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43 U.S.C. § 2422 — Project eligibility
Federal law — U.S. Code and appendices · legal_authorities
**(a) Eligibility criteria**
(1) **In general** — The Secretary shall develop and publish in the Federal Register criteria for determining the eligibility of a project for financial assistance under [section 2423 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section2423&num=0&edition=prelim).
(2) **Inclusions** — Eligibility criteria shall include—
(A) submission of an application by the lender to the Secretary;
(B) demonstration of the creditworthiness of the project, including a determination by the Secretary that any financing for the project has appropriate security features to ensure repayment;
(C) demonstration by the non-Federal borrower, to the satisfaction of the Secretary, of the ability of the non-Federal borrower to repay the project financing from user fees or other dedicated revenue sources;
(D) demonstration by the non-Federal borrower, to the satisfaction of the Secretary, of the ability of the non-Federal borrower to pay all operations, maintenance, and replacement costs of the project facilities; and
(E) such other criteria as the Secretary determines to be appropriate.
**(b) Waiver** The Secretary may waive any of the criteria in subsection (a)(2) that the Secretary determines to be duplicative or rendered unnecessary because of an action already taken by the United States.
**(c) Projects previously authorized** A project that was authorized for construction under Federal reclamation laws prior to December 22, 2006, shall be eligible for assistance under this subchapter, subject to the criteria established by the Secretary under subsection (a).
**(d) Criteria for rural water supply projects** A rural water supply project that is determined to be feasible under [section 2405 of this title](https
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Source location: Title 43, Chapter 42, § 2422; chapter-042-rural-water-supply.md
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**(a) Eligibility criteria**
(1) **In general** — The Secretary shall develop and publish in the Federal Register criteria for determining the eligibility of a project for financial assistance under [section 2423 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section2423&num=0&edition=prelim).
(2) **Inclusions** — Eligibility criteria shall include—
(A) submission of an application by the lender to the Secretary;
(B) demonstration of the creditworthiness of the project, including a determination by the Secretary that any financing for the project has appropriate security features to ensure repayment;
(C) demonstration by the non-Federal borrower, to the satisfaction of the Secretary, of the ability of the non-Federal borrower to repay the project financing from user fees or other dedicated revenue sources;
(D) demonstration by the non-Federal borrower, to the satisfaction of the Secretary, of the ability of the non-Federal borrower to pay all operations, maintenance, and replacement costs of the project facilities; and
(E) such other criteria as the Secretary determines to be appropriate.
**(b) Waiver** The Secretary may waive any of the criteria in subsection (a)(2) that the Secretary determines to be duplicative or rendered unnecessary because of an action already taken by the United States.
**(c) Projects previously authorized** A project that was authorized for construction under Federal reclamation laws prior to December 22, 2006, shall be eligible for assistance under this subchapter, subject to the criteria established by the Secretary under subsection (a).
**(d) Criteria for rural water supply projects** A rural water supply project that is determined to be feasible under [section 2405 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section2405&num=0&edition=prelim) is eligible for a loan guarantee under [section 2423 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section2423&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority** Subject to the availability of appropriations, the Secretary may make available to lenders for a project meeting the eligibility criteria established in [section 2422 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section2422&num=0&edition=prelim) loan guarantees to supplement private-sector or lender financing for the project.
**(b) Terms and limitations**
(1) **In general** — Loan guarantees under this section for a project shall be on such terms and conditions and contain such covenants, representations, warranties, and requirements as the Secretary determines to be appropriate to protect the financial interests of the United States.
(2) **Amount** — Loan guarantees by the Secretary shall not exceed an amount equal to 90 percent of the cost of the project that is the subject of the loan guarantee, as estimated at the time at which the loan guarantee is issued.
(3) **Interest rate** — An obligation shall bear interest at a rate that does not exceed a level that the Secretary determines to be appropriate, taking into account the prevailing rate of interest in the private sector for similar loans and risks.
(4) **Amortization** — A loan guarantee under this section shall provide for complete amortization of the loan guarantee within not more than 40 years.
