§ 3455. Eligibility; terms and conditions
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/usc/title-16/section-3455A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Eligibility Technical assistance and financial assistance may be provided by the Secretary under this subchapter to any council to assist in carrying out a project specified in an area plan approved by the Secretary only if—
(1)the council agrees in writing—
(A)to carry out the project; and
(B)to finance or arrange for financing of any portion of the cost of carrying out the project for which financial assistance is not provided by the Secretary under this subchapter;
(2)the project is included in an area plan and is approved by the council;
(3)the Secretary determines that assistance is necessary to carry out the area plan;
(4)the project provided for in the area plan is consistent with any comprehensive plan for the area;
(5)the cost of the land or an interest in the land acquired or to be acquired under the plan by any State, local unit of government, Indian tribe, or local nonprofit organization is borne by the State, local unit of government, Indian tribe, or local nonprofit organization, respectively; and
(6)the State, local unit of government, Indian tribe, or local nonprofit organization participating in the area plan agrees to maintain and operate the project.
(b)Loans
(1)In general Subject to paragraphs
(2)and (3), a loan made under this subchapter shall be made on such terms and conditions as the Secretary may prescribe.
(2)Term A loan for a project made under this subchapter shall have a term of not more than 30 years after the date of completion of the project.
(3)Interest rate A loan made under this subchapter shall bear interest at the average rate of interest paid by the United States on obligations of a comparable term, as determined by the Secretary of the Treasury.
(c)Approval by Secretary Technical assistance and financial assistance under this subchapter may not be made available to a council to carry out an area plan unless the area plan has been submitted to and approved by the Secretary.
(d)Withdrawal The Secretary may withdraw technical assistance and financial assistance with respect to any area plan if the Secretary determines that the assistance is no longer necessary or that sufficient progress has not been made toward developing or implementing the elements of the area plan.
(Pub. L. 97–98, title XV, § 1532, as added Pub. L. 107–171, title II, § 2504, May 13, 2002, 116 Stat. 272.)
Connections4 cite this
Cited by 4 sections
U.S. Code
statutes-at-large
- Public Law 107–171To provide for the continuation of agricultural programs through fiscal year 2007, and for other purposes
- Public Law 97–98To provide price and income protection for farmers, assure consumers an abundance of food and fiber at reasonable prices, continue food assistance to low-income households, and for other purposes
statute-compilations
5 references not yet in our index
- Pub. L. 97–98, title XV, § 1532
- Pub. L. 107–171, title II, § 2504
- 116 Stat. 272
- 95 Stat. 1339
- Pub. L. 107–171
Citation graph
cites case law
§ 3455
Eligibility; terms and conditions
Stat.×2
Stat. Comp.×1
U.S.C.×1
Pub. L.Pub. L. 97–98, title XV, § 1532
Pub. L.Pub. L. 107–171, title II, § 2504
Stat.116 Stat. 272
Stat.95 Stat. 1339
Pub. L.Pub. L. 107–171
Cites 5Cited by 4 across 3 sources