§ 2213. — Loans.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 43USC2213]
TITLE 43--PUBLIC LANDS
CHAPTER 40--RECLAMATION STATES EMERGENCY DROUGHT RELIEF
SUBCHAPTER I--DROUGHT PROGRAM
Sec. 2213. Loans
The Secretary of the Interior is authorized to make loans to water
users for the purposes of undertaking construction, management,
conservation activities, or the acquisition and transportation of water
consistent with State law, that can be expected to have an effect in
mitigating losses and damages, including those suffered by fish and
wildlife, resulting from drought conditions. Such loans shall be made
available under such terms and conditions as the Secretary deems
appropriate: Provided, That the Secretary shall not approve any loan
unless the applicant can demonstrate an ability to repay such loan
within the term of the loan: Provided further, That for all loans
approved by the Secretary under the authority of this section, the
interest rate shall be the rate determined by the Secretary of the
Treasury based on average market yields on outstanding marketable
obligations of the United States with periods to maturity comparable to
the repayment period of the loan. The repayment period for loans issued
under this section shall not exceed fifteen years. The repayment period
for such loans shall begin when the loan is executed. Sections 390cc(a)
and 390tt of this title and sections 105 and 106 of Public Law 99-546
shall not apply to any contract to repay such loan. The Secretary shall
notify the Committee on Energy and Natural Resources of the Senate and
the Committee on Natural Resources of the House of Representatives in
writing of any loan which the Secretary intends to approve not less than
thirty days prior to granting final approval.
(Pub. L. 102-250, title I, Sec. 103, Mar. 5, 1992, 106 Stat. 55; Pub. L.
103-437, Sec. 16(a)(6), Nov. 2, 1994, 108 Stat. 4594.)
References in Text
Sections 105 and 106 of Public Law 99-546, referred to in text, are
sections 105 and 106 of Pub. L. 99-546, title I, Oct. 27, 1986, 100
Stat. 3051, 3052, relating to the automatic adjustment of rates for
contracts for delivery of water from the Central Valley project in
California, and provisions of such contracts requiring repayment by
project water contractors of any deficits in payments of operation and
maintenance costs, respectively, and are not classified to the Code.
Amendments
1994--Pub. L. 103-437 substituted ``Natural Resources'' for
``Interior and Insular Affairs'' before ``of the House''.
Change of Name
Committee on Natural Resources of House of Representatives treated
as referring to Committee on Resources of House of Representatives by
section 1(a) of Pub. L. 104-14, set out as a note preceding section 21
of Title 2, The Congress.
Termination of Authorities
For provisions directing that authorities established under this
subchapter shall terminate ten years after Mar. 5, 1992, see section
2214(c) of this title.