(5) **Nonsubordination** — An obligation shall be subject to the condition that the obligation is not subordinate to other financing.
**(c) Prepayment and refinancing** Any prepayment or refinancing terms on a loan guarantee shall be negotiated between the non-Federal borrower and the lender with the consent of the Secretary.
Source: Supplied U.S. Code snapshot — release unconfirmed · 43 U.S.C. § 2423
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** On completion of an appraisal report under [section 2404(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section2404/c&num=0&edition=prelim) that recommends undertaking a feasibility study and subject to the availability of appropriations, the Secretary shall—
(1) in cooperation with a non-Federal project entity, carry out a study to determine the feasibility of the proposed rural water supply project;
(2) receive and review a feasibility study that is—
(A) developed by the non-Federal project entity, with or without support from the Secretary; and
(B) submitted to the Secretary by the non-Federal project entity; or
(3)
(A) provide a grant to, or enter into a cooperative agreement with, a non-Federal project entity to conduct a feasibility study, for submission to the Secretary, if the Secretary determines that—
(i) the non-Federal entity is qualified to complete the feasibility study in accordance with the criteria promulgated under subsection (d); and
(ii) using the non-Federal project entity to conduct the feasibility study is a cost-effective alternative for completing the appraisal investigation; or
(B) if the Secretary determines not to provide a grant to, or enter into a cooperative agreement with, a non-Federal project entity under subparagraph (A), provide to the non-Federal project entity notice of the determination, including an explanation of the reason for the determination.
**(b) Review of non-Federal feasibility studies**
(1) **In general** — In conducting a review of a feasibility study submitted under paragraph (2) or (3) of subsection (a), the Secretary shall—
(A) in accordance with the feasibility factors described in subsection (c) and the criteria promulgated und
Source: Supplied U.S. Code snapshot — release unconfirmed · 43 U.S.C. § 2405
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Federal law — U.S. Code and appendices · legal_authorities
Page 638
TITLE 43—PUBLIC LANDS
§ 2409
1 So in original. Probably should be ‘‘Regulations’’.
2 See References in Text note below.
§ 2409. Termination of authority
The authority of the Secretary to carry out
this subchapter terminates on September 30,
2016.
(Pub. L. 109–451, title I, § 110, Dec. 22, 2006, 120
Stat. 3356.)
SUBCHAPTER II—TWENTY-FIRST CENTURY
WATER WORKS
§ 2421. Definitions
In this subchapter:
(1) Indian tribe
The term ‘‘Indian tribe’’ has the meaning
given the term in section 5304 of title 25.
(2) Lender
The term ‘‘lender’’ means—
(A) a non-Federal qualified institutional
buyer (as defined in section 230.144A(a) of
title 17, Code of Federal Regulation 1 (or any
successor regulation), known as Rule 144A(a)
of the Securities and Exchange Commission
and issued under the Securities Act of 1933
(15 U.S.C. 77a et seq.)); or
(B) a clean renewable energy bond lender
(as defined in section 54(j)(2) 2 of title 26 (as
in effect on December 22, 2006)).
(3) Loan guarantee
The term ‘‘loan guarantee’’ has the meaning
given the term ‘‘loan guarantee’’ in section
661a of title 2.
(4) Non-Federal borrower
The term ‘‘non-Federal borrower’’ means—
(A) a State (including a department, agen-
cy, or political subdivision of a State); or
(B) a conservancy district, irrigation dis-
trict, canal company, water users’ associa-
tion, Indian tribe, an agency created by
interstate compact, or any other entity that
has the capacity to contract with the United
States under Federal reclamation law.
(5) Obligation
The term ‘‘obligation’’ means a loan or other
debt obligation that is guaranteed under this
section.
(6) Project
The term ‘‘project’’ means—
(A) a rural water supply project (as defined
in section 2401(9) of this title);
(B) an extraordina
Source: Supplied 2024 U.S. Code historical extraction · 43 U.S.C. § 2422
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