§ 1499. Limitation on guarantee of debt issues; approval of bond issue sale

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(a)The Secretary may guarantee not to exceed 90 percent of the unpaid principal and interest due on an issue of bonds, debentures, or similar obligations issued by an organization satisfactory to the Secretary. Such an issue shall be deemed a loan for purposes of sections 1482, 1483, 1484, 1485, 1486, 1489, 1490, 1491, 1493, 1494, 1495, 1496, and 1497 of this title.

(b)The method by which an issue of bonds guaranteed under this section may be sold shall be subject to approval by the Secretary.

(Pub. L. 93–262, title II, § 220, as added Pub. L. 100–442, § 6, Sept. 22, 1988, 102 Stat. 1764.)

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Public Law 100–442
To amend the Indian Financing Act of 1974, and for other purposes

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Pub. L. 93–262, title II, § 220
Pub. L. 100–442, § 6
102 Stat. 1764

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§ 1499

Limitation on guarantee of debt issues; approval of bond issue sale

Stat.×1

Pub. L.Pub. L. 93–262, title II, § 220

Pub. L.Pub. L. 100–442, § 6

Stat.102 Stat. 1764

Cites 3Cited by 1 across 1 source