Page:United States Statutes at Large Volume 110 Part 1.djvu/1158

 110 STAT. 1134 PUBLIC LAW 104-127—APR. 4, 1996 "(E) ADMINISTRATION. —The Center may not use more than 3 percent of the amounts in the Fund for a fiscal year for the administration of the Center. "(F) INFLUENCING LEGISLATION. — None of the amounts in the Fund may be used to influence legislation. "(G) ACCOUNTING. —To be eligible to receive amounts from the Fund, an entity must agree to account for the amounts using generally accepted accounting principles. "(H) USES OF FUND.— The Center may use amounts in the Fund to— "(i) participate with Federal and State agencies in financing activities that are in accordance with a strategic plan submitted under subsection (d), including participation with several States in a regional effort; "(ii) participate with other public and private funding sources in financing activities that are in accordance with the strategic plan, including participation in a regional effort; "(iii) provide security for, or make principal or interest payments on, revenue or general obligation bonds issued by a State, if the proceeds from the sale of the bonds are deposited in the Fund; "(iv) accrue interest; "(v) guarantee or purchase insurance for local obligations to improve credit market access or reduce interest rates for a project that is in accordance with the strategic plan; or "(vi) sell assets, loans, and equity interests acquired in connection with the financing of projects funded by the Center. "(4) LOANS. — "(A) RATE.—^A loan from the Fund may be made at an interest rate that is below the market rate or may be interest free. "(B) TERM. —The term of a loan may not exceed the shorter of— "(i) the useful life of the activity financed; or "(ii) 40 years. "(C) SOURCE OF REPAYMENT.— The Center may not make a loan from the Fund unless the recipient establishes an assured source of repayment. "(D) PROCEEDS. — All payments of principal and interest on a loan made from the Fund shall be deposited into the Fund. "(5) MAINTENANCE OF EFFORT.— The Center shall use the Fund only to supplement and not to supplant Federal, State, and private funds expended for rural development. "(6) FUNDING. — "(A) DEPOSIT OF FUNDS. —All Federal and non-Federal amounts received by the Center to carry out this section shall be deposited in the Fund. "(B) MANDATORY FUNDS.— Out of any moneys in the Treasury not otherwise appropriated, the Secretary of the Treasury shall provide to the Center not to exceed $20,000,000 to carry out this section.

