Not known Factual Statements About 2423 loan
Not known Factual Statements About 2423 loan
Blog Article
The Secretary may waive any of the factors in subsection (a)(two) the Secretary decides being duplicative or rendered pointless on account of an motion already taken by The us.
On notification, the Lawyer Common shall take these kinds of motion as is suitable to recover the unpaid principal and fascination thanks from—
Any prepayment or refinancing phrases with a loan promise shall be negotiated concerning the non-Federal borrower as well as the lender With all the consent with the Secretary.
(two) the level of the payment that the Secretary is approved to pay shall be no bigger than the level of principal and desire which the non-Federal borrower is obligated to pay for beneath the agreement currently being confirmed; and
(I) whether the non-Federal job entity has the potential to pay for one hundred pc of The prices linked to the operations, servicing, and replacement of the facilities constructed or developed as Portion of the rural drinking water provide project; and
A loan assurance beneath this segment shall provide for full amortization on the loan promise in just not in excess of 40 yrs.
The Secretary shall comply with State h2o rules in carrying out this subchapter. Almost nothing in this subchapter affects or preempts Point out h2o legislation or an read more interstate compact governing water.
The Secretary shall consult Along with the Secretary of Agriculture in advance of promulgating standards with respect to monetary appraisal functions and loan warranty administration for actions performed beneath this subchapter.
The Secretary may well boost the Federal share of The prices of a feasibility research Should the Secretary establishes, based on an indication of financial hardship, which the non-Federal participant is unable to add no less than fifty p.c of The prices of the analyze.
A receiver of a loan promise shall preserve such records together with other pertinent paperwork given that the Secretary shall prescribe by regulation, such as these documents given that the Secretary may possibly involve to facilitate a good audit.
Nothing Within this subchapter preempts or impacts Condition water regulation or an interstate compact governing h2o.
(i) that's authorized by Federal reclamation legislation and constructed by The us less than these legislation; or
(1) investigate and discover alternatives to be sure Secure and satisfactory rural drinking water supply assignments for domestic, municipal, and industrial use in little communities and rural areas of the Reclamation States;
(15) in the situation of a challenge supposed for Indian tribes and tribal businesses, the extent to which the task addresses the objective of financial self-sufficiency.