16 U.S.C. § 2704 — Loan rates and repayment
submitted 48 years ago by Pub. L. 95-617 to r/title-16-CONSERVATION · 111 words · no verdicts yet
Loans under this chapter use the specified water-resources planning rate and have maximum terms of 10 or 30 years depending on the loan section. Repayments go to the Treasury as miscellaneous receipts.
(a) Interest Each loan made pursuant to this chapter must bear interest at the discount or interest rate used at the time the loan is made for water resources planning projects under section 1962d–17 of title 42 . Each such loan must be for such term, as the Secretary deems appropriate, but not in excess of—
(1) 10 years (in the case of a loan under section 2702 of this title ) or
(2) 30 years (in the case of a loan under section 2703 of this title ).
(b) Repayments Amounts repaid on loans made pursuant to this chapter must be deposited into the United States Treasury as miscellaneous receipts.
Each loan made pursuant to this chapter shall bear interest at the discount or interest rate used at the time the loan is made for water resources planning projects under section 1962d–17 of title 42. Each such loan shall be for such term, as the Secretary deems appropriate, but not in excess of—
10 years (in the case of a loan under section 2702 of this title) or
30 years (in the case of a loan under section 2703 of this title).
Amounts repaid on loans made pursuant to this chapter shall be deposited into the United States Treasury as miscellaneous receipts.
Source credit: (Pub. L. 95–617, title IV, § 404, Nov. 9, 1978, 92 Stat. 3155.)
- 1978Enacted · Pub. L. 95-617 · 92 Stat. 3155
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-617 on 1978-11-09.
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