elimination of requirement for bond counsel for certain water and waste disposal facility loans

elimination of requirement for bond counsel for certain water and waste disposal facility loans Sec. 104. Section 306(a)(1) of the Consolidated Farm and Rural Development Act is amended by adding at the end thereof the following: “With respect to loans of less than $500,000 made or insured under this paragraph that are evidenced by notes and mortgages, as distinguished from bond issues, borrowers shall not be required to appoint bond counsel to review the legal validity of the loan whenever the Secretary has available legal counsel to perform such review.”.