Pub. L. 94-423, tit. VII, sec. 704

Pub. L. 94-423, tit. VII, sec. 704

EnactedYear: 1976Length: 83 wordsOfficial source
Sec. 704. The interest, rate used for computing interest during construction and interest on the unpaid balance of the reimbursable costs of the project shall be determined by the Secretary of the Treasury, as of the beginning of (he fiscal year in which construction of the project is commenced, on the basis of the computed average interest rate payable by the Treasury upon its outstanding marketable public obligations which are neither due nor callable for redemption for fifteen years from date of issue.
Pub. L. 94-423, tit. VII, sec. 704 | Justis AI