A bill to amend the Federal Water Pollution Control Act, as amended.
PL 94-558 (S.3894), enacted 10/19/1976

PUBLIC LAW 94-558--OCT. 19, 1976 
90 STAT. 2639 
Public Law 94-558 
94th Congress 
An Act 
To amend the Federal Water Pollution Control Act, as amended. 
Be it enacted hy the Senate and House of Representatweg of the 
United States of America in Congress assembled, That Title II of the 
Federal Water Pollution Control Act, as amended, is amended by add-
ing the following new section: 
"LOAN GUARANTEES FOR CONSTRUCTION OF TREATMENT WORKS 
"SEC. 213. (a) Subject to the conditions of this section and to such 
terms and conditions as the Administrator determines to be necessary 
to carry out the purposes of this title, the Administrator is authorized 
to guarantee, and to make commitments to guarantee, the principal and 
interest (including interest accruing between the date of default and 
the date of the payment in full of the guarantee^ of any loan, obliga-
tion, or participation therein of any State, municipality, or intermu-
nicipal or interstate agency issued directly and exclusively to the 
Federal Financing Bank to finance that part of the cost of any grant-
eligible project for the construction of publicly owned treatment works 
not paid for with Federal financial assistance under this title (other 
than this section), which project the Administrator has determined 
to be eligible for such financial assistance under this title, including, 
but not limited to, projects eligible for reimbursement under section 
206 of this title. 
"(b) No guarantee, or commitment to make a guarantee, may be 
made pursuant to this section— 
"(1) unless the Administrator certifies that the issuing body 
is unable to obtain on reasonable terms sufficient credit to finance 
its actual needs without such guarantee; and 
" (2) unless the Administrator determines that there is a reason-
able assurance of repayment of the loan, obligation, or participa-
tion therein. 
A determination of whether financing is available at reasonable rates 
shall be made by the Secretary of the Treasury with relationship to 
the current average yield on outstanding marketable obligations of 
municipalities of comparable maturity. 
"(c) The Administrator is authorized to charge reasonable fees 
for the investigation of an application for a guarantee and for the 
issuance of a commitment to make a guarantee. 
Oct. 19, 1976 
[S. 3894] 
Federal Water 
Pollution Control 
Act, amendment. 
33 
use 
1293. 
33 
use 
1286. 
Fees. 
90 STAT. 2640 
PUBLIC LAW 94-558—OCT. 19, 1976 
"(d) The Administrator, in determining whether there is a reason-
able assurance of repayment, may require a commitment which would 
apply to such repayment. Such commitment may include, but not be 
limited to, (1) all or any portion of the funds retained by such 
33 use 1284. 
grantee under section 204(b)(3) of this Act, and (2) any funds 
received by such grantee from the amounts appropriated under section 
33 use 1286. 
206 of this Act.". 
Approved October 19, 1976. 
LEGISLATIVE HISTORY: 
CONGRESSIONAL RECORD, Vol. 122 (1976): 
Oct. 1, considered and passed Senate and House. 
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 12, No. 43: 
Oct. 20, Presidential statement.