922 loans No Further a Mystery
922 loans No Further a Mystery
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As well as the personal loan extension authority provided in area 912 of the title, the Secretary of Agriculture is approved to regulate and readjust the schedules for payment of principal and curiosity on loans to borrowers underneath applications administered through the Secretary beneath the Rural Electrification Act of 1936 (seven U.
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In the event the Secretary as well as the Federal Funding Lender approve this sort of an extension, then the duration of the existing assurance shall also be considered extended.
To generally be suitable for just a grant beneath this segment, Along with the necessities of subsection (d), the venture that's the topic with the grant shall—
If, not later than 1 calendar year just after final rules are promulgated to carry out this paragraph, any Point out, both by statute or with the community utility Fee in the State, develops a telecommunications modernization system that satisfies the necessities of subparagraph (B), the Secretary shall approve the system for the Point out.
(II) the payment amounts that could be essential throughout the interval about the quantities becoming refinanced or prepaid Should the fascination fee on the financial loan were equivalent towards the then latest cost of funds into the Office from the Treasury for obligations of equivalent maturity towards the mortgage being refinanced or pay as you go.
struck out "along with the Governor of the phone bank" after "The Secretary" in introductory provisions.
On a yearly basis, the Secretary shall submit towards the Congress a report that describes the extent of participation while in the broadband aid packages website administered with the Secretary for the preceding fiscal calendar year, including an outline of—
The Secretary of Agriculture (referred to Within this chapter as the "Secretary") is licensed and empowered for making loans, or refinance loans manufactured or assured from the Secretary less than this chapter, from the many States and Territories of The usa for rural electrification and for the purpose of furnishing and bettering electric powered and telephone company in rural areas, as provided With this chapter, and for the goal of helping electrical borrowers to put into action demand side management, Vitality effectiveness and conservation systems, and on-grid and off-grid renewable Electrical power techniques.
§6211, substituted "furnishing telephone provider in rural areas, like indebtedness of recipients on An additional telecommunications financial loan made beneath this chapter." for "furnishing phone service in rural places: Furnished, That this kind of refinancing shall be based on the Secretary to be required in order to furnish and enhance telephone provider in rural parts: And provided more, That these kinds of refinancing shall represent not much more than forty for every centum of any personal loan built below this subchapter."
No borrower of funds less than sections 904 or 922 of this title shall, without the acceptance on the Secretary, market or get rid of its property, legal rights, or franchises, acquired beneath the provisions of this chapter, right up until any financial loan attained from the Rural Electrification Administration, including all fascination and fees, shall have been repaid.
All proceeds with the repayment of these loans produced below this segment shall be returned to your subaccount which the Secretary shall preserve in accordance with sections 940c(b)(2) and 940c–two(file) of the title.
Pub. L. a hundred and fifteen–334, § 6211, substituted “furnishing telephone service in rural parts, such as indebtedness of recipients on An additional telecommunications bank loan created below this chapter.” for “furnishing phone services in rural parts: Supplied, That these types of refinancing shall be determined by the Secretary for being vital as a way to furnish and make improvements to telephone services in rural regions: And delivered additional, That these kinds of refinancing shall represent not much more than forty for every centum of any loan produced beneath this subchapter.”
A bond or Notice assured under this portion shall, by arrangement among the Secretary as well as the borrower—