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16 U.S.C. § 2704 - U.S. Code - Unannotated Title 16. Conservation § 2704. Loan rates and repayment

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)Interest

Each loan made pursuant to this chapter shall bear interest at the discount or interest rate used at the time the loan is made for water resources planning projects under section 1962d-17 of Title 42. Each such loan shall be for such term, as the Secretary deems appropriate, but not in excess of--

(1) 10 years (in the case of a loan under section 2702 of this title) or

(2) 30 years (in the case of a loan under section 2703 of this title).

(b)Repayments

Amounts repaid on loans made pursuant to this chapter shall be deposited into the United States Treasury as miscellaneous receipts.

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Cite this article: FindLaw.com - 16 U.S.C. § 2704 - U.S. Code - Unannotated Title 16. Conservation § 2704. Loan rates and repayment - last updated January 01, 2024 | https://codes.findlaw.com/us/title-16-conservation/16-usc-sect-2704/

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