Page:United States Statutes at Large Volume 88 Part 2.djvu/715

 88 STAT. ]

PUBLIC LAW 93-618-JAN. 3, 1975

(ii) gives adequate consideration to the interests of the workers of such firm, and (iii) demonstrates that the firm will make all reasonable efforts to use its own resources for economic development. (2) The Secretary shall make a determination as soon as possible after the date on which an application is filed under this section, but in no event later than 60 days after such date. (c) In order to assist a firm which has been certified as eligible to apply for adjustment assistance under this chapter in preparing a viable adjustment proposal, the Secretary may furnish technical assistance to such firm. (d) Whenever the Secretary determines that any firm no longer requires assistance under this chapter, he shall terminate the certification of eligibility of such firm and promptly have notice of such termination published in the Federal Register, Such termination shall take effect on the termination date specified by the Secretary. SEC. 253. TECHNICAL ASSISTANCE. (a) The technical assistance furnished under this chapter shall consist of— (1) assistance to the firm in developing a proposal for its economic adjustment, (2) assistance in the implementation of such a proposal, or (3) both. (b) The Secretary may provide to a firm certified under section 251, on such terms and conditions as he determines to be appropriate, such technical assistance as in his judgment will carry out the purposes of this chapter with respect to such firm. (c) The Secretary shall furnish technical assistance under this chapter through existing agencies and through private individuals, firms, and institutions. In the case of assistance furnished through private individuals, firms, and institutions (including private consulting services), the Secretary may share the cost thereof (but not more than 75 percent of such cost may be borne by the United States). SEC. 254. FINANCIAL ASSISTANCE. (a) The Secretary may provide to a firm, on such terms and conditions as he determines to be appropriate, such financial assistance in the form of direct loans or guarantees of loans as in his judgment will materially contribute to the economic adjustment of the firm. The assumption of an outstanding indebtedness of the firm, with or without recourse, shall be considered to be the making of a loan for purposes of this section. (b) Loans or guarantees of loans shall be made under this chapter only for the purpose of making funds available to the firm— (1) for acquisition, construction, installation, modernization, development, conversion, or expansion of land, plant, buildings, equipment, facilities, or machinery, or (2) to supply such working capital as may be necessary to enable the firm to implement its adjustment proposal. (c) To the extent that loan funds can be obtained from private sources (with or without a guarantee) at the rate provided in the first sentence of section 255(b), no direct loan shall be provided to a firm under this chapter. SEC. 255. CONDITIONS FOR FINANCIAL ASSISTANCE. (a) No financial assistance shall be provided under this chapter unless the Secretary determines—

2031

Technical assistance.

Termination; publication in Federal R e g i s t e r.

19 USC 2343.

Terms and conditions.

19 USC 2344. Terms and conditions.

Direct l o a n s, restriction.

19 USC 2345.

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