The state board of finance may prescribe those terms and conditions it deems proper with respect to the repayment of any loan and the application of the proceeds of the loan, and it may require or waive security by way of the pledge of revenues or otherwise and may require or waive interest, as the board determines proper under the circumstances.
History: 1953 Comp., § 11-1-1.2, enacted by Laws 1959, ch. 139, § 2; 1973, ch. 92, § 2.