Nothing at all During this subchapter supersedes or amends any Federal legislation linked to a project, or a portion of a venture, created beneath the reclamation legal guidelines.
By these day as may be specified in the loan promise or linked agreements, the Secretary shall spend for the holder on the loan assurance the unpaid desire on, and unpaid principal of, the obligation with respect to which the borrower has defaulted, Except the Secretary finds that there wasn't default because of the borrower inside the payment of interest or principal or that the default has long been remedied.
The Secretary shall consist of in the factors promulgated less than paragraph (one) strategies to scale the extent of effort necessary to complete the feasibility evaluation relative to the entire measurement and price in the proposed rural h2o supply project and lessen total costs to non-Federal entities.
Any prepayment or refinancing conditions on the loan warranty shall be negotiated between the non-Federal borrower as well as the lender Together with the consent on the Secretary.
(a) Authority Subject to The supply of appropriations, the Secretary may possibly make available to lenders for any task meeting the eligibility conditions recognized in section 2422 of this title loan ensures to health supplement non-public-sector or lender financing to the venture.
Loan ensures beneath this area to get a task shall be on these terms and conditions and comprise this kind of covenants, representations, warranties, and needs because the Secretary establishes to get ideal to safeguard the monetary interests of The us.
All new initiatives or facilities created in accordance with this subchapter shall stay beneath the jurisdiction and control of the non-Federal borrower topic for the phrases of your repayment settlement.
On notification, the Attorney Normal shall choose this sort of motion get more info as is suitable to Recuperate the unpaid principal and curiosity due from—
(4) environmental excellent and source water safety problems relevant to The agricultural h2o provide challenge;
The expression "rural drinking water source job" suggests a challenge that is definitely made to serve a Neighborhood or team of communities, Each individual of which has a inhabitants of not a lot more than fifty,000 inhabitants, which may incorporate Indian tribes and tribal corporations, dispersed homesites, or rural areas with domestic, industrial, municipal, and residential h2o.
The phrase "loan ensure" has the which means offered the term "loan promise" in segment 661a of title two.
Any prepayment or refinancing conditions on the loan promise shall be negotiated concerning the non-Federal borrower and the lender Together with the consent of the Secretary.
(A) ensure that the proposed rural h2o source job would not copy a challenge carried out under the authority of your company head; and
With regard to any obligation assured less than this segment, the Secretary could enter into a deal to pay, and pay out, holders in the obligation, for and on behalf of the non-Federal borrower, from cash appropriated for that goal, the principal and interest payments that turn into due and payable about the unpaid harmony in the obligation Should the Secretary finds that—