A Secret Weapon For 2423 loan

A Secret Weapon For 2423 loan

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(three) oversee, as acceptable, the development of rural drinking water provide projects in Reclamation States that happen to be advisable because of the Secretary inside a feasibility report made pursuant to portion 2405 of the title and subsequently authorized by Congress.

Loan guarantees with the Secretary shall not exceed an amount of money equal to 90 % of the cost of the job that's the subject from the loan promise, as believed at time at which the loan guarantee is issued.

Any prepayment or refinancing terms on a loan ensure shall be negotiated among the non-Federal borrower plus the lender Along with the consent in the Secretary.

(2) the level of the payment the Secretary is licensed to pay shall be no bigger than the amount of principal and interest the non-Federal borrower is obligated to pay for beneath the arrangement being assured; and

The Secretary, in cooperation with non-Federal job entities and per this subchapter, may perhaps carry out a rural water supply software in Reclamation States to—

The expression "System" indicates The agricultural drinking water provide application performed below section 2402 of this title.

(i) repairs of the program character that sustain a rural h2o source project within a nicely saved condition;

(B) if a reproduction task is currently being performed, establish the authority less than which the copy challenge is staying performed; and

To attenuate the expense of a rural h2o source project to the non-Federal undertaking entity, the Secretary shall consist of in the criteria methods to scale the extent of effort wanted to finish the appraisal investigation relative to the total dimension and cost on the proposed rural water offer undertaking.

The term "rural drinking water source challenge" indicates a challenge that's created to provide a community or team of communities, Just about every of that has a inhabitants of not much more than fifty,000 inhabitants, which may include things like Indian tribes and tribal businesses, dispersed homesites, or rural areas with domestic, industrial, municipal, and residential drinking water.

The phrase "loan guarantee" has the meaning supplied the expression "loan promise" in section 661a of title 2.

The Secretary shall acquire and publish inside the Federal Register requirements for analyzing the eligibility of a job for financial help beneath segment 2423 of the title.

The Secretary and also more info the Secretary of Agriculture shall enter right into a memorandum of agreement supplying for Office of Agriculture economical appraisal features and loan guarantee administration for pursuits performed below this subchapter.

The Secretary shall adjust to State h2o guidelines in finishing up this subchapter. Almost nothing In this particular subchapter has an effect on or preempts State drinking water regulation or an interstate compact governing h2o.