(a) The authority may
(1) accept United States Economic Development Administration revolving fund grants;
(2) make loans to eligible applicants under the United States Economic Development Administration Long-Term Economic Deterioration (LTED) and Sudden and Severe Economic Dislocation (SSED) programs;
(3) designate agents and delegate powers to them as necessary;
(4) adopt regulations necessary to carry out its functions and to administer programs under United States Economic Development Administration guidelines, including regulations to establish reasonable fees for services provided;
(5) establish amortization plans for the repayment of loans that may include extensions; and
(6) charge and collect the fees established under this subsection.
(b) [Repealed, § 28 ch 90 SLA 1991.]
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