7 U.S.C. § 2009m — Electronic transfer

Page 1195 TITLE 7—AGRICULTURE § 2009aa subsection (e) to any repayments due the United States as a result of the guarantees. (g) Outstanding obligations The total amount of outstanding obligations guaranteed on a cumulative basis by the Sec- retary pursuant to subsection (b) shall not at any time exceed such amount as may be author- ized to be appropriated for such purpose for any fiscal year. (h) Purchase of guaranteed obligations by Fed- eral Financing Bank Notes or other obligations guaranteed under this section may not be purchased by the Fed- eral Financing Bank. (i) Full faith and credit The full faith and credit of the United States is pledged to the payment of all guarantees made under this section. Any such guarantee made by the Secretary shall be conclusive evi- dence of the eligibility of the obligations for the guarantee with respect to principal and interest. The validity of the guarantee shall be incontest- able in the hands of a holder of the guaranteed obligations. (Pub. L. 87–128, title III, § 381H, as added Pub. L. 104–127, title VII, § 761, Apr. 4, 1996, 110 Stat. 1145.) § 2009h. Local involvement An application for assistance under this sub- chapter shall include evidence of significant community support for the project for which the assistance is requested. In the case of assistance for a community facilities or infrastructure project, the evidence shall be in the form of a certification of support for the project from each affected general purpose local government. (Pub. L. 87–128, title III, § 381I, as added Pub. L. 104–127, title VII, § 761, Apr. 4, 1996, 110 Stat. 1146.) § 2009i. Interstate collaboration The Secretary shall permit the establishment of voluntary pooling arrangements among States, and regional fund-sharing agreements, to carry out projects receiving assistance under this subchapter. (Pub. L. 87–128, title III, § 381J, as added Pub. L. 104–127, title VII, § 761, Apr. 4, 1996, 110 Stat. 1146.) § 2009j. Annual report (a) In general The Secretary, in collaboration with State, local, public, and private entities, State rural development councils, and community-based or- ganizations, shall prepare an annual report that contains evaluations, assessments, and perform- ance outcomes concerning the rural community advancement programs carried out under this subchapter. (b) Submission Not later than March 1 of each year, the Sec- retary shall— (1) submit the report required by subsection (a) to Congress and the chief executives of the States participating in the program estab- lished under this subchapter; and (2) make the report available to State and local participants. (Pub. L. 87–128, title III, § 381K, as added Pub. L. 104–127, title VII, § 761, Apr. 4, 1996, 110 Stat. 1146.) § 2009k. Rural development interagency working group (a) In general The Secretary shall provide leadership within the Executive branch for, and assume responsi- bility for, establishing an interagency working group chaired by the Secretary. (b) Duties The working group shall establish policy for, coordinate, make recommendations with respect to, and evaluate the performance of, all Federal rural development efforts. (Pub. L. 87–128, title III, § 381L, as added Pub. L. 104–127, title VII, § 761, Apr. 4, 1996, 110 Stat. 1146.) § 2009l. Duties of Rural Economic and Commu- nity Development State Offices In carrying out this subchapter, the Director of a Rural Economic and Community Develop- ment State Office shall— (1) to the maximum extent practicable, en- sure that the State strategic plan referred to in section 2009c of this title is implemented; (2) coordinate community development ob- jectives within the State; (3) establish links between local, State, and field office program administrators of the De- partment of Agriculture; (4) ensure that recipient communities com- ply with applicable Federal and State laws and requirements; and (5) integrate State development programs with assistance under this subchapter. (Pub. L. 87–128, title III, § 381M, as added Pub. L. 104–127, title VII, § 761, Apr. 4, 1996, 110 Stat. 1146.) § 2009m. Electronic transfer The Secretary shall transfer funds in accord- ance with this subchapter through electronic transfer as soon as practicable after April 4, 1996. (Pub. L. 87–128, title III, § 381N, as added Pub. L. 104–127, title VII, § 761, Apr. 4, 1996, 110 Stat. 1147.) § 2009n. Repealed. Pub. L. 107–171, title VI, § 6026(b), May 13, 2002, 116 Stat. 372 Section, Pub. L. 87–128, title III, § 381O, as added Pub. L. 104–127, title VII, § 761, Apr. 4, 1996, 110 Stat. 1147, re- lated to rural venture capital demonstration program. SUBCHAPTER VI—DELTA REGIONAL AUTHORITY § 2009aa. Definitions In this subchapter: