Repayment Amount. District agrees to pay to the State the amount of the Debt Service Payment(s) (the “Advance”), which shall accrue interest at the rate of [insert percent] which represents the costs of funds to the State (the “Interest”) plus [insert amount] that represents penalties and costs to the State authorized under ORS 328.346 (the “State’s Costs”) on or before [insert date] (the “Final Due Date”). Interest on the outstanding Advance shall be computed on the basis of a 360 day year, consisting or twelve (12) thirty-day (30 day) months.
Appears in 2 contracts
Sources: School Bond Guaranty Repayment Agreement, School Bond Guaranty Repayment Agreement