(1) The investment program may provide financial assistance to an eligible entity to pay for all or part of the eligible cost of an eligible project. The investment program may require the eligible entity to enter into a financing agreement in connection with its financial assistance obligation. (2) The commission shall determine the form and content of such financing agreement and financial assistance obligations, including the term and rate or rates of interest on a financing agreement. (3) The terms and conditions of financial assistance from any federal account shall comply with applicable federal requirements.
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