2423 loan - An Overview
2423 loan - An Overview
Blog Article
A loan warranty less than this portion shall supply for total amortization with the loan warranty inside of not more than forty decades.
If a borrower defaults to the obligation, the holder with the loan ensure shall have the appropriate to need payment with the unpaid quantity in the Secretary.
(i) incidental noncommercial livestock watering and noncommercial irrigation of vegetation and little gardens of lower than 1 acre; and
Nothing Within this subchapter demands a feasibility review for, or imposes some other added prerequisites with respect to, rural drinking water offer initiatives or programs which have been approved right before December 22, 2006.
(a) Authority Issue to The provision of appropriations, the Secretary may make accessible to lenders for just a undertaking Assembly the eligibility conditions recognized in section 2422 of this title loan ensures to nutritional supplement private-sector or lender financing with the challenge.
The Secretary shall develop and publish in the Federal Register requirements for figuring out the eligibility of a challenge for economical guidance below segment 2423 of this title.
(twelve) the extent to which support for rural drinking water supply is obtainable below other Federal authorities;
All new projects or facilities created in accordance with this subchapter shall remain underneath the jurisdiction and control of the non-Federal borrower issue to your phrases of the repayment agreement.
A rural drinking water supply challenge that is decided to get possible under section 2405 of this title is qualified for your loan promise under segment 2423 of this title.
An obligation shall be matter for the situation the obligation is not really subordinate to other funding.
Very little With this subchapter preempts or influences Point out drinking water regulation or an interstate compact governing drinking water.
(two) progression of community wellness and safety of any present rural water offer project and various great things about the proposed rural h2o offer challenge;
The Secretary as well as Comptroller General of The usa, or their duly authorized Associates, shall have access, for the purpose of audit, for the records and various pertinent documents.
With regard to any obligation certain under this part, the Secretary may well enter into a deal to pay, and pay back, holders of the obligation, click here for and on behalf in the non-Federal borrower, from cash appropriated for that reason, the principal and desire payments that come to be thanks and payable over the unpaid balance from the obligation When the Secretary finds that—