Sec. 101. Establishment and general authority of IFA
155 words·~1 min read·
/bill/113/s/1716/is/section-101·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Infrastructure Financing Authority is established as a wholly owned Government corporation. IFA shall— provide direct loans and loan guarantees to facilitate eligible infrastructure projects that are economically viable, in the public interest, and of regional or national significance; and carry out any other activities and duties authorized under this Act. The Board of Directors first appointed shall be deemed the incorporator of IFA, and the incorporation shall be held to have been effected from the date of the first meeting of the Board of Directors.
IFA 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 IFA and in carrying out the purpose of this Act. Chapter 91 of title 31, United States Code, does not apply to IFA, unless otherwise specifically provided in this Act.