View all text of Subchapter II [§ 2421 - § 2434]
§ 2422. Project eligibility
(a) Eligibility criteria
(1) In general
(2) Inclusions
Eligibility criteria shall include—
(A) submission of an application by the lender to the Secretary;
(B) demonstration of the creditworthiness of the project, including a determination by the Secretary that any financing for the project has appropriate security features to ensure repayment;
(C) demonstration by the non-Federal borrower, to the satisfaction of the Secretary, of the ability of the non-Federal borrower to repay the project financing from user fees or other dedicated revenue sources;
(D) demonstration by the non-Federal borrower, to the satisfaction of the Secretary, of the ability of the non-Federal borrower to pay all operations, maintenance, and replacement costs of the project facilities; and
(E) such other criteria as the Secretary determines to be appropriate.
(b) Waiver
(c) Projects previously authorized
(d) Criteria for rural water supply projects
(Pub. L. 109–451, title II, § 203, Dec. 22, 2006, 120 Stat. 3357.)