Nothing On this subchapter supersedes or amends any Federal legislation connected to a challenge, or a portion of a venture, built under the reclamation legal guidelines.
By these types of date as can be specified in the loan promise or related agreements, the Secretary shall shell out to the holder in the loan warranty the unpaid curiosity on, and unpaid principal of, the obligation with regard to which the borrower has defaulted, Except the Secretary finds that there wasn't default through the borrower from the payment of interest or principal or that the default has become remedied.
Almost nothing In this particular subchapter authorizes the transfer of pre-present amenities or pre-existing components of any water method from Federal to personal possession or from private to Federal possession.
Any prepayment or refinancing terms with a loan promise shall be negotiated amongst the non-Federal borrower as well as the lender With all the consent in the Secretary.
Very little During this subchapter preempts or influences Condition water regulation or an interstate compact governing drinking water.
The Secretary shall develop and publish in the Federal Sign-up conditions for figuring out the eligibility of the venture for economic support under area 2423 of this title.
An obligation 2423 loan shall be matter to your condition which the obligation is just not subordinate to other funding.
(III) an evaluation in the economic capacity of each non-Federal entity taking part in The agricultural drinking water supply venture to pay the allotted yearly operation, upkeep, and alternative fees for The agricultural drinking water provide challenge;
A rural drinking water source project that is determined to be possible under section 2405 of the title is suitable for any loan guarantee underneath area 2423 of the title.
No quantities produced accessible less than this portion shall be used to fork out construction prices connected with any rural drinking water provide project.
The Secretary plus the Comptroller Normal of The us, or their duly authorized Associates, shall have accessibility, for the purpose of audit, towards the information and also other pertinent files.
(five) Nonsubordination An obligation shall be issue to the situation the obligation isn't subordinate to other funding.
(A) make certain that the proposed rural drinking water supply challenge won't copy a venture completed underneath the authority of the company head; and
With regard to any obligation certain below this area, the Secretary may possibly enter into a deal to pay for, and shell out, holders in the obligation, for and on behalf on the non-Federal borrower, from funds appropriated for that reason, the principal and desire payments that grow to be due and payable about the unpaid stability in the obligation In the event the Secretary finds that—