Sec. 245. Establishment and general authority of AIFA
151 words·~1 min read·
/bill/113/hr/2821/ih/section-245A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The American Infrastructure Financing Authority is established as a wholly owned Government corporation. AIFA shall provide direct loans and loan guarantees to facilitate infrastructure projects that are both economically viable and of regional or national significance, and shall have such other authority, as provided in this Act. The Board of Directors first appointed shall be deemed the incorporator of AIFA, and the incorporation shall be held to have been effected from the date of the first meeting of the Board of Directors.
AIFA shall— maintain an office in Washington, DC; and for purposes of venue in civil actions, be considered to be a resident of Washington, DC. The Secretary shall take such action as may be necessary to assist in implementing AIFA, and in carrying out the purpose of this Act. Chapter 91 of title 31, United States Code, does not apply to AIFA, unless otherwise specifically provided in this Act.