Indicators on 2423 loan You Should Know
Indicators on 2423 loan You Should Know
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Very little On this subchapter supersedes or amends any Federal legislation linked to a undertaking, or perhaps a part of a project, built under the reclamation laws.
In analyzing the capability-to-fork out of Indian tribe undertaking beneficiaries, the Secretary may look at deferring the collection of all or A part of the non-Federal building costs apportioned to Indian tribe project beneficiaries Except if or till the Secretary decides which the Indian tribe job beneficiaries really should spend—
An obligation shall bear desire in a amount that doesn't exceed a stage the Secretary determines to be acceptable, taking into account the prevailing charge of curiosity inside the private sector for similar loans and dangers.
By such date as may very well be specified in the loan promise or related agreements, the Secretary shall shell out to the holder in the loan assurance the unpaid interest on, and unpaid principal of, the obligation with respect to which the borrower has defaulted, Except if the Secretary finds that there wasn't default via the borrower within the payment of curiosity or principal or the default has long been remedied.
The Secretary, in cooperation with non-Federal job entities and in line with this subchapter, may well carry out a rural drinking water offer plan in Reclamation States to—
An obligation shall be subject to your ailment which the obligation is not really subordinate to other funding.
The Secretary shall adjust to Point out h2o guidelines in finishing up this subchapter. Very little During this subchapter impacts or preempts Condition water legislation or an interstate compact governing h2o.
On notification, the Lawyer Standard shall consider such action as is suitable to Get better the unpaid principal and curiosity owing from—
The Secretary may perhaps raise the Federal share of The prices of a feasibility examine Should the Secretary decides, determined by an illustration of monetary hardship, which the non-Federal participant is struggling to lead no less than 50 per cent of The prices with the review.
A recipient of the loan guarantee shall maintain this sort of information and also other pertinent paperwork because the Secretary shall prescribe by regulation, which includes this sort of information as the Secretary may require to aid a powerful audit.
Not later than 1 year after the date on which the eligibility criteria are printed while in the Federal Register underneath part 2422(a) of this title, and every two several years thereafter, the Secretary shall post to your Committee on Electricity and Organic Means from the Senate plus the Committee on Resources of your house of Representatives a report that describes the implementation with the loan assure software beneath portion 2423 of this title.
(i) that's authorized by Federal reclamation law and made by America underneath this sort of legislation; or
The Secretary as well as the Comptroller Normal of the United States, or their duly authorized Reps, more info shall have access, for the goal of audit, into the data and other pertinent documents.
With regard to any obligation confirmed underneath this part, the Secretary may enter into a agreement to pay for, and pay, holders of the obligation, for and on behalf with the non-Federal borrower, from resources appropriated for that intent, the principal and interest payments that become thanks and payable to the unpaid stability of your obligation In case the Secretary finds that—