[Code of Federal Regulations]
[Title 43, Volume 1]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR29.12]

[Page 474]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
PART 29--TRANS-ALASKA PIPELINE LIABILITY FUND--Table of Contents
 
Sec. 29.12  Borrowing.

    In the event the Fund is unable to satisfy a claim determined to be 
justified, or is in need of money with which to initiate the operation 
of the Fund, the Fund may borrow the money needed from any commercial 
credit source at the lowest available rate of interest. If the amount to 
be borrowed is $500,000 or less, the Administrator may arrange to pledge 
the credit of the Fund pursuant to a resolution of the Board of 
Trustees. If the proposed borrowing exceeds $500,000, the Administrator 
shall, prior to issuance of a note or other security pledging the credit 
of the Fund, secure the approval of the Secretary. No money may be 
borrowed from any of the Permittees or their affiliates.