About 2423 loan
About 2423 loan
Blog Article
Topic to The supply of appropriations, the Secretary may well make accessible to lenders to get a undertaking Assembly the eligibility standards recognized in portion 2422 of the title loan guarantees to complement private-sector or lender financing for your undertaking.
Should the Secretary would make a payment below subsection (a), the Secretary shall be subrogated into the rights of your recipient of your payment as specified in the loan assurance or associated agreements, together with, as proper, the authority (notwithstanding another provision of law) to—
All new projects or services made in accordance using this type of subchapter shall continue being under the jurisdiction and Charge of the non-Federal borrower subject to your terms with the repayment agreement.
There are actually approved to generally be appropriated this sort of sums as are necessary to perform this subchapter, to stay available right up until expended.
An obligation shall bear fascination at a level that doesn't exceed a level which the Secretary decides to become appropriate, taking into account the prevailing level of fascination within the non-public sector for related loans and dangers.
(i) that may be licensed by Federal reclamation legislation and made by The us below this kind of regulation; or
(a) Authority Subject matter to the availability of appropriations, the Secretary might make accessible to lenders for any project Assembly the eligibility conditions established in part 2422 of this title loan ensures to supplement personal-sector or lender funding for the task.
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The Secretary shall build and publish from the Federal Sign up criteria for figuring out the eligibility of a undertaking for money aid under section 2423 of this title.
Any prepayment or refinancing phrases over a loan warranty shall be negotiated in between the non-Federal borrower along with the lender While using the consent from the Secretary.
With respect to any obligation assured underneath this section, the Secretary may possibly enter right into a deal to pay for, and spend, holders with the obligation, for and on behalf of the non-Federal borrower, from funds appropriated for that function, the principal and fascination payments that become due and payable within the unpaid harmony with the obligation if the Secretary finds that—
(2) the administration of any loan confirmed beneath this subchapter before the effective day in the termination of authority.
The Secretary shall adjust to Point out water legal guidelines in finishing up this subchapter. Very little Within this subchapter impacts or preempts State water law or an interstate compact governing more info water.
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