§185. Project servicing

(a) Requirement.-The State in which a project that receives financial assistance under this subchapter is located may identify a local servicer to assist the Secretary in servicing the Federal credit instrument made available under this subchapter.

(b) Agency; Fees.-If a State identifies a local servicer under subsection (a), the local servicer-

(1) shall act as the agent for the Secretary; and

(2) may receive a servicing fee, subject to approval by the Secretary.

(c) Liability.-A local servicer identified under subsection (a) shall not be liable for the obligations of the obligor to the Secretary or any lender.

(d) Assistance From Expert Firms.-The Secretary may retain the services of expert firms in the field of municipal and project finance to assist in the underwriting and servicing of Federal credit instruments.

(Added Pub. L. 105–178, title I, §1503(a), June 9, 1998, 112 Stat. 249 .)

Section Referred to in Other Sections

This section is referred to in section 182 of this title.