Sec. 2378. LOANS TO ECONOMICALLY DISADVANTAGED RURAL COMMUNITIES
186 words·~1 min read·
/statute-compilations/comps-10649/sec-2378A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 2378 LOANS TO ECONOMICALLY DISADVANTAGED RURAL COMMUNITIES **[**[7 U.S.C. 6616](/us/usc/t7/s6616)**]** ###
(a)In General The Secretary, under such terms and conditions as the Secretary shall establish, may make loans to economically disadvantaged rural communities for the purposes of securing technical assistance and services to aid in the development and implementation of action plans, including planning for— ####
(1)improving existing facilities in the community that may generate employment or revenue; ####
(2)expanding existing infrastructure, facilities, and services to capitalize on opportunities to diversify economies now dependent on National Forest System land resources; and ####
(3)supporting the development of new industries or commercial ventures unrelated to National Forest System land resources. ###
(b)Interest Rates The interest rates on a loan made pursuant to this section shall be as determined by the Secretary, but not in excess of the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the maturity of such loan, plus not to exceed 1 percent, as determined by the Secretary, and rounded to the nearest one-eighth of 1 percent.
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 2378
LOANS TO ECONOMICALLY DISADVANTAGED RURAL COMMUNITIES
Cites 1Cited by 0 across 0 sources