Energy Saving Debenture Law and Legal Definition
According to 15 USCS § 662 (18), [Title 15. Commerce and Trade; Chapter 14B. Small Business Investment Program; General Provisions] the term energy saving debenture means “a deferred interest debenture that--
(A) is issued at a discount;
(B) has a 5-year maturity or a 10-year maturity;
(C) requires no interest payment or annual charge for the first 5 years;
(D) is restricted to Energy Saving qualified investments; and
(E) is issued at no cost (as defined in section 502 of the [Federal] Credit Reform Act of 1990 [2 USCS § 661a]) with respect to purchasing and guaranteeing the debenture.”
