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U.S. Code as of:
01/19/04
Section 831k-1. Extension of credit to States, municipalities and nonprofit organizations to assist in operation of existing facilities
In order (1) to facilitate the disposition of the surplus power
of the Corporation according to the policies set forth in this
chapter; (2) to give effect to the priority herein accorded to
States, counties, municipalities, and nonprofit organizations in
the purchase of such power by enabling them to acquire facilities
for the distribution of such power; and (3) at the same time to
preserve existing distribution facilities as going concerns and
avoid duplication of such facilities, the Board is authorized to
advise and cooperate with and assist, by extending credit for a
period of not exceeding five years to, States, counties,
municipalities and nonprofit organizations situated within
transmission distance from any dam where such power is generated by
the Corporation in acquiring, improving, and operating (a) existing
distribution facilities and incidental works, including generating
plants; and (b) interconnecting transmission lines; or in acquiring
any interest in such facilities, incidental works, and lines.
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