Detailed Notes on 922 loans
Detailed Notes on 922 loans
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(D) the estimated amount and proportion of service points in the proposed assistance territory without the need of fixed broadband services, no matter whether terrestrial or wireless;
(i) establish a national reserve for loans and mortgage guarantees to suitable entities in States less than this section; and
Besides as presented normally With this chapter, the expression "rural place" suggests the farm and nonfarm inhabitants of—
The Secretary of Agriculture is authorized to invest in these money and credit score stories as could be needed to execute the Secretary's licensed do the job: Furnished, That buys beneath this authority shall not be built Except if provision is designed therefor inside the applicable appropriation and the fee thereof is not in extra of restrictions prescribed therein.
S.C. 901 et seq.], Which these rural electric powered and phone systems needs to be encouraged and assisted to build their assets and ability to realize the fiscal energy necessary to empower them to satisfy their credit requirements from their own individual economical organizations and other sources at realistic charges and conditions according to the loan applicant's ability to pay and accomplishment with the Act's goals.
Only persons who will be over the age of vast majority and who will kind legally binding agreements may use This great site.
Not afterwards than 1 yr following the date of enactment of this part and annually thereafter, the Secretary shall submit to Congress a report that describes—
, That for just a duration of one particular yr from and right after October 28, 1949, apps for loans acquired through the Secretary from persons who on Oct 28, 1949, are engaged inside the Procedure of present telephone service in rural spots shall be viewed as and acted upon before motion is taken upon any software obtained from another man or woman for just about any personal loan to finance the furnishing or enhancement of phone support to significantly the exact same subscribers." in second sentence and "and that no duplication" for ", nor shall this kind of bank loan be produced in any Point out which now has or could hereafter Have got a State regulatory system possessing authority to manage telephone assistance also to involve certificates of benefit and requirement towards the applicant Until this kind of certification from these types of agency is to start with received.
From such sums as are from time to time manufactured accessible because of the Congress towards the Secretary for these types of goal, pursuant to portion 903 of the title, the Secretary is authorized and empowered to create loans to people now giving or who may hereafter offer telephone support in rural regions, to public bodies now providing telephone company in rural locations and also to cooperative, nonprofit, minimal dividend, or mutual associations. Apart from as or else supplied by this subchapter, these loans shall be built underneath the same terms and conditions as are offered in area 904 of this title, for the objective of financing the improvement, expansion, construction, acquisition, and operation of phone strains, amenities, or systems to furnish and make improvements to phone company in rural locations: Supplied, even so, The Secretary, in producing this sort of loans, shall give desire to people giving telephone company in rural areas, to general public bodies now giving telephone provider in rural locations, and to cooperative, nonprofit, confined dividend, or mutual associations.
(A) evidence satisfactory to your Secretary that a Federal or Point out agency with jurisdiction and skills has made an official willpower, such as via a licensing proceeding, extending the beneficial life of a creating plant or transmission line pledged as collateral to or over and above the new closing maturity date getting asked for because of the borrower, or
The Secretary shall ensure that the type and volume of, and means of stability used to secure, any bank loan or bank loan ensure underneath this portion is commensurate to the danger associated with the financial loan or financial loan warranty, particularly in any case by which the mortgage or mortgage assure is issued to some click here financially strong and steady entity, as determined by the Secretary.
(one) pinpointing each completed software for just a phone financial loan underneath part 935 of this title or even a warranty of a phone loan below segment 936 of this title which has not been ultimately acted upon in ninety days after the day the completed software is submitted; and
The Secretary may possibly make or warranty loans less than this subchapter and subchapter I for cybersecurity and grid security improvements.
(3) be the result in, instantly or indirectly, of imposing any requirement or restriction about the borrower to be a problem with the aid, except this sort of necessities or limits as are necessary to put into action a credit card debt restructuring agreed on by the facility supply borrower and the Government.