15 U.S.C. § 690d — Debentures

(a) In general The Administrator may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any Renewable Fuel Capital Investment company. (b) Terms and conditions The Administrator may make guarantees under this section on such terms and conditions as it determines appropriate, except that— (1) the term of any debenture guaranteed under this section must not exceed 15 years; and (2) a debenture guaranteed under this section— (A) must carry no front-end or annual fees; (B) must be issued at a discount; (C) must require no interest payments during the 5-year period beginning on the date the debenture is issued; (D) must be prepayable without penalty after the end of the 1-year period beginning on the date the debenture is issued; and (E) must require semiannual interest payments after the period described in subparagraph (C). (c) Full faith and credit of the U.S. The full faith and credit of the U.S. is pledged to pay all amounts that may be required to be paid under any guarantee under this part. (d) Maximum guarantee (1) In general Under this section, the Administrator may guarantee the debentures issued by a Renewable Fuel Capital Investment company only to the extent that the total face amount of outstanding guaranteed debentures of such company does not exceed 150 percent of the private capital of the company, as determined by the Administrator. (2) Treatment of certain Federal funds For the purposes of paragraph (1), private capital must include capital that is considered to be Federal funds, if such capital is contributed by an investor other than a department or agency of the Federal Government.