(a) The authority may


(1) accept United States Economic Development Administration revolving fund grants;


(2) make loans to eligible applicants under the United States Economic Development Administration Long-Term Economic Deterioration (LTED) and Sudden and Severe Economic Dislocation (SSED) programs;


(3) designate agents and delegate powers to them as necessary;


(4) adopt regulations necessary to carry out its functions and to administer programs under United States Economic Development Administration guidelines, including regulations to establish reasonable fees for services provided;


(5) establish amortization plans for the repayment of loans that may include extensions; and


(6) charge and collect the fees established under this subsection.


(b) [Repealed, Sec. 28 ch 90 SLA 1991].