Not known Facts About 2423 loan
Not known Facts About 2423 loan
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The Secretary may waive any of the standards in subsection (a)(2) which the Secretary establishes for being duplicative or rendered unwanted as a result of an motion already taken by America.
In deciding the capability-to-pay back of Indian tribe task beneficiaries, the Secretary could think about deferring the gathering of all or Section of the non-Federal construction prices apportioned to Indian tribe task beneficiaries Unless of course or right until the Secretary decides which the Indian tribe undertaking beneficiaries should really shell out—
An obligation shall bear desire at a charge that does not exceed a amount the Secretary determines to become appropriate, taking into account the prevailing rate of desire while in the private sector for similar loans and dangers.
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An obligation shall be subject to your issue that the obligation is not really subordinate to other financing.
An obligation shall be issue for the condition the obligation is not really subordinate to other financing.
Loan guarantees via the Secretary shall not exceed an volume equivalent to 90 p.c of the cost of the job that is the subject matter from the loan assurance, as estimated at enough time at which the loan guarantee is issued.
A rural drinking water provide task that is set to get feasible below segment 2405 of this title is suitable for just a loan warranty less than portion 2423 of the title.
With respect to any obligation assured underneath this portion, the Secretary may enter into a contract to pay for, and spend, holders in the obligation, for and on behalf on the non-Federal borrower, from cash appropriated for that intent, the principal and desire payments that become due and payable around the unpaid balance from the obligation When the Secretary finds that—
In conducting a feasibility analyze of a rural drinking water source program that features a Group by using a inhabitants in excess of 50,000 inhabitants, the Secretary may well need the non-Federal task entity to pay for greater than 50 p.c of The prices from the examine.
Loan ensures beneath this area for your challenge shall be on such terms and conditions and include this kind of covenants, representations, warranties, and needs since the Secretary determines to become proper to guard the monetary interests of America.
Practically nothing On this subchapter preempts or affects Condition h2o regulation get more info or an interstate compact governing drinking water.
(15) in the situation of the task intended for Indian tribes and tribal corporations, the extent to which the job addresses the purpose of economic self-sufficiency.