| (a) Form of agreement. An agreement evidencing a loan
may be in the form of:
(1) a contract or similar document;
(2) a bond, note, or other obligation issued by the
applicant; or
(3) a loan structure similar to a line of credit.
(b) Negotiation of terms. The executive director will
negotiate the terms of an agreement as necessary to comply with any
requirements of commission approval. An agreement must include the
terms required by this subchapter and by Transportation Code, §56.003(a),
as applicable to a particular project, and may include other terms.
(c) Prepayments. Principal and interest may be prepaid.
The agreement will provide the prepayment terms.
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