Not known Facts About 2423 loan
Not known Facts About 2423 loan
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An obligation shall bear interest at a level that does not exceed a level which the Secretary establishes to be proper, bearing in mind the prevailing price of fascination from the personal sector for similar loans and threats.
(A) consider the economic ability of any non-Federal challenge entities participating in the rural water provide project to pay for 25 percent or more in the funds development expenditures of The agricultural h2o source venture; and
An obligation shall bear interest at a fee that does not exceed a level which the Secretary determines being acceptable, considering the prevailing rate of desire during the personal sector for identical loans and pitfalls.
(2) the amount of the payment which the Secretary is authorized to pay shall be no higher than the level of principal and fascination that the non-Federal borrower is obligated to pay under the arrangement getting certain; and
Very little On this subchapter preempts or impacts State h2o legislation or an interstate compact governing water.
(two) the quantity of the payment that the Secretary is licensed to pay shall be no better than the amount of principal and interest which the non-Federal borrower is obligated to pay for under the arrangement becoming certain; and
Subject to the availability of appropriations, the Secretary may make available to lenders for the challenge meeting the eligibility standards founded in section 2422 of this title loan guarantees to complement private-sector or lender financing for your undertaking.
In almost any case wherein a agreement is entered into with, or simply a grant is produced, to one a corporation to execute expert services benefitting more than website 1 Indian tribe under this subchapter, the approval of each and every such Indian tribe shall certainly be a prerequisite to coming into into your agreement or earning the grant.
The expression "design" suggests the installation of infrastructure as well as the upgrading of existing facilities in places in which the infrastructure or facilities are connected to the new infrastructure of a rural water job encouraged because of the Secretary pursuant to this subchapter.
You will discover authorized for being appropriated this kind of sums as are essential to carry out this subchapter, to remain available until finally expended.
The term "loan assure" has the which means provided the term "loan assure" in section 661a of title two.
Any prepayment or refinancing conditions over a loan assure shall be negotiated amongst the non-Federal borrower plus the lender with the consent on the Secretary.
(2) strategy the look and construction, throughout the conduct of appraisal investigations and feasibility experiments, of rural water source assignments in Reclamation States; and
With regard to any obligation confirmed below this portion, the Secretary could enter right into a agreement to pay, and pay, holders on the obligation, for and on behalf from the non-Federal borrower, from funds appropriated for that objective, the principal and desire payments that become owing and payable around the unpaid harmony in the obligation In case the Secretary finds that—