2423 loan - An Overview
2423 loan - An Overview
Blog Article
Absolutely nothing During this subchapter supersedes or amends any Federal legislation associated with a project, or possibly a portion of a task, produced underneath the reclamation laws.
In analyzing the aptitude-to-pay out of Indian tribe project beneficiaries, the Secretary might take into account deferring the collection of all or Component of the non-Federal construction expenditures apportioned to Indian tribe project beneficiaries unless or till the Secretary determines the Indian tribe venture beneficiaries must fork out—
The phrase "functions, upkeep, and substitute costs" indicates all expenditures with the operation of a rural drinking water provide project that are necessary for the safe, effective, and continued performing of your task to provide the benefits described in a very feasibility study.
By these day as may be specified in the loan promise or linked agreements, the Secretary shall shell out to the holder with the loan assurance the unpaid desire on, and unpaid principal of, the obligation with respect to which the borrower has defaulted, Unless of course the Secretary finds that there wasn't default through the borrower inside the payment of interest or principal or the default is remedied.
When the Secretary makes a payment underneath subsection (a), the Secretary shall be subrogated to your legal rights on the recipient in the payment as laid out in the loan assure or linked agreements, which includes, as correct, the authority (notwithstanding another provision of regulation) to—
Should the Secretary will make a payment underneath subsection (a), the Secretary shall be subrogated towards the legal rights in the receiver with the payment as laid out in the loan assurance or similar agreements, including, as ideal, the authority (notwithstanding another provision of law) to—
Topic to The provision of appropriations, the Secretary may well make available to lenders to get a task Assembly the eligibility criteria established in part 2422 of this title loan ensures to dietary supplement non-public-sector or lender financing for your challenge.
In almost any scenario during which a contract is entered into with, or possibly a grant is produced, to 1 a corporation to carry out providers benefitting over 1 Indian tribe below this subchapter, the approval of each these kinds of Indian tribe shall be considered a prerequisite to coming into into your agreement or producing the grant.
A loan ensure less than this part shall provide for complete amortization of the loan assurance inside not much more than 40 many years.
You will find licensed to get appropriated this kind of sums as are important to perform this subchapter, click here to stay offered till expended.
The phrase "loan assurance" has the this means provided the phrase "loan assurance" in portion 661a of title two.
Loan guarantees below this area for the job shall be on such terms and conditions and include this sort of covenants, representations, warranties, and needs since the Secretary decides for being acceptable to guard the economic interests of the United States.
Subject to The provision of appropriations, the Secretary may possibly make accessible to lenders for your task meeting the eligibility standards established in area 2422 of the title loan guarantees to health supplement non-public-sector or lender financing to the challenge.
(15) in the situation of a project supposed for Indian tribes and tribal businesses, the extent to which the challenge addresses the goal of financial self-sufficiency.