§ 1499. — Limitation on guarantee of debt issues; approval of bond issue sale.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC1499]
TITLE 25--INDIANS
CHAPTER 17--FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN
ORGANIZATIONS
SUBCHAPTER II--LOAN GUARANTY AND INSURANCE
Sec. 1499. Limitation on guarantee of debt issues; approval of
bond issue sale
(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, Sec. 220, as added Pub. L. 100-442, Sec. 6,
Sept. 22, 1988, 102 Stat. 1764.)
