Everything about 2423 loan

Everything about 2423 loan

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(3) oversee, as suitable, the development of rural drinking water provide tasks in Reclamation States which might be encouraged with the Secretary within a feasibility report developed pursuant to portion 2405 of this title and subsequently licensed by Congress.

If a borrower defaults about the obligation, the holder from the loan promise shall have the correct to demand payment with the unpaid sum in the Secretary.

(6) the extent to which the challenge and choices reap the benefits of economic incentives and the use of current market-primarily based mechanisms;

Any prepayment or refinancing terms with a loan warranty shall be negotiated concerning the non-Federal borrower and the lender Using the consent with the Secretary.

Preceding Next Disclaimer: These codes might not be The newest version. America might have additional current or correct facts. We make no warranties or guarantees with regard to the precision, completeness, or adequacy of the information contained on This web site or the data associated with on the state internet site.

The phrase "Method" suggests The agricultural h2o source plan performed less than portion 2402 of the title.

An obligation shall be topic to the issue that the obligation is just not subordinate to other funding.

(B) demonstration with the creditworthiness of the project, including a resolve from the Secretary that any financing with the task has proper safety features to be certain repayment;

The Secretary might raise the Federal share of the costs of a feasibility examine When the Secretary decides, based upon an indication of monetary hardship, which the non-Federal participant is struggling to lead no less than fifty per cent of The prices on the review.

The Secretary as well as Secretary of Agriculture shall enter into a memorandum of agreement supplying for Office of Agriculture fiscal appraisal functions and loan assurance administration for things to do carried out under this subchapter.

The Secretary as well as the Comptroller Basic of The us, or their duly authorized representatives, shall have entry, for the purpose of audit, towards the documents together with other pertinent files.

The Secretary shall build and publish within the Federal Sign-up requirements for pinpointing the eligibility of the job for financial help beneath area 2423 of this title.

(2) plan the look and development, with the perform of appraisal investigations and feasibility research, of rural drinking water provide projects in Reclamation States; and

Loan assures with the Secretary shall not exceed an amount equal to ninety % of the cost click here of the challenge that is the issue from the loan promise, as believed at some time at which the loan guarantee is issued.