About 922 loans
About 922 loans
Blog Article
The Secretary may make insured telephone loans with the acquisition, invest in, and set up of telephone traces, methods, and amenities (aside from buildings made use of principally for administrative reasons, autos not utilized generally in construction, and customer premise products) associated with the furnishing, advancement, or extension of rural telecommunications services, at an interest fee equivalent on the then current Value of cash to the Government of The usa for loans of similar maturity, but not in excess of 7 % every year, to any applicant for the personal loan who satisfies the following needs:
Loans created from or insured in the fund shall be for the same purposes and on precisely the same terms and conditions as are furnished for loans in subchapters I and II of the chapter other than as usually delivered in sections 933 to 938 inclusive.
The Secretary shall set up, by regulation, sufficient safeguards making sure that assistance below any rural growth software will not be issue to this kind of ailment.
(A) the difference between the fantastic principal harmony of your mortgage remaining refinanced as well as the existing value of the personal loan discounted at a fee equivalent on the then current cost of resources towards the Department from the Treasury for obligations of equivalent maturity on the loan being refinanced or prepaid;
inserted provisions prohibiting Administrator from offering support to telephone borrower Except if borrower exclusively applies therefor.
(4) The Secretary shall undertake all sensible attempts to permit the full number of deferments authorized by this subsection through Each individual fiscal yr.
In the case of your refinancing of a personal loan of the borrower pursuant to this portion as well as inclusion of the penalty within the superb principal equilibrium with the refinanced mortgage pursuant to subsection (b)(three)—
The fascination level over a financial loan refinanced below this portion shall be identified to generally be equivalent to the then present expense of cash to your Office of the Treasury for obligations of equivalent maturity into a phrase chosen by the borrower pursuant to paragraph (three), except that such price shall not be bigger than 7 p.c every year, subject matter to subsection (d).
inserted "and to the furnishing and improving of electric company to folks in rural locations, which include by assisting electric borrowers to employ demand from customers facet administration, Strength conservation systems, and on-grid and off-grid renewable Electrical power systems" following "central station provider".
§911. Acceptance of services of Federal or Condition officers; application of civil support guidelines; expenses for supplies and machines
Together with other authority under relevant legislation, the Secretary shall build prepared treatments for all broadband systems making sure that, to the maximum extent practicable, the systems are administered to—
(iv) The normal number of subscribers for every mile of line in the region included in the proposed personal loan is not really much more than 17.
A click here borrower that receives an extension underneath this section shall fork out a charge towards the Secretary which shall be credited to The agricultural Electrification and Telecommunications Loans Plan account. These types of charges shall continue being accessible with no fiscal calendar year limitation to pay the modification expenditures for extensions.
The Secretary shall establish a method, to be generally known as the "Group Join Grant System", to deliver grants to eligible entities to finance broadband transmission in rural places.