33 U.S.C. § 2220 : US Code - Section 2220: Rivers and harbors and other waterways projects for benefit of navigation, flood control, hurricane protection, beach erosion control, and other purposes

Search 33 U.S.C. § 2220 : US Code - Section 2220: Rivers and harbors and other waterways projects for benefit of navigation, flood control, hurricane protection, beach erosion control, and other purposes

(a) Congressional declaration of policy; purchase of indebtedness
and loans to local interests to meet contribution requirements
In the prosecution of projects for rivers and harbors and other
waterways for the benefit of navigation, the control of destructive
flood waters, hurricane protection, beach erosion control, and for
other purposes, authorized to be prosecuted under the direction of
the Secretary of the Army under the supervision of the Chief of
Engineers in accordance with plans adopted and authorized by the
Congress, it is hereby declared to be the policy of the Congress,
that whenever such projects are located wholly or partially within
an area which is eligible for financial assistance under the Public
Works and Economic Development Act of 1965 [42 U.S.C. 3121 et
seq.], the Secretary of Commerce is authorized to purchase
evidences of indebtedness and to make loans for a period not
exceeding fifty years to enable responsible local interests to meet
the requirements of local cooperation pertaining to contributions
toward the cost of construction of such projects within such areas.
(b) Authorization of appropriations
There is hereby authorized to be appropriated to carry out this
section, not to exceed $10,000,000 per fiscal year for the fiscal
year ending June 30, 1966, and for each fiscal year thereafter
through and including the fiscal year ending June 30, 1970.