§ 185. — Project servicing.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 23USC185]
TITLE 23--HIGHWAYS
CHAPTER 1--FEDERAL-AID HIGHWAYS
SUBCHAPTER II--INFRASTRUCTURE FINANCE
Sec. 185. Project servicing
(a) Requirement.--The State in which a project that receives
financial assistance under this subchapter is located may identify a
local servicer to assist the Secretary in servicing the Federal credit
instrument made available under this subchapter.
(b) Agency; Fees.--If a State identifies a local servicer under
subsection (a), the local servicer--
(1) shall act as the agent for the Secretary; and
(2) may receive a servicing fee, subject to approval by the
Secretary.
(c) Liability.--A local servicer identified under subsection (a)
shall not be liable for the obligations of the obligor to the Secretary
or any lender.
(d) Assistance From Expert Firms.--The Secretary may retain the
services of expert firms in the field of municipal and project finance
to assist in the underwriting and servicing of Federal credit
instruments.
(Added Pub. L. 105-178, title I, Sec. 1503(a), June 9, 1998, 112 Stat.
249.)
Section Referred to in Other Sections
This section is referred to in section 182 of this title.
