§ 831k-1. — Extension of credit to States, municipalities and nonprofit organizations to assist in operation of existing facilities.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC831k-1]
TITLE 16--CONSERVATION
CHAPTER 12A--TENNESSEE VALLEY AUTHORITY
Sec. 831k-1. Extension of credit to States, municipalities and
nonprofit organizations to assist in operation of existing
facilities
In order (1) to facilitate the disposition of the surplus power of
the Corporation according to the policies set forth in this chapter; (2)
to give effect to the priority herein accorded to States, counties,
municipalities, and nonprofit organizations in the purchase of such
power by enabling them to acquire facilities for the distribution of
such power; and (3) at the same time to preserve existing distribution
facilities as going concerns and avoid duplication of such facilities,
the Board is authorized to advise and cooperate with and assist, by
extending credit for a period of not exceeding five years to, States,
counties, municipalities and nonprofit organizations situated within
transmission distance from any dam where such power is generated by the
Corporation in acquiring, improving, and operating (a) existing
distribution facilities and incidental works, including generating
plants; and (b) interconnecting transmission lines; or in acquiring any
interest in such facilities, incidental works, and lines.
(May 18, 1933, ch. 32, Sec. 12a, as added Aug. 31, 1935, ch. 836,
Sec. 7, 49 Stat. 1076.)
Section Referred to in Other Sections
This section is referred to in sections 831n-1, 831n-3 of this
title.
