New Step by Step Map For 922 loans

(4) shall only make loans or mortgage assures which can be discovered to become fiscally possible Which offer eligible method Gains to considerably underserved have confidence in spots.

(ii) has the authorized capacity and authority to enter right into a deal, to adjust to applicable Federal laws, and also to possess and work broadband amenities, as proposed in the applying submitted with the entity for just a grant less than This system.

(ii) Should the applicant is eligible to get a mortgage, create a loan into the applicant underneath this paragraph in an total equivalent to the amount that bears precisely the same ratio to the total volume of loans for which the applicant is eligible under this paragraph, as the quantity created available for loans less than this paragraph for that fiscal yr bears to the entire amount of money produced obtainable for loans beneath this paragraph for that fiscal 12 months.

(ii) in periodic installments of desire and, at the end of the expression from the bond or Observe, as relevant, from the repayment on the superb principal; or

A borrower might not training the option underneath paragraph (1) in the case of a bank loan or mortgage progress, or part thereof, if the entire amount of these types of loans for which these kinds of selection could be exercised exceeds fifty % on the excellent principal harmony of your loans built to this sort of borrower and guaranteed beneath section 936 of the title.

(v) The plan ought to deliver for uniform deployment schedules to make certain State-of-the-art solutions are deployed at the same time in rural and nonrural locations.

(i) The common revenue for each kilowatt-hour offered through the applicant is not a lot less than one hundred twenty percent of the normal revenue for every kilowatt-hour offered by all utilities in the Condition in which the applicant delivers support.

Every year, the Secretary shall submit towards the Congress a report that describes the extent of participation during the broadband help plans administered through the Secretary for the preceding fiscal 12 months, such as an outline of—

Licensed economic transactions; interim notes; order of obligations for resale; sale of notes and certificates; liens.

If a Point out isn't going to build a plan in accordance with the necessities in the preceding sentence, the Secretary shall approve any telecommunications modernization system to the Point out that fulfills the requirements that may be designed by a bulk of the borrowers of phone loans built beneath this subchapter who can be found within the Point out.

included segment catchline and text and struck out previous textual content which examine as follows: "There's hereby designed and proven an agency of The usa being often called the 'Rural Electrification Administration', the entire powers of which shall be exercised by an Administrator, who shall be appointed from the President, by and with the recommendation and consent of the Senate, to get a time period of 10 several years, and who shall receive a income of $ten,000 each year. This chapter may be cited as being the 'Rural Electrification Act of 1936'."

All proceeds through the repayment of these loans produced underneath this section shall be returned for the subaccount the Secretary shall keep in accordance with sections 940c(b)(two) and 940c–2(file) of this title.

§ 926. Specific rural growth investments by experienced telephone borrowers not handled as dividends or distributions

(three) be the result in, specifically or indirectly, 922 loans of imposing any prerequisite or restriction on the borrower being a issue of the help, apart from these kinds of prerequisites or limits as are essential to apply a credit card debt restructuring agreed on by the power offer borrower and The federal government.