33 U.S.C. § 2216 — Rate of interest

FEDERAL · 33 U.S.C. · Chapter SUBCHAPTER I—COST SHARING

Rate of interest

33 U.S.C. § 2216

Title33 — Navigation and Navigable Waters

ChapterSUBCHAPTER I—COST SHARING

This text of 33 U.S.C. § 2216 (Rate of interest) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

33 U.S.C. § 2216.

Text

Whenever a non-Federal interest is required or elects to repay an amount under this Act over a period of time, the amount to be repaid shall include interest at a rate determined by the Secretary of the Treasury, taking into consideration the average market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period, during the month preceding the fiscal year in which costs for the construction of the project are first incurred (or in the case of recalculation the fiscal year in which the recalculation is made), plus a premium of one-eighth of one percentage point for transaction costs; except that such rates for hydroelectric power shall be in accordance with existing law.

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Whenever a non-Federal interest is required or elects to repay an amount under this Act over a period of time, the amount to be repaid shall include interest at a rate determined by the Secretary of the Treasury, taking into consideration the average market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period, during the month preceding the fiscal year in which costs for the construction of the project are first incurred (or in the case of recalculation the fiscal year in which the recalculation is made), plus a premium of one-eighth of one percentage point for transaction costs; except that such rates for hydroelectric power shall be in accordance with existing law.

Source Credit

History

(Pub. L. 99–662, title I, §106, Nov. 17, 1986, 100 Stat. 4089.)

Editorial Notes

Editorial Notes

References in Text
This Act, referred to in text, is Pub. L. 99–662, Nov. 17, 1986, 100 Stat. 4082, known as the Water Resources Development Act of 1986. For complete classification of this Act to the Code, see Short Title note set out under section 2201 of this title and Tables.

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Bluebook (online)

33 U.S.C. § 2216, Counsel Stack Legal Research, https://law.counselstack.com/usc/33/2216.