2011 US Code
Title 23 - Highways
Chapter 6 - INFRASTRUCTURE FINANCE (§§ 601 - 610)
Section 604 - Lines of credit
View MetadataPublication Title | United States Code, 2006 Edition, Supplement 5, Title 23 - HIGHWAYS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 23 - HIGHWAYS CHAPTER 6 - INFRASTRUCTURE FINANCE Sec. 604 - Lines of credit |
Contains | section 604 |
Date | 2011 |
Laws in Effect as of Date | January 3, 2012 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Added Pub. L. 105-178, title I, §1503(a), June 9, 1998, 112 Stat. 247, §184; renumbered §604 and amended Pub. L. 109-59, title I, §§1601(e), 1602(b)(4), (d), Aug. 10, 2005, 119 Stat. 1241, 1247. |
Statutes at Large References | 112 Stat. 247 119 Stat. 1241 |
Public Law References | Public Law 105-178, Public Law 109-59 |
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(a)
(1)
(2)
(3)
(4)
(b)
(1)
(2)
(3)
(4)
(5)
(A) shall—
(i) be payable, in whole or in part, from tolls, user fees, or other dedicated revenue sources that also secure the senior project obligations; and
(ii) include a rate covenant, coverage requirement, or similar security feature supporting the project obligations; and
(B) may have a lien on revenues described in subparagraph (A) subject to any lien securing project obligations.
(6)
(7)
(A)
(B)
(8)
(9)
(10)
(c)
(1)
(2)
(Added Pub. L. 105–178, title I, §1503(a), June 9, 1998, 112 Stat. 247, §184; renumbered §604 and amended Pub. L. 109–59, title I, §§1601(e), 1602(b)(4), (d), Aug. 10, 2005, 119 Stat. 1241, 1247.)
Amendments2005—Pub. L. 109–59, §1602(d), renumbered section 184 of this title as this section.
Subsec. (a)(1). Pub. L. 109–59, §1602(b)(4)(A), substituted “602” for “182”.
Subsec. (a)(3). Pub. L. 109–59, §1602(b)(4)(B), substituted “602(b)(2)(B)” for “182(b)(2)(B)”.
Subsec. (b)(2). Pub. L. 109–59, §1601(e)(1)(A), added par. (2) and struck out heading and text of former par. (2). Text read as follows:
“(A)
“(B) 1-
Subsec. (b)(3). Pub. L. 109–59, §1601(e)(1)(B), substituted “but not including reasonably required financing reserves” for “, any debt service reserve fund, and any other available reserve”.
Subsec. (b)(4). Pub. L. 109–59, §1601(e)(1)(C), struck out “marketable” before “United States Treasury securities” and substituted “date of execution of the line of credit agreement” for “date on which the line of credit is obligated”.
Subsec. (b)(5)(A)(i). Pub. L. 109–59, §1601(e)(1)(D), inserted “that also secure the senior project obligations” after “sources”.
Subsec. (b)(6). Pub. L. 109–59, §1601(e)(1)(E), substituted “The full amount of the line of credit, to the extent not drawn upon,” for “The line of credit”.
Subsec. (b)(10). Pub. L. 109–59, §1602(b)(4)(C), substituted “603” for “183”.
Subsec. (c)(2). Pub. L. 109–59, §1601(e)(2)(A), struck out “scheduled” before “repayments”, inserted “be scheduled to” after “shall”, and substituted “to conclude, with full repayment of principal and interest,” for “be fully repaid, with interest,”.
Subsec. (c)(3). Pub. L. 109–59, §1601(e)(2)(B), struck out heading and text of par. (3). Text read as follows: “The sources of funds for scheduled loan repayments under this section shall include tolls, user fees, or other dedicated revenue sources.”
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