§2216 — Title 33 Navigation and Navigable Waters | U.S. Code

Summary

Non‑Federal parties repaying costs over time must pay interest. The Treasury Secretary sets the rate using the average market yields of comparable U.S. obligations in the month before the fiscal year when costs start or are recalculated, plus a 0.125% transaction premium; hydroelectric power uses rates set by other law.

Title 33, §2216

Navigation and Navigable Waters — Source: USLM XML via OLRC

Whenever a non-Federal interest is required or elects to repay an amount under this Act over a period of time, the amount to be repaid shall include interest at a rate determined by the Secretary of the Treasury, taking into consideration the average market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period, during the month preceding the fiscal year in which costs for the construction of the project are first incurred (or in the case of recalculation the fiscal year in which the recalculation is made), plus a premium of one-eighth of one percentage point for transaction costs; except that such rates for hydroelectric power shall be in accordance with existing law.

Editorial Notes

References in Text

This Act, referred to in text, is Pub. L. 99–662, Nov. 17, 1986, 100 Stat. 4082, known as the Water Resources Development Act of 1986. For complete classification of this Act to the Code, see

Short Title

note set out under section 2201 of this title and Tables.

§2216 Rate of Interest

Summary

Title 33, §2216

Notes & Related Subsidiaries

Editorial Notes

References in Text

Short Title

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