Program administration
Title II — Secured loans and loan guarantees for parks and recreation infrastructure development
Read this section in the full bill →
This section appears in one version only, so there is nothing to compare yet.
(a) Requirement The Secretary shall establish a uniform system to service the Federal credit instruments made available under this title. (b) Fees (1) In general The Secretary may collect and spend fees, to the extent provided in advance in appropriations Acts, in amounts sufficient to cover— (A) the costs of services obtained pursuant to subsection (d); and (B) all or a portion of the costs to the Federal Government of servicing the Federal credit instruments provided under this title. (c) Servicer (1) In general The Secretary may appoint a financial entity to assist the Secretary in servicing Federal credit instruments provided under this title. (2) Duties A servicer appointed under paragraph (1) shall act as the agent for the Secretary. (3) Fee A servicer appointed under paragraph (1) shall receive a servicing fee, subject to approval by the Secretary. (d) Assistance from experts The Secretary may retain the services, including counsel, of organizations and entities with expertise in the field of municipal and project finance to assist in the underwriting and servicing of Federal credit instruments provided under this title.