25 USC 1499: Limitation on guarantee of debt issues; approval of bond issue sale
Text contains those laws in effect on May 4, 2024
From Title 25-INDIANSCHAPTER 17-FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONSSUBCHAPTER II-LOAN GUARANTY AND INSURANCE
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§1499. Limitation on guarantee of debt issues; approval of bond issue sale
(a) The Secretary may guarantee not to exceed 90 percent of the unpaid principal and interest due on an issue of bonds, debentures, or similar obligations issued by an organization satisfactory to the Secretary. Such an issue shall be deemed a loan for purposes of sections 1482, 1483, 1484, 1485, 1486, 1489, 1490, 1491, 1493, 1494, 1495, 1496, and 1497 of this title.
(b) The method by which an issue of bonds guaranteed under this section may be sold shall be subject to approval by the Secretary.
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