(two) Amount of money Loan guarantees because of the Secretary shall not exceed an sum equivalent to ninety % of the cost of the project that's the matter on the loan ensure, as approximated at enough time at which the loan promise is issued.
In analyzing the potential-to-spend of Indian tribe undertaking beneficiaries, the Secretary could take into consideration deferring the collection of all or Element of the non-Federal construction charges apportioned to Indian tribe project beneficiaries Until or until finally the Secretary decides the Indian tribe project beneficiaries really should shell out—
Any prepayment or refinancing terms on a loan assure shall be negotiated amongst the non-Federal borrower along with the lender While using the consent on the Secretary.
Any prepayment or refinancing phrases with a loan assure shall be negotiated amongst the non-Federal borrower along with the lender Using the consent on the Secretary.
The Secretary, in cooperation with non-Federal job entities and in keeping with this subchapter, may carry out a rural h2o supply method in Reclamation States to—
The expression "System" signifies the rural drinking water supply application carried out beneath area 2402 of the title.
The Secretary shall adjust to Point out h2o laws in carrying out this subchapter. Nothing During this subchapter affects or preempts State drinking water legislation or an interstate compact governing drinking water.
In any case wherein a agreement is entered into with, or a grant is created, to 1 an organization to execute products and services benefitting in excess of 1 Indian tribe below this subchapter, the acceptance of each this kind of Indian tribe shall certainly be a prerequisite to entering in the contract or earning the grant.
A loan assure below this part shall supply for finish amortization on the loan ensure within just not greater than forty yrs.
You can find licensed to be appropriated such sums as are needed to carry out this subchapter, to remain readily available until eventually expended.
Loan guarantees below this part for a challenge shall be on these kinds of stipulations and include this sort of covenants, representations, warranties, and necessities as the Secretary establishes to get proper to safeguard the financial more info interests of The us.
(ii) in connection with which You will find a repayment or water company deal executed by the United States under Federal reclamation law; or
The Secretary as well as the Comptroller Normal of The us, or their duly authorized Associates, shall have entry, for the objective of audit, to your documents as well as other pertinent documents.
Loan assures beneath this portion to get a project shall be on these types of stipulations and comprise this kind of covenants, representations, warranties, and needs because the Secretary establishes to become acceptable to safeguard the monetary passions of The usa.