§ 618e. — Interest payments; rate.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 43USC618e]
TITLE 43--PUBLIC LANDS
CHAPTER 12A--BOULDER CANYON PROJECT
SUBCHAPTER II--BOULDER CANYON PROJECT ADJUSTMENT ACT
Sec. 618e. Interest payments; rate
Whenever by the terms of the Project Act [43 U.S.C. 617 et seq.] or
this subchapter payment of interest is provided for, and whenever
interest shall enter into any computation thereunder, such interest
shall be computed at the rate of 3 per centum per annum, compounded
annually: Provided, That the respective rates of interest on
appropriated funds advanced for the visitor facilities program, as
described in section 619(a) of this title, shall be determined by the
Secretary of the Treasury, taking into consideration average market
yields on outstanding marketable obligations of the United States with
remaining periods to maturity comparable to the reimbursement period of
the program during the month preceding the fiscal year in which the
costs of the program are incurred. To the extent that more than one
interest rate is determined pursuant to the preceding sentence, the
Secretary of the Treasury shall establish for repayment purposes an
interest rate at a weighted average of the rates so determined.
(July 19, 1940, ch. 643, Sec. 6, 54 Stat. 777; Pub. L. 98-381, title I,
Sec. 104(a)(5), Aug. 17, 1984, 98 Stat. 1335.)
References in Text
The Project Act, referred to in text, is defined in section 618k of
this title.
Amendments
1984--Pub. L. 98-381 inserted proviso relating to rates of interest
on appropriated funds advanced for visitors' facilities program.
