§ 4193. — Payment of interest.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC4193]
TITLE 25--INDIANS
CHAPTER 43--NATIVE AMERICAN HOUSING ASSISTANCE AND SELF-DETERMINATION
SUBCHAPTER VI--FEDERAL GUARANTEES FOR FINANCING FOR TRIBAL HOUSING
ACTIVITIES
Sec. 4193. Payment of interest
The Secretary may make, and contract to make, grants, in such
amounts as may be approved in appropriations Acts, to or on behalf of an
Indian tribe or housing entity issuing notes or other obligations
guaranteed under this subchapter, to cover not to exceed 30 percent of
the net interest cost (including such servicing, underwriting, or other
costs as may be specified in regulations of the Secretary) to the
borrowing entity or agency of such obligations. The Secretary may also,
to the extent approved in appropriations Acts, assist the issuer of a
note or other obligation guaranteed under this subchapter in the payment
of all or a portion of the principal and interest amount due under the
note or other obligation, if the Secretary determines that the issuer is
unable to pay the amount because of circumstances of extreme hardship
beyond the control of the issuer.
(Pub. L. 104-330, title VI, Sec. 603, Oct. 26, 1996, 110 Stat. 4047.)
Effective Date
Section effective Oct. 26, 1996, see section 606 of Pub. L. 104-330,
set out as a note under section 4191 of this title.
