About 922 loans
About 922 loans
Blog Article
(a) The Secretary is licensed to produce and problem interim notes on the Secretary with the Treasury for the objective of obtaining resources needed for discharging obligations from the fund and for making loans, developments and approved expenditures out from the fund. These notes shall be in these kinds of variety and denominations and also have these kinds of maturities and become topic to this kind of conditions and terms as may be agreed upon via the Secretary along with the Secretary of the Treasury. These notes shall bear interest at a level fixed by the Secretary in the Treasury, using into consideration The present regular market yield of outstanding marketable obligations of America having maturities akin to the notes issued through the Secretary beneath this segment. The Secretary on the Treasury is authorized and directed to get any notes from the Secretary issued hereunder, and, for that reason, the Secretary on the Treasury is licensed to implement as a general public credit card debt transaction the proceeds in the sale of any securities issued below chapter 31 of title 31, as well as purposes for which these securities might be issued below these types of chapter are extended to incorporate the purchase of notes issued via the Secretary.
(bb) the average for every capita revenue from the citizens receiving electric powered company from the applicant is under the common per capita profits of your residents on the Point out through which the applicant provides assistance, or perhaps the median house earnings on the households acquiring electrical provider in the applicant is under the median household money from the households during the Point out.
(i) permits one software to get a grant plus a personal loan below subchapter I, II, or this subchapter that may be related to these grant; and
inserted ", to community bodies now furnishing phone provider in rural spots" following "parts" in very first sentence and immediately after "locations" in 1st proviso of next sentence.
These kinds of merchandise could be paid in connection with assured loans soon after or in reference to the acquisition of these kinds of loans or safety thereof after default, to the extent decided to become needed to guard read more the desire of The federal government, or in reference to another exercise licensed With this chapter;
§two(a), amended subsec. (a) normally. Ahead of Modification, subsec. (a) read as follows: "A direct or insured personal loan created less than this chapter shall not be sold or prepaid at a worth fewer than the face price of any exceptional principal harmony on these loan, other than when marketed to or pay as you go through the borrower within the lesser in the excellent principal harmony thanks around the bank loan or perhaps the personal loan's existing value discounted from your deal with value at maturity at the rate established through the Administrator.
The Secretary might waive the need of subparagraph (A)(ii) in any case wherein the Secretary decides (and sets forth The explanations to the waiver in crafting) that the prerequisite would avoid crisis restoration of the telephone procedure on the applicant or lead to serious hardship on the applicant.
, That for a period of 1 year from and just after Oct 28, 1949, programs for loans received via the Secretary from people who on October 28, 1949, are engaged during the operation of present telephone services in rural spots shall be viewed as and acted upon before motion is taken on any application received from almost every other individual for almost any loan to finance the furnishing or advancement of telephone service to considerably the identical subscribers." in next sentence and "and that no duplication" for ", nor shall these types of bank loan be made in any State which now has or may well hereafter Have got a Point out regulatory human body having authority to manage phone service and to have to have certificates of convenience and necessity to your applicant unless these kinds of certification from this kind of agency is initially received.
A borrower that has prepaid an insured or immediate loan shall continue to be eligible for support under this chapter in the identical manner as other borrowers, except that—
If a Point out isn't going to build a plan in accordance with the necessities from the previous sentence, the Secretary shall approve any telecommunications modernization program with the Point out that satisfies the requirements that is made by a greater part from the borrowers of phone loans made underneath this subchapter who can be found while in the Point out.
(B) a certificate from an impartial certified engineer concluding, on the basis of an intensive engineering Evaluation satisfactory for the Secretary, the beneficial life of the building plant or transmission line pledged as collateral extends to or outside of the new remaining maturity date becoming asked for because of the borrower.
In identifying the level of, and method of safety utilized to protected, a mortgage or bank loan guarantee less than this segment, the Secretary shall take into account lessening the safety inside of a rural region that does not have broadband provider.
(one) in evaluating the feasibility of a phone loan to get produced into a borrower for phone solutions, use—
§918a. Power technology, transmission, and distribution services efficiency grants and loans in rural communities with extremely superior Electricity fees