An Unbiased View of 922 loans
An Unbiased View of 922 loans
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inserted necessity that the Secretary of Agriculture testify ahead of the Dwelling Committee on Agriculture as well as the Senate Committee on Agriculture and Forestry Every calendar year on or in advance of February 15th or other day specified with the Committees to offer justification intimately of the quantity requested from the budget to generally be appropriated for the subsequent fiscal yr.
We reserve the correct to seek all therapies at legislation As well as in equity for violations of those Stipulations, including the suitable to block entry to This website from a specific IP address.
The Secretary may not, to be a affliction of creating a phone financial loan to an applicant therefor, demand the applicant to—
(aa) the quantity (if any) by which the low cost the borrower acquired by motive of the prepayment exceeds the low cost the borrower would have received experienced the discount been according to the cost of money for the Division of the Treasury at time on the prepayment; and
" for "basis When the proceeds of your bonds or notes are used to make loans for almost any electrification or telephone objective eligible for guidance under this chapter, which include segment 904 or 922 of the title or to refinance bonds or notes issued for this kind of purposes.", and added par. (2).
Subparagraph (A)(i) shall not utilize for the proposed company territory of the challenge if a financial loan or personal loan ensure continues to be built underneath this segment into the applicant to supply broadband company while in the proposed services territory.
Extensions beneath this segment shall not be granted In the event the principal equilibrium extended exceeds the appraised worth of the generating plant or transmission line referred to in subsection paragraph (two).
(D) Leverage assist technologies and services from on line platforms for vendors of broadband company in rural spots.
(ii) allocate amounts during the reserve to more info each Point out for each fiscal calendar year for loans and bank loan guarantees to qualified entities within the Point out.
"(2) may well not call for any rural utility That may be a borrower of loans subject to portion 306A to produce unreasonable reductions in rates to its prospects like a situation of these kinds of prepayment."
"(A) notify the Administrator in creating, in 30 times once the issuance of rules to carry out this area, with the intent of the borrower to prepay; and
0 at conclude of The newest calendar year ending at least six months prior to approval of your bank loan, willpower of these kinds of ratio, and defining sum of distribution plant and general plant, gross profits, and value of electricity for prior provision for and ordinary gross revenue for each mile which is not less than $450 beneath the common gross income for every mile of REA-financed electrical units, in the case of electrical borrowers, or at least $300 below the standard gross revenue per mile of REA-financed phone techniques, in the case of telephone borrowers; and inserted in proviso of par. (2) "to the telephone or electric powered borrower" after "produce a financial loan".
When deciding to make the most of the payment support authority below paragraph (two) the Secretary shall contemplate whether or not the payment guidance will—
Particular rural development investments by qualified phone borrowers not handled as dividends or distributions.