§2704 — Title 16 Conservation | U.S. Code

Summary

Loans made under this chapter must use the same discount or interest rate that is in effect at the time for certain water resources planning projects under 42 U.S.C. 1962d–17. The Secretary picks how long a loan lasts, but it cannot be longer than 10 years for loans under section 2702 or 30 years for loans under section 2703. Payments that come back on these loans must be put into the U.S. Treasury as miscellaneous receipts.

Title 16, §2704

Conservation — Source: USLM XML via OLRC

(a)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—

(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)Amounts repaid on loans made pursuant to this chapter shall be deposited into the United States Treasury as miscellaneous receipts.

Notes & Related Subsidiaries

Editorial Notes

References in Text

In subsec. (a), “section 1962d–17 of title 42” was in the original “section 80 of the Water Resources Development Act of 1974 (42 U.S.C. 1962–17(a))”. The Secretary, referred to in subsec. (a), means the Secretary of Energy, see section 2602(14) of this title.

§2704 Loan Rates and Repayment

Summary

Title 16, §2704

Notes & Related Subsidiaries

Editorial Notes

References in Text

Citations & Metadata