority at such price or prices which in the aggregate shall produce revenues to the Authority with respect to such Mortgage Loans which shall at least be sufficient to enable the Authority to pay when due the principal of and interest on the Authority's Bonds issued to finance such Mortgage Loans, to pay costs related to the issuance of such Bonds, and to pay the Authority's expenses of administering the Program.  In no event, however, shall the yield on such Mortgage Loans exceed the maximum permitted by application of the provisions of Sections 103(c) and 103A of the Internal Revenue Code of 1954 as amended from time to time and applicable regulations promulgated by the Treasury Department thereunder.