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42 U.S.C. § 8818 — Loan guarantees
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority of Secretary concerned** Subject to sections 8812 and 8817 of this title, the Secretary concerned may commit to guarantee, and guarantee, against loss of principal and interest, loans which are made to provide funds for the construction of biomass energy projects.
**(b) Estimated project construction costs as determinative of initial and revised amount of guarantee**
(1) Any guarantee of a loan under this section may not exceed 90 per centum of the cost of the construction of the biomass energy project involved, as estimated by the Secretary on the date of the guarantee or commitment to guarantee.
(2) In the event the construction costs of the project are thereafter estimated by the Secretary concerned to exceed the construction costs initially estimated by the Secretary, the Secretary may in addition, upon application therefor, guarantee, against loss of principal and interest, a loan for up to 60 per centum of the difference between the construction costs then estimated and the construction costs initially estimated.
**(c) Debt obligation; ineligibility for purchase, etc., by Federal Financing Bank or any Federal agency** Notwithstanding the provisions of the Federal Financing Bank Act of 1973 ([12 U.S.C. 2281](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2281&num=0&edition=prelim) et seq.) or any other provision of law (except as may be specifically provided by reference to this subsection in any Act enacted after June 30, 1980), no debt obligation which is guaranteed or committed to be guaranteed by the Secretary of Agriculture or the Secretary of Energy under this section shall be eligible for purchase by, or commitment to purchase by, or sale or issuance to, the Federal Financing Bank or any Federal agency.
**(d)
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 8818
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Source file: Laws/federal/codes/united-states-code/title-42/section-8818-loan-guarantees--df2b91641d.md
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Source location: Title 42, Chapter 96, § 8818; chapter-096-biomass-energy-and-alcohol-fuels.md
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**(a) Authority of Secretary concerned** Subject to sections 8812 and 8817 of this title, the Secretary concerned may commit to guarantee, and guarantee, against loss of principal and interest, loans which are made to provide funds for the construction of biomass energy projects.
**(b) Estimated project construction costs as determinative of initial and revised amount of guarantee**
(1) Any guarantee of a loan under this section may not exceed 90 per centum of the cost of the construction of the biomass energy project involved, as estimated by the Secretary on the date of the guarantee or commitment to guarantee.
(2) In the event the construction costs of the project are thereafter estimated by the Secretary concerned to exceed the construction costs initially estimated by the Secretary, the Secretary may in addition, upon application therefor, guarantee, against loss of principal and interest, a loan for up to 60 per centum of the difference between the construction costs then estimated and the construction costs initially estimated.
**(c) Debt obligation; ineligibility for purchase, etc., by Federal Financing Bank or any Federal agency** Notwithstanding the provisions of the Federal Financing Bank Act of 1973 ([12 U.S.C. 2281](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2281&num=0&edition=prelim) et seq.) or any other provision of law (except as may be specifically provided by reference to this subsection in any Act enacted after June 30, 1980), no debt obligation which is guaranteed or committed to be guaranteed by the Secretary of Agriculture or the Secretary of Energy under this section shall be eligible for purchase by, or commitment to purchase by, or sale or issuance to, the Federal Financing Bank or any Federal agency.
**(d) Terms and conditions** The terms and conditions of loan guarantees under this section shall provide that, if the Secretary concerned makes a payment of principal or interest upon the default by a borrower, the Secretary shall be subrogated to the rights of the recipient of such payment (and such subrogation shall be expressly set forth in the loan guarantee or related agreements).
**(e) Termination, cancellation, or revocation, and conclusive nature of guarantee** Any loan guarantee under this section shall not be terminated, canceled, or otherwise revoked, except in accordance with the terms thereof and shall be conclusive evidence that such guarantee complies fully with the provisions of this chapter and of the approval and legality of the principal amount, interest rate, and all other terms of the securities, obligations, or loans and of the guarantee.
**(f) Payment to lender** If the Secretary concerned determines that—
(1) the borrower is unable to meet payments and is not in default,
(2) it is in the public interest to permit the borrower to continue with such project, and
(3) the probable net benefit to the United States in paying the principal and interest due under the loan will be greater than that which would result in the event of a default,
then the Secretary may pay to the lender under a loan guarantee agreement an amount not greater than the principal and interest which the borrower is obligated to pay to such lender, if the borrower agrees to reimburse the Secretary for such payment on terms and conditions, including interest, which the Secretary determines are sufficient to protect the financial interests of the United States.
**(g) Preconditions**
(1) A loan may not be guaranteed under this section unless the applicant for such loan has established to the satisfaction of the Secretary concerned that the lender is not willing without such a guarantee to extend credit to the applicant at reasonable rates and terms, taking into consideration prevailing rates and terms for loans for similar purposes and periods of time, to finance the construction of the biomass energy project for which such loan is sought.
(2) The Secretary concerned shall ensure that the lender bears a reasonable degree of risk in the financing of such project.
