Not known Facts About 2423 loan

Not known Facts About 2423 loan

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An obligation shall bear interest at a amount that does not exceed a level that the Secretary decides to generally be ideal, considering the prevailing rate of fascination in the private sector for equivalent loans and threats.

(A) evaluate the monetary capacity of any non-Federal job entities taking part in The agricultural h2o source task to pay for 25 percent or more in the cash design charges of the rural water source job; and

(six) the extent to which the undertaking and alternatives reap the benefits of economic incentives and using industry-primarily based mechanisms;

Any prepayment or refinancing conditions on a loan ensure shall be negotiated among the non-Federal borrower as well as lender Using the consent with the Secretary.

Nothing at all In this particular subchapter preempts or affects State water legislation or an interstate compact governing water.

An obligation shall be issue for the ailment the obligation is not really subordinate to other funding.

All new more info assignments or facilities built in accordance using this subchapter shall stay under the jurisdiction and control of the non-Federal borrower topic for the phrases with the repayment agreement.

(B) demonstration of the creditworthiness with the venture, like a determination through the Secretary that any funding for the undertaking has ideal safety features to ensure repayment;

The expression "building" suggests the installation of infrastructure and the upgrading of existing facilities in destinations where the infrastructure or amenities are connected with The brand new infrastructure of the rural h2o undertaking advised because of the Secretary pursuant to this subchapter.

Almost nothing With this subsection precludes any forbearance through the holder with the obligation for the advantage of the non-Federal borrower Which might be agreed on via the events to your obligation and accredited because of the Secretary.

The time period "loan promise" has the that means supplied the phrase "loan assurance" in section 661a of title 2.

(i) that is certainly authorized by Federal reclamation regulation and produced by America beneath this kind of regulation; or

(1) investigate and discover alternatives to make sure Risk-free and enough rural drinking water provide tasks for domestic, municipal, and industrial use in tiny communities and rural areas of the Reclamation States;

(15) in the case of the task intended for Indian tribes and tribal corporations, the extent to which the undertaking addresses the goal of economic self-sufficiency.