
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 33USC2216]

 
                TITLE 33--NAVIGATION AND NAVIGABLE WATERS
 
                 CHAPTER 36--WATER RESOURCES DEVELOPMENT
 
                       SUBCHAPTER I--COST SHARING
 
Sec. 2216. Rate of interest

    Whenever a non-Federal interest is required or elects to repay an 
amount under this Act over a period of time, the amount to be repaid 
shall include interest at a rate determined by the Secretary of the 
Treasury, taking into consideration the average market yields on 
outstanding marketable obligations of the United States with remaining 
periods to maturity comparable to the reimbursement period, during the 
month preceding the fiscal year in which costs for the construction of 
the project are first incurred (or in the case of recalculation the 
fiscal year in which the recalculation is made), plus a premium of one-
eighth of one percentage point for transaction costs; except that such 
rates for hydroelectric power shall be in accordance with existing law.

(Pub. L. 99-662, title I, Sec. 106, Nov. 17, 1986, 100 Stat. 4089.)

                       References in Text

    This Act, referred to in text, is Pub. L. 99-662, Nov. 17, 1986, 100 
Stat. 4082, as amended, known as the Water Resources Development Act of 
1986. For complete classification of this Act to the Code, see Short 
Title note set out under section 2201 of this title and Tables.

                  Section Referred to in Other Sections

    This section is referred to in sections 2211, 2213 of this title.
