2007 U.S. Code
Title 30 - MINERAL LANDS AND MINING
CHAPTER 27 - GEOTHERMAL ENERGY
SUBCHAPTER I - PROJECT LOANS
Sec. 1513 - Loan interest rates; repayment periods
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 1, Title 30 - MINERAL LANDS AND MINING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 30 - MINERAL LANDS AND MINING CHAPTER 27 - GEOTHERMAL ENERGY SUBCHAPTER I - PROJECT LOANS Sec. 1513 - Loan interest rates; repayment periods |
| Contains | section 1513 |
| Date | 2007 |
| Laws in Effect as of Date | January 8, 2008 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 96-294, title VI, §613, June 30, 1980, 94 Stat. 764. |
| Statutes at Large Reference | 94 Stat. 764 |
| Public Law Reference | Public Law 96-294 |
§1513. Loan interest rates; repayment periods
(a) Each loan made under section 1511 of this title shall bear interest at a discount or interest rate equal to the rate in effect (at the time the loan is made) for water resources planning projects under section 80 of the Water Resources Development Act of 1974 (42 U.S.C. 1962(d)–17(a)).1
(b) Each such loan shall be for a term which the Secretary deems appropriate, except that no loan term shall exceed twenty years beyond the date on which production of energy or geothermal energy resources begins from the reservoir involved. If revenues are inadequate (as determined by the Secretary) to fully repay the principal and accrued interest within twenty years after production begins, any remaining unpaid amounts shall be forgiven.
(Pub. L. 96–294, title VI, §613, June 30, 1980, 94 Stat. 764.)
1 So in original. Should be “(42 U.S.C. 1962d–17(a)).”
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