Page:United States Statutes at Large Volume 90 Part 1.djvu/1074

 90 STAT. 1024

PUBLIC LAW 94-370—JULY 26, 1976

energy activity, and the related new population, who reside in the respective coastal states. "(B) The standardized unit costs (as determined by the Secretary by rule), in the relevant regions of such states, for new or improved public facilities and public services which are required as a result of such expected employment and the related new population. "(2) Criteria under which the Secretary shall review each ' coastal state's compliance with the requirements of subsection (g)(2). Criteria and " (3) Criteria and procedures for evaluating the extent to which procedures for any loan or guarantee under subsection (d)(1) or (2) which is repayment. applied for by any coastal state or unit of general purpose local government can be repaid through its ordinary methods and rates for generating tax revenues. Such procedures shall require such state or unit to submit to the Secretary such information which is specified by the Secretary to be necessary for such evaluation, including, but not limited to— "(A) a statement as to the number of additional indi' viduals who are expected to become employed in the new or expanded coastal energy activity involved, and the related new population, who reside in such state or unit; -. "(B) a description, and the estimated costs, of the new or improved public facilities or public services needed or likely -^ to be needed as a result of such expected employment and . ' related new population; "(C) a projection of such state's or unit's estimated tax receipts during such reasonable time thereafter, not to exceed 30 years, which will be available for the repayment of such loan or guarantee; and "(D) a proposed repayment schedule. The procedures required by this paragraph shall also provide for the periodic verification, review, and modification (if necessary) by the Secretary of the information or other material required to be submitted pursuant to this paragraph. "(4) Requirements, terms, and conditions (which may include the posting of security) which shall be imposed by the Secretary, in connection with loans and guarantees made under subsections (d)(1) and (2), in order to assure repayment within the time fixed, to assure that the proceeds thereof may not be used to provide public services for an unreasonable length of time, and otherwise to protect the financial interests of the United States. Interest rate. "(5) Criteria under which the Secretary shall establish rates of interest on loans made under subsections (d)(1) and (3). Such rates shall not exceed the current average market yield on outstanding marketable obligations of the United States with ' remaining periods to maturity comparable to the maturity of such loans. In developing rules and regulations under this subsection, the Secretary shall, to the extent practicable, request the views of, or consult with, appropriate persons regarding impacts resulting from coastal ,_ energy activity. "(f)(1) Bonds or other evidences of indebtedness guaranteed under subsection (d)(2) shall be guaranteed on such terms and conditions as the Secretary shall prescribe, except that— "(A) no guarantee shall be made unless the indebtedness involved will be completely amortized within a reasonable period, not to exceed 30 years;

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