§1882.5-5. Security for a loan.
43 C.F.R. § 1882.5-5
The only security for loans made under this subpart shall be the mineral revenues received by a qualified State or its political subdivisions under the Act. Loans made under this subpart shall not constitute an obligation upon the general property or taxing authority of the qualified recipient.
Notes, amendments, and revision history
Authority
Authority: Sec. 317(c), Federal Land Policy and Management Act of 1976, as amended (43 U.S.C. 1740) (90 Stat. 2767).
Source
Source: 43 FR 57887, Dec. 11, 1978, unless otherwise noted.