Applicants eligible for loans shall include cities eligible under 7 U.S.C. 1926 [Pub. L. 87-128; 75 Stat. 308], as amended through December 31, 1996, and associations, cooperatives,
and corporations operated on a nonprofit basis which have the legal authority necessary
for constructing, operating, and maintaining the proposed facility or service and
for obtaining, giving security for, and repaying the loan in accordance with farmers
home administration requirements. Applicant cities, associations, cooperatives, and corporations shall seek to include
cities and rural areas, eligible under farmers home administration rules and regulations
and located near a proposed service area, as part of a water facility project. Reasons for not including such cities and rural areas must be approved jointly by
the Bank of North Dakota and the farmers home administration.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.