5 Simple Statements About 2423 loan Explained
5 Simple Statements About 2423 loan Explained
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(2) Quantity Loan guarantees from the Secretary shall not exceed an amount equal to ninety percent of the cost of the challenge that is the subject matter from the loan guarantee, as approximated at enough time at which the loan promise is issued.
(i) which is authorized by Federal reclamation legislation and produced by The usa below this kind of regulation; or
Any prepayment or refinancing conditions with a loan assure shall be negotiated amongst the non-Federal borrower as well as lender Using the consent on the Secretary.
If a borrower defaults about the obligation, the holder in the loan assure shall have the right to demand from customers payment with the unpaid sum in the Secretary.
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The Secretary shall build and publish while in the Federal Sign-up requirements for figuring out the eligibility of the challenge for financial aid less than section 2423 of this title.
The Secretary shall comply with Condition h2o rules in finishing up this subchapter. Practically nothing Within this subchapter influences or preempts Point out water law or an interstate compact governing drinking water.
In almost any case wherein a agreement is entered into with, or a grant is built, to 1 a corporation to execute services benefitting in excess of 1 Indian tribe beneath this subchapter, the acceptance of each these types of Indian tribe shall be described as a prerequisite to getting into in to the deal or creating the grant.
The Secretary may perhaps boost the Federal share of the costs of a feasibility review if the Secretary determines, according to an illustration of financial hardship, which the non-Federal participant is not able to contribute at least fifty % of The prices from the study.
You can find authorized more info being appropriated these kinds of sums as are essential to perform this subchapter, to stay offered till expended.
The full faith and credit history of The us is pledged into the payment of all ensures issued less than this segment with regard to principal and desire.
(B) it is in the public fascination to allow the non-Federal borrower to continue to go after the needs of your undertaking; and
An obligation shall be issue to the situation that the obligation just isn't subordinate to other financing.
The Secretary shall comply with Condition water guidelines in carrying out this subchapter. Nothing at all Within this subchapter has an effect on or preempts Condition h2o law or an interstate compact governing h2o.