A bill to provide needed facilities and services not otherwise available for the accommodation of visitors in the areas administered by the National Park Service by authorizing the Secretary of the Interior to guarantee loans which are part of concessioner investments in such facilities and services.

Summary

Asserts as the purpose of this Act the provision of needed facilities and services not otherwise available for the accomodation of visitors in the areas administered by the National Park Service. Authorizes the Secretary of the Interior to guarantee loans for improvements by National Park Service concessioners who will bear at least 10% of the cost of improvements. Limits the aggregate amount of outstanding guaranteed loans to $25,000,000. Requires that loans will be guaranteed unless without it the concessioner could not obtain funds; the improvement is economically sound; and the improvement is appropriate for public use and enjoyment of the area. Creates the National Park Service Guarantee Fund for the purpose of carrying out the Act. Sets forth provisions regarding defaults on the loans. Bars termination or revocation of the guarantee except in certain circumstances.

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1 official file

• Introduced in Senate

  summary · EN · 14 March 1973

  Open at official source

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