Page:United States Statutes at Large Volume 106 Part 6.djvu/130

 106 STAT. 4688 PUBLIC LAW 102-575—OCT. 30, 1992 tions of the provisions of the Federal Reclamation Law (Act of June 17, 1902, and Acts amendatory thereof or supplementary thereto, including the Reclamation Reform Act of 1982), including acreage limitations, to the extent such provisions would apply absent such prepayment; or (b) authorize the transfer of title to any federally owned facilities funded by the loans specified in section 2201 of this title without a specific Act of Congress. SEC. 2403. FEES AND EXPENSES OF PROGRAM. In addition to the amount to be realized by the United States as provided in section 2201, the Redwood Valley County Water District shall pay all reasonable fees and expenses incurred by the Secretary relative to the sale. SEC. 2404. TERMINATION OF AUTHORITY. The authority granted by this title to sell loans shall terminate two years after the date of enactment of this Act: Provided, That the borrower shall have at least sixty days to respond to any prepayment offer made by the Secretary. TITLE XXV—UNITED WATER CONSERVATION DISTRICT, CALIFORNIA SEC. 2501. SALE OF THE FREEMAN DIVERSION IMPROVEMENT PROJECT LOAN. (a) AGREEMENT. — (1) IN GENERAL.— As soon as practicable after the date of enactment of this Act, the Secretary of the Interior shall conduct appropriate investigations regarding, and is authorized to sell, or accept prepayment on, the loan contract described in paragraph (2) to the United Water Conservation District in California (referred to in this title as the "District") for the Freeman Diversion Improvement Project. (2) LOAN CONTRACT. —The loan contract described in paragraph (1) is numbered 7-07 -20-W0615 and was entered into pursuant to the Small Reclamation Projects Act of 1956 (43 U.S.C. 422a et seq.). (b) PAYMENT. — Any agreement negotiated pursuant to subsection (a) shall realize an amount to the Federal Government calculated by discounting the remaining payments due on the loans by the interest rate determined according to this section. (c) The Secretary shall determine the interest rate in accordance with the guidelines set forth in Circular A-129 issued by the Ofllce of Management and Budget concerning loan sales and prepay- ment of loans. (d) In determining the interest rate, the Secretary— (1) shall not equate an appropriate amount of prepa3ment with the price of the loan if it were to be sold on me open market to a third party, and (2) shall, in following the guidelines set forth in Circular A-129 regarding an allowance for administrative expenses and possible losses, make such an allowance from the perspective of the Federal Government as lender and not from the perspective of a third party purchasing the loan on the open market. (e) If the borrower or purchaser of the loan has access to tax-exempt financing (including, but not limited to, tax-exempt bonds, tax-exempt cash reserves, and cash and loans of any kind

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