§ 3.1-69. (Repealed effective October 1, 2008) Authorization by Governor; limitations on amount; commitments ...
If the Governor deems it advisable, he may authorize such loan, provided that no such loan shall be in excess of 33 1/3 percent of the cost of the site and the cost of constructing such market nor shall any such loan in any event exceed $300,000, and provided further that in no case shall the borrower obtain from sources other than the Produce Market Loan Fund less than $100,000 of the estimated costs of such market.
After the Governor has authorized any such loan, no transfer of funds shall actually take place until the borrower shall have firm commitments for all of the remaining funds needed to construct the wholesale produce market.
(Code 1950, § 3-79.23; 1954, c. 453; 1966, c. 702.)
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