2423 loan Can Be Fun For Anyone
2423 loan Can Be Fun For Anyone
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Nothing at all With this subchapter supersedes or amends any Federal regulation affiliated with a venture, or even a part of a undertaking, created beneath the reclamation rules.
If a borrower defaults about the obligation, the holder in the loan guarantee shall have the ideal to desire payment from the unpaid amount of money through the Secretary.
The Secretary shall seek the advice of Along with the Secretary of Agriculture just before promulgating criteria with respect to fiscal appraisal functions and loan assure administration for actions performed underneath this subchapter.
A rural water provide challenge that is determined to get possible less than area 2405 of the title is suitable to get a loan promise beneath part 2423 of the title.
An obligation shall be subject to your issue that the obligation is not really subordinate to other financing.
The Secretary along with the Comptroller Common of The usa, or their duly licensed representatives, shall have entry, for the goal of audit, for the documents along with other pertinent files.
Previous Future Disclaimer: These codes will not be the most recent Variation. America could have more latest or correct information. We make no warranties or ensures regarding the precision, completeness, or adequacy of the data contained on This page or the information connected to over the condition web page.
Almost nothing On this subchapter preempts or has an effect on State drinking water regulation or an interstate compact governing water.
The Secretary as well as Secretary of Agriculture shall enter into a memorandum of arrangement providing for Division of Agriculture economical appraisal functions and loan promise administration for activities carried out underneath this subchapter.
(B) demonstration with the creditworthiness of the task, which includes a dedication via the Secretary that any funding with the challenge has appropriate security features to make sure repayment;
Not afterwards than 1 12 months once the date on which the eligibility standards are published from the Federal Register underneath segment 2422(a) of the title, and each 2 years thereafter, the Secretary shall submit towards the Committee on Electricity and Organic Means from the Senate as well as the Committee on Sources of your house of Representatives 2423 loan a report that describes the implementation on the loan guarantee system underneath section 2423 of this title.
(two) the administration of any loan certain beneath this subchapter before the effective day in the termination of authority.
(ii) in connection with which There's a repayment or drinking water assistance deal executed by the United States below Federal reclamation legislation; or
The Secretary could waive any of the criteria in subsection (a)(two) that the Secretary establishes to get duplicative or rendered needless due to an motion presently taken by the United States.