15 U.S.C. § 689d: Debentures

The Administrator may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any New Markets Venture Capital company. The Administrator may make guarantees under this section on such terms and conditions as it deems appropriate, except that the term of any debenture guaranteed under this section shall not exceed 15 years. The full faith and credit of the United States is pledged to pay all amounts that may be required to be paid under any guarantee under this part. Under this section, the Administrator may guarantee the debentures issued by a New Markets Venture Capital company only to be 1 extent that the total face amount of outstanding guaranteed debentures of such company does not exceed 150 percent of the private capital of the company, as determined by the Administrator. 1 So in original. Probably should be “the”. For the purposes of paragraph (1), private capital shall include capital that is considered to be Federal funds, if such capital is contributed by an investor other than an agency or department of the Federal Government. granted final approval by the Administrator under section 689c(e) of this title on or after March 1, 2002 ; and that has obtained a financing from the Administrator. the regulatory capital of the covered New Markets Venture Capital company; and the total amount of leverage projected in the participation agreement of the covered New Markets Venture Capital.