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Federal law — U.S. Code and appendices · legal_authorities
The Congress finds that demands for funds through Federal and federally assisted borrowing programs are increasing faster than the total supply of credit and that such borrowings are not adequately coordinated with overall Federal fiscal and debt management policies. The purpose of this chapter is to assure coordination of these programs with the overall economic and fiscal policies of the Government, to reduce the cost of Federal and federally assisted borrowings from the public, and to assure that such borrowings are financed in a manner least disruptive of private financial markets and institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 2281
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Federal law — U.S. Code and appendices · legal_authorities
The Farm Credit Administration shall encourage production credit associations, Federal land banks, and banks for cooperatives to use existing authorities to make loans to eligible persons for commercially feasible biomass energy projects.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 8801
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Except as provided by another law, an official or agent of the United States Government having custody or possession of public money shall keep the money safe without—
(1) lending the money;
(2) using the money;
(3) depositing the money in a bank; and
(4) exchanging the money for other amounts.
**(b)** Except as provided in section 3718(b) 11 See References in Text note below. of this title, an official or agent of the Government receiving money for the Government from any source shall deposit the money in the Treasury as soon as practicable without deduction for any charge or claim.
**(c)**
(1) A person having custody or possession of public money, including a disbursing official having public money not for current expenditure, shall deposit the money without delay in the Treasury or with a depositary designated by the Secretary of the Treasury under law. Except as provided in paragraph (2), money required to be deposited pursuant to this subsection shall be deposited not later than the third day after the custodian receives the money. The Secretary or a depositary receiving a deposit shall issue duplicate receipts for the money deposited. The original receipt is for the Secretary and the duplicate is for the custodian.
(2) The Secretary of the Treasury may by regulation prescribe that a person having custody or possession of money required by this subsection to be deposited shall deposit such money during a period of time that is greater or lesser than the period of time specified by the second sentence of paragraph (1).
**(d)** An official or agent not complying with subsection (b) of this section may be removed from office. The official or agent may be required to forfeit to the Government any part of the money held by the official or agent and to w
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 3302
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Federal law — U.S. Code and appendices · legal_authorities
Page 1434
TITLE 12—BANKS AND BANKING
§ 2281
ership, a Farm Credit bank may purchase as-
sets of the Corporation.
(g) Agreements against interests of conservator
or receiver
No agreement that tends to diminish or defeat
the right, title, or interest of the conservator or
receiver for the Corporation in any asset ac-
quired by the conservator or receiver as conser-
vator or receiver for the Corporation shall be
valid against the conservator or receiver unless
the agreement—
(1) is in writing;
(2) is executed by the Corporation and any
person claiming an adverse interest under the
agreement, including the obligor, contempora-
neously with the acquisition of the asset by
the Corporation;
(3) is approved by the Board or an appro-
priate committee of the Board, which approval
shall be reflected in the minutes of the Board
or committee; and
(4) has been, continuously, from the time of
the agreement’s execution, an official record
of the Corporation.
(h) Report to Congress
On a determination by the receiver for the
Corporation that there are insufficient assets of
the receivership to pay all valid claims against
the receivership, the receiver shall submit to
the Secretary of the Treasury, the Committee
on Agriculture of the House of Representatives,
and the Committee on Agriculture, Nutrition,
and Forestry of the Senate a report on the fi-
nancial condition of the receivership.
(i) Termination of authorities
(1) Corporation
The charter of the Corporation shall be can-
celed, and the authority provided to the Cor-
poration by this subchapter shall terminate,
on such date as the Farm Credit Administra-
tion Board determines is appropriate following
the placement of the Corporation in receiver-
ship, but not later than the conclusion of the
receiver
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 2281
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Federal law — U.S. Code and appendices · legal_authorities
Page 7657
TITLE 42—THE PUBLIC HEALTH AND WELFARE
§ 8820
Treasury of the United States as miscellaneous
receipts. The preceding sentence shall not apply
to insured loans made under section 8813 of this
title.
(Pub. L. 96–294, title II, § 217, June 30, 1980, 94
Stat. 693.)
Editorial Notes
REFERENCES IN TEXT
This chapter, referred to in subsec. (a)(4)(C), was in
the original ‘‘this title’’, meaning title II of Pub. L.
96–294, June 30, 1980, 94 Stat. 683, known as the Biomass
Energy and Alcohol Fuels Act of 1980, which is classi-
fied principally to this chapter. For complete classi-
fication of title II to the Code, see Short Title note set
out under section 8801 of this title and Tables.
§ 8818. Reports
(a) Repealed. Pub. L. 99–386, title I, § 101(a), Aug.
22, 1986, 100 Stat. 821
(b) Comprehensive list of loans, grants, etc.
Within 120 days after June 30, 1980, the Sec-
retary of Energy and the Secretary of Agri-
culture shall submit to the Congress a com-
prehensive list of all the types of loans, grants,
incentives, rebates, or any other such private,
State, or Federal economic or financial benefits
now in effect or proposed which can be or have
been used for production of alcohol to be used as
a motor fuel or petroleum substitute.
(c) Annual reports; report evaluating overall im-
pact and plan for termination of Office of Al-
cohol Fuels
(1)(A) The Office of Alcohol Fuels shall submit
to the Congress and the President annual re-
ports containing a general description of the Of-
fice’s operations during the year and a descrip-
tion and evaluation of each biomass energy
project for which financial assistance by the Of-
fice is then in effect.
(B) Each annual report shall describe progress
made toward meeting the goals of this sub-
chapter and co
Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 8818
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