Page:United States Statutes at Large Volume 90 Part 2.djvu/1171

 PUBLIC LAW 94-558--OCT. 19, 1976

90 STAT. 2639

Public Law 94-558 94th Congress An Act To amend the Federal Water Pollution Control Act, as amended.

Oct. 19, 1976 [S. 3894]

Be it enacted by the Senate and House of Representatweg of the United States of America in Congress assembled, That Title II of the Federal Water Pollution Control Act, as amended, is amended by adding the following new section:

Federal Water Pollution Control Act, amendment.

"LOAN GUARANTEES FOR CONSTRUCTION OF TREATMENT WORKS

"SEC. 213. (a) Subject to the conditions of this section and to such 33 USC 1293. terms and conditions as the Administrator determines to be necessary to carry out the purposes of this title, the Administrator is authorized to guarantee, and to make commitments to guarantee, the principal and interest (including interest accruing between the date of default and the date of the payment in full of the guarantee^ of any loan, obligation, or participation therein of any State, municipality, or intermunicipal or interstate agency issued directly and exclusively to the Federal Financing Bank to finance that part of the cost of any granteligible project for the construction of publicly owned treatment works not paid for with Federal financial assistance under this title (other than this section), which project the Administrator has determined to be eligible for such financial assistance under this title, including, but not limited to, projects eligible for reimbursement under section 33 USC 1286. 206 of this title. "(b) No guarantee, or commitment to make a guarantee, may be made pursuant to this section— "(1) unless the Administrator certifies that the issuing body is unable to obtain on reasonable terms sufficient credit to finance its actual needs without such guarantee; and " (2) unless the Administrator determines that there is a reasonable assurance of repayment of the loan, obligation, or participation therein. A determination of whether financing is available at reasonable rates shall be made by the Secretary of the Treasury with relationship to the current average yield on outstanding marketable obligations of municipalities of comparable maturity. "(c) The Administrator is authorized to charge reasonable fees Fees. for the investigation of an application for a guarantee and for the issuance of a commitment to make a guarantee.

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