(a) A contract for a loan may not provide for a moratorium on the payment of the principal of, or interest on, the loan.
(b) Any loan made pursuant to Section 79149.4 shall be for a period not to exceed 20 years.
(c) The board may enter into a contract for a loan amount that equals up to 100 percent of the total eligible cost of design and construction of an eligible seawater intrusion control project.