Sec. 132. Definitions
514 words·~2 min read·
/bill/114/s/2533/is/section-132A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In this subtitle: The term eligible entity means— a corporation; a partnership; a joint venture; a trust; a State, or local governmental entity, agency, or instrumentality; and a conservancy district, irrigation district, canal company, mutual water company, water users’ association, Indian tribe, agency created by interstate compact, or any other entity that has the capacity to contract with the United States under the reclamation laws. The term Federal credit instrument means a secured loan or loan guarantee authorized to be made available under this title with respect to a project.
The term investment-grade rating means a rating of BBB minus, Baa3, bbb minus, BBB (low), or higher as assigned by a rating agency to project obligations. The term lender means any non-Federal qualified institutional buyer (as defined in section 230.144A(a) of title 17, Code of Federal Regulations (or a successor regulation) (commonly known as Rule 144A(a) of the Securities and Exchange Commission and issued under the Securities Act of 1933 ( 15 U.S.C. 77a et seq. ))). The term lender includes— a qualified retirement plan (as defined in section 4974 of the Internal Revenue Code of 1986) that is a qualified institutional buyer; and a governmental plan (as defined in section 414 of the Internal Revenue Code of 1986) that is a qualified institutional buyer.
The term loan guarantee means any guarantee or other pledge by the Secretary of the Interior to pay all or part of the principal of, and interest on, a loan or other debt obligation issued by an obligor and funded by a lender. The term obligor means an eligible entity that is primarily liable for payment of the principal of, or interest on, a Federal credit instrument. The term project obligation means any note, bond, debenture, or other debt obligation issued by an obligor in connection with the financing of a project.
The term project obligation does not include a Federal credit instrument. The term rating agency means a credit rating agency registered with the Securities and Exchange Commission as a nationally recognized statistical rating organization (as defined in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) )). The term Reclamation State means any of the States of— Arizona; California; Colorado; Idaho; Kansas; Montana; Nebraska; Nevada; New Mexico; North Dakota;
Oklahoma; Oregon; South Dakota; Texas; Utah; Washington; and Wyoming. The term secured loan means a direct loan or other debt obligation issued by an obligor and funded by the Secretary in connection with the financing of a project under subtitle A. The term subsidy amount means the amount of budget authority sufficient to cover the estimated long-term cost to the Federal Government of a Federal credit instrument, as calculated on a net present value basis, excluding administrative costs and any incidental effects on governmental receipts or outlays in accordance with the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661 et seq. ).
The term substantial completion , with respect to a project, means the earliest date on which a project is considered to perform the functions for which the project is designed.
Connectionstraces to 3
Traces to 3 documents
Citation graph
cites case law
Cites 3Cited by 0 across 0 sources