
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC8832]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
              CHAPTER 96--BIOMASS ENERGY AND ALCOHOL FUELS
 
              SUBCHAPTER II--MUNICIPAL WASTE BIOMASS ENERGY
 
Sec. 8832. Construction loans


(a) Authority of Secretary of Energy

    Subject to sections 8835 and 8836 of this title, the Secretary of 
Energy may commit to make, and make, loans for the construction of 
municipal waste energy projects.

(b) Estimated project construction costs as determinative of initial and 
        revised amount of loan; interest rate

    (1) Any loan under this section--
        (A) may not exceed 80 per centum of the total estimated cost of 
    the construction of the municipal waste energy project involved, and
        (B) shall bear interest at a rate determined by the Secretary of 
    Energy (taking into consideration the current average market yield 
    on outstanding marketable obligations of the United States with 
    remaining periods to maturity comparable to the average maturities 
    of such loans) plus not to exceed one per centum, as determined by 
    the Secretary of Energy, and adjusted to the nearest one-eighth of 
    one per centum.

    (2) In the event the total estimated costs of construction of the 
project thereafter exceed the total estimated costs initially determined 
by the Secretary of Energy, the Secretary may in addition, upon 
application therefor, make a loan for so much of the additional 
estimated costs as does not exceed 10 per centum of the initial total 
estimated costs of construction.

(c) Preconditions

    A loan may not be made under this section unless the person applying 
for such loan has established to the satisfaction of the Secretary of 
Energy that the applicant is unable without such a loan to obtain 
sufficient credit elsewhere at reasonable rates and terms, taking into 
consideration prevailing market rates and terms for loans for similar 
periods of time, to finance the construction of the project for which 
such loan is sought.

(Pub. L. 96-294, title II, Sec. 232, June 30, 1980, 94 Stat. 697.)

                  Section Referred to in Other Sections

    This section is referred to in sections 8835, 8836 of this title.
