A Bill To Authorize Funds For Federal-Aid Highways, Highway Safety Programs, And Transit Programs, And For Other Purposes - 114th Congress 1st Session Page 217

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F:\M14\SHUSTE\SHUSTE_044.XML
217
1
cured by a common security pledge on terms
2
acceptable to the Secretary.
3
‘‘(B) A
-
DEQUATE
FUNDING
NOT
AVAIL
4
.—If the Secretary fully obligates funding
ABLE
5
to eligible projects in a fiscal year, and ade-
6
quate funding is not available to fund a credit
7
instrument, a project sponsor of an eligible
8
project may elect to enter into a master credit
9
agreement and wait to execute a credit instru-
10
ment until the fiscal year during which addi-
11
tional funds are available to receive credit as-
12
sistance.’’.
13
(c) E
P
C
.—Section 602(a)(5)
LIGIBLE
ROJECT
OSTS
14
of title 23, United States Code, is amended—
15
(1) in subparagraph (A) by inserting ‘‘and (C)’’
16
after ‘‘(B)’’; and
17
(2) by adding at the end the following:
18
‘‘(C)
L
OCAL
INFRASTRUCTURE
19
.—Eligible project costs shall be rea-
PROJECTS
20
sonably
anticipated
to
equal
or
exceed
21
$10,000,000 in the case of a project or pro-
22
gram of projects—
23
‘‘(i) in which the applicant is a local
24
government, public authority, or instru-
25
mentality of local government;
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