Page:United States Statutes at Large Volume 112 Part 1.djvu/271

 PUBLIC LAW 105-178—JUNE 9, 1998 112 STAT. 245 "(1) Title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d et seq.). "(2) The National Environmental Policy Act of 1969 (42 U.S.C. 432 let seq.). "(3) The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 (42 U.S.C. 4601 et seq.). '*§ 183. Secured loans "(a) IN GENERAL. — "(1) AGREEMENTS. —Subject to paragraphs (2) through (4), the Secretary may enter into agreements with 1 or more obligors to make secured loans, the proceeds of which shall be used— "(A) to finance eligible project costs; or "(B) to refinance interim construction financing of eligible project costs; of any project selected under section 182. "(2) LIMITATION ON REFINANCING OF INTERIM CONSTRUCTION FINANCING.— ^A loan under paragraph (1) shall not refinance interim construction financing under paragraph (1)(B) later than 1 year after the date of substantial completion of the project. "(3) RISK ASSESSMENT.—Before entering into an agreement under this subsection, the Secretary, in consultation with the Director of the Office of Management and Budget and each rating agency providing a preliminary rating opinion letter under section 182(b)(2)(B), shall determine an appropriate capital reserve subsidy amount for each secured loan, taking into account such letter. "(4) INVESTMENT-GRADE RATING REQUIREMENT.— The funding of a secured loan under this section shall be contingent on the project's senior obligations receiving an investmentgrade rating, except that— "(A) the Secretary may fund an amount of the secured loan not to exceed the capital reserve subsidy amount determined under paragraph (3) prior to the obligations receiving an investment-grade rating; and "(B) the Secretary may fund the remaining portion of the secured loan only after the obligations have received an investment-grade rating by at least 1 rating agency. " (b) TERMS AND LIMITATIONS.— "(1) IN GENERAL.—^A secured loan under this section with respect to a project shall be on such terms and conditions and contain such covenants, representations, warranties, and requirements (including requirements for audits) as the Secretary determines appropriate. "(2) MAXIMUM AMOUNT. —The amount of the secured loan shall not exceed 33 percent of the reasonably anticipated eligible project costs. "(3) PAYMENT. — The secured loan— " (A) shall— "(i) be payable, in whole or in part, from tolls, user fees, or other dedicated revenue sources; and "(ii) include a rate covenant, coverage requirement, or similar security feature supporting the project obligations; and

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