(2) The repayment schedule of the loan, which must provide that no payments are due during the first two (2) years of the loan.(3) A variable rate of interest to be determined by the department and adjusted annually. The interest rate must be the greater of:(A) five percent (5%); or(B) two-thirds (2/3) of the interest rate for fifty-two (52) week United States Treasury bills on the anniversary date of the loan, but not to exceed ten percent (10%).(4) The amount of the loan.(5) Any other conditions specified by the department.As added by P.L.34-1990, SEC.2.
Indiana Legal Code