Us Code § 2704 - Loan rates and repayment
Full text of Us Code United States Code § 2704 — Loan rates and repayment, with citation guidance and answers to common questions.
§ 2704. Loan rates and repayment
(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.
(Pub. L. 95–617, title IV, §404, Nov. 9, 1978, 92 Stat. 3155.)
Editorial Notes
References in Text
In subsec. (a), "section 1962d–17 of title 42" was in the original "section 80 of the Water Resources Development Act of 1974 (42 U.S.C. 1962–17(a))".
The Secretary, referred to in subsec. (a), means the Secretary of Energy, see section 2602(14) of this title.
About This Section
16 U.S.C. § 2704 is part of Title 16 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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