2423 loan Options
2423 loan Options
Blog Article
The Secretary might waive any of the standards in subsection (a)(two) the Secretary establishes to generally be duplicative or rendered unwanted as a consequence of an action now taken by the United States.
On notification, the Lawyer Basic shall acquire these motion as is appropriate to recover the unpaid principal and desire due from—
The Secretary shall involve in the standards promulgated under paragraph (one) methods to scale the extent of effort required to complete the feasibility assessment relative to the whole measurement and price with the proposed rural h2o offer undertaking and lessen whole costs to non-Federal entities.
By these day as could be specified in the loan assure or relevant agreements, the Secretary shall shell out to the holder in the loan assure the unpaid curiosity on, and unpaid principal of, the obligation with regard to which the borrower has defaulted, Unless of course the Secretary finds that there was not default from the borrower in the payment of desire or principal or that the default has long been remedied.
(a) Authority Matter to the availability of appropriations, the Secretary may make accessible to lenders for just a task meeting the eligibility requirements founded in section 2422 of the title loan ensures to nutritional supplement private-sector or lender funding for that challenge.
The term "Software" suggests the rural drinking water source program carried out under segment 2402 of this title.
(12) the extent to which help for rural drinking water supply is offered under other Federal authorities;
The Secretary shall seek the advice of Along with the Secretary of Agriculture right before promulgating standards with respect to economical appraisal features and loan ensure administration for activities carried out underneath this subchapter.
The Secretary might raise the Federal share of the costs of click here a feasibility study if the Secretary establishes, determined by a demonstration of monetary hardship, the non-Federal participant is not able to contribute a minimum of fifty % of the costs on the research.
An obligation shall be topic to the condition the obligation isn't subordinate to other funding.
The Secretary plus the Comptroller Basic of the United States, or their duly licensed Reps, shall have access, for the purpose of audit, to your records as well as other pertinent paperwork.
(B) it really is in the general public curiosity to allow the non-Federal borrower to continue to go after the reasons with the job; and
(1) investigate and discover chances to be sure safe and enough rural water provide jobs for domestic, municipal, and industrial use in tiny communities and rural areas of the Reclamation States;
(B) demonstration of the creditworthiness on the task, including a determination with the Secretary that any financing with the job has appropriate security measures to make sure repayment;