Loan Guarantee Program Proposed Rule Available for Review
Media Contact: Peter Soeth, 303-445-3615
For Release: October 06, 2008
The Bureau of Reclamation has published a proposed rule which will establish eligibility criteria and program requirements for loan guarantees authorized by the Twenty-First Century Water Works Act (Title II, P.L. 109-451). The rule was published in the Federal Register on October 6, 2008, for a 30-day comment period.
The Act authorizes the Secretary of the Interior to issue loan guarantees to assist non-federal borrowers in financing rural water projects, extraordinary maintenance and rehabilitation of Reclamation project facilities, and improvements to infrastructure directly related to a Reclamation project.
Under the proposed rule, Reclamation will only offer loan guarantees to eligible projects that demonstrate they are creditworthy including the ability of the borrower to repay all project financing and pay all other operation, maintenance, and replacement costs of the project facilities.
Comments must be submitted by November 5, 2008, at 11:59 p.m. EST. To submit a comment, go to www.regulations.gov and search for docket identification number BOR-2008-0005 and follow the instructions for submitting a comment. You may also submit by mail to Bureau of Reclamation, Denver Federal Center, P.O. Box 25007, Building 67, Denver, CO 80225, Attention: Randy Christopherson, Mail Code 84-55000.
If you have any questions, please contact Randy Christopherson at 303-445-2729 or firstname.lastname@example.org.
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Reclamation is the largest wholesale water supplier and the second largest producer of hydroelectric power in the United States, with operations and facilities in the 17 Western States. Its facilities also provide substantial flood control, recreation, and fish and wildlife benefits. Visit our website at www.usbr.gov and follow us on Twitter @USBR.