(1) rescind an insured phone loan made under this chapter with no consent of the borrower, Except the entire uses for which phone loans have been manufactured for the borrower below this chapter have already been attained with funds supplied under this chapter;
(ii) rising the remarkable principal balance in the bank loan progress certain from the Secretary that is becoming refinanced below this area by the quantity of the penalty.
"(b) Assertion of Coverage.—It is the coverage with the Congress that The agricultural Electrification Administration make loans that aid the development and improvement of The agricultural telecommunications infrastructure so that you can make modern telecommunications technology and providers available at sensible costs to the greatest practicable variety of persons in rural locations in the United States."
(A) the distinction between the outstanding principal stability on the financial loan being refinanced and also the present value of the mortgage discounted in a rate equal to the then present-day price of funds for the Office on the Treasury for obligations of similar maturity into the bank loan staying refinanced or prepaid;
From this kind of sums as are on occasion created obtainable via the Congress into the Secretary for this sort of reason, pursuant to section 903 of this title, the Secretary is authorized and empowered to make loans to folks now providing or who might hereafter deliver phone provider in rural spots, to general public bodies now delivering phone services in rural parts also to cooperative, nonprofit, minimal dividend, or mutual associations. Other than as or else provided by this subchapter, these kinds of loans shall be built beneath the identical stipulations as are offered in area 904 of the title, for the purpose of financing the improvement, enlargement, construction, acquisition, and Procedure of telephone lines, facilities, or programs to furnish and make improvements to phone assistance in rural places: Provided, having said that, That the Secretary, in creating this kind of loans, shall give preference to individuals furnishing telephone company in rural places, to community bodies now delivering telephone provider in rural regions, and also to cooperative, nonprofit, constrained dividend, or mutual associations.
Only persons who will be about the age of the greater part and who can form lawfully binding agreements could use This web site.
In an effort to execute the provisions of this chapter the Secretary could settle for and make use of these voluntary and uncompensated providers of Federal, Condition, and native officers and workers as are available, and he may perhaps appoint and take care of the compensation of Lawyers, engineers, and professionals and he may, matter into the civil-services legislation, appoint these types of other officers and workers as he may possibly obtain necessary and prescribe their duties.
amended section typically, inserting portion catchline and substituting present provisions for provisions regarding resources of Secretary, such as provisions for loans by Secretary with the Treasury, authorization of appropriations, allotment of resources for loans in States, loans of unallotted resources, and unexpended resources and limitation on use.
(three) the borrower certifies that any personal savings from this kind of prepayment might be passed on to its buyers or utilized to Increase the money power with the borrower in instances of economic hardship.
inserted just before time period at end "; plus the phrase 'Secretary' shall be deemed to signify the Secretary of Agriculture".
(one) The Secretary shall make get more info grants beneath this area determined by a dedication of Charge-effectiveness and the most effective use on the resources to achieve the reasons described in subsection (b).
The proceeds of guidance provided under this segment could possibly be accustomed to perform a job inside of a proposed company territory provided that, as of your day the appliance for guidance underneath this part is submitted, You can find not suitable Center mile infrastructure available to help broadband provider for eligible rural communities that will be supplied usage of the center mile infrastructure.
The Secretary shall make insured electric powered loans, into the extent of qualifying apps with the loans, at an fascination fee of five p.c every year to any applicant for your financial loan who fulfills Each and every of the following prerequisites:
(one) in coordination with Condition rural development initiatives, make grants and loans to individuals, States, political subdivisions of States, and various entities organized under the legal guidelines of States to amass, build, extend, improve, and normally make improvements to Power generation, transmission, or distribution facilities serving communities during which the normal household expenditure for property Electrical power is at least 275 percent of the national average household expenditure for dwelling energy (as based on the Electrical power Information and facts Company working with The latest details obtainable);