§ 2703. — Loans for project costs.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC2703]
TITLE 16--CONSERVATION
CHAPTER 47--SMALL HYDROELECTRIC POWER PROJECTS
Sec. 2703. Loans for project costs
(a) Authority
The Secretary is authorized to make loans to any municipality,
electric cooperative, industrial development agency, nonprofit
organization, or other person of up to 75 percent of the project costs
of a small hydroelectric power project. No such loan may be made unless
the Secretary finds that--
(1) the project will be constructed in connection with an
existing dam or dams,
(2) all licenses and other required Federal, State, and local
approvals necessary for construction of the project have been
issued,
(3) the project will have no significant adverse environmental
effects, including significant adverse effects on fish and wildlife,
on recreational use of water, and on stream flow, and
(4) the project will not have a significant adverse effect on
any other use of the water used by such project.
The Secretary may make a commitment to make a loan under this subsection
to an applicant who has not met the requirements of paragraph (2),
pending compliance by such applicant with such requirements. Such
commitment shall be for period \1\ of not to exceed 3 years unless the
Secretary, in consultation with the Commission, extends such period for
good cause shown. Notwithstanding any such commitment, no such loan
shall be made before such person has complied with such requirements.
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\1\ So in original. Probably should be ``for a period''.
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(b) Preference
The Secretary shall give preference to applicants under this section
who do not have available alternative financing which the Secretary
deems appropriate to carry out the project and whose projects will
provide useful information as to the technical and economic feasibility
of--
(1) the generation of electric energy by such projects, and
(2) the use of energy produced by such projects.
(c) Information
Every applicant for a license for a small hydroelectric power
project receiving loans pursuant to this section shall furnish the
Secretary with such information as the Secretary may require regarding
equipment and services proposed to be used in the design, construction,
and operation of such project. The Secretary shall have the right to
forbid the use in such project of any equipment or services he finds
inappropriate for such project by reason of cost, performance, or
failure to carry out the purposes of this section. The Secretary shall
make information which he obtains under this subsection available to the
public, other than information described as entitled to confidentiality
under section 796(d) of title 15.
(d) Joint participation
In making loans for small hydroelectric power projects under this
section, the Secretary shall encourage joint participation, to the
extent permitted by law, by applicants eligible to receive loans under
this section with respect to the same project.
(Pub. L. 95-617, title IV, Sec. 403, Nov. 9, 1978, 92 Stat. 3155.)
References in Text
The Secretary, referred to in text, and the Commission, referred to
in subsec. (a), mean the Secretary of Energy and the Federal Energy
Regulatory Commission, respectively, see section 2602(3), (14) of this
title.
Section Referred to in Other Sections
This section is referred to in sections 2704, 2707 of this title;
title 42 section 7375.
