Page:United States Statutes at Large Volume 106 Part 2.djvu/822

From Wikisource
Jump to navigation Jump to search
This page needs to be proofread.

106 STAT. 1702 PUBLIC LAW 102-391—OCT. 6, 1992 such ^arantees and except that, to the extent section 223 is inconsistent with the Federcd Credit Reform Act of 1990, that Act shall apply. Loans shall he guaranteed under this section without regard to sections 221, 222, and 238(c). Notwithstanding section 223(f), the interest rate for loans guaranteed under this section may include a reasonable fee to cover the costs and fees incurred by the borrower in connection with this program or financing under this section in the event the borrower elects not to finance such costs or fees out of loan principal. Guarantees once issued hereunder shall be unconditional and fully and freely transferable, "(m) TERMS AND Co^fDITIONS. — "(1) Each loan guarantee issued under this section shall guarantee 100 percent of the principal and interest payable on such loans. "(2) The standard terms of any loan or increment ^aranteed under this section shall be 30 years with semiannual payments of interest only over the first 10 years, and with semiannual payments of principal and interest on a level pay- ment basis, over the last^^O years thereof, except that the guaranteed loan or any increments issued in a single transaction may include obligations having different maturities, interest rates, and payment terms if the aggregate scheduled debt service for all obligations issued in a single transaction equals the d^t service for a single loan or increment of like amount having the standard terms described in this sentence. The guarantor shall not have the right to accelerate any guaranteed loan or increment or to pay any amounts in respect ' of the guarantees issued other than in accordance with the original payment terms of the loan. For purposes of determining the maximum principal amount of any loan or increment to be guaranteed under this section, the principal amount of each such loan or increment shall be— "(A) in the case of any loan issued on a discount basis, the original issue price (excluding any transaction costs) thereof; or "(B) in the case of any loan issue on an interestbearing basis, the stated principal amount thereof.". This Act may be cited as the "Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1993". Approved October 6, 1992. LEGISLATIVE HISTORY—H.R. 5368: HOUSE REPORTS: Nos. 102-585 (Ctomm. on Appropriations) and 102-1011 (Comm. of Conference). SENATE REPORTS: No. 102-419 (Comm. on Appropriations). CONGRESSIONAL RECORD, Vol. 138 (1992): June 25, considered and passed House. Sept. 30, Oct. 1, considered and passed Senate, amended. Oct. 5, House and Senate agreed to conference report. WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 28 (1992): Oct. 6, Presidential statement.