The 922 loans Diaries
The 922 loans Diaries
Blog Article
For the objective of administering this chapter and for the goal of generating the reports, investigations, publications, and reports herein delivered for, There exists authorized to become appropriated, away from any income during the Treasury not normally appropriated, such sums as shall be important.
The Secretary in generating this kind of loans shall, insofar as possible, attain assurance that the telephone service to generally be furnished or improved therefore will likely be made available to the widest useful quantity of rural users. When it is decided through the Secretary to become important so that you can furnish or boost phone service in rural regions, this kind of loans can be produced for the development, enlargement, construction, acquisition, and operation of phone strains, facilities, or techniques without the need of regard for their geographical place. The Secretary is even further licensed and empowered to create loans for the purpose of refinancing superb indebtedness of persons furnishing phone service in rural parts, including indebtedness of recipients on Yet another telecommunications bank loan designed less than this chapter. Loans less than this section shall not be produced Except the Secretary finds and certifies that in his judgment the security therefor is reasonably sufficient and these types of mortgage will likely be repaid in the time agreed and that no duplication of strains, services, or techniques, delivering fairly satisfactory providers will outcome therefrom.
A penalty shall be assessed from a borrower that refinances or prepays a loan or personal loan progress, or any percentage of a bank loan or progress, under this part. Apart from as supplied in paragraph (two), the penalty shall be equal on the lesser of—
(i) be performed inside of a proposed service territory in which not less than ninety per cent in the homes are unserved; and
If, not later on than 1 year after closing laws are promulgated to execute this paragraph, any Point out, both by statute or from the general public utility commission of the Condition, develops a telecommunications modernization strategy that fulfills the requirements of subparagraph (B), the Secretary shall approve the plan for your Point out.
S.C. 901 et seq.] to finance the acquisition of present era, transmission and distribution units and amenities serving high Price, predominantly rural places by entities capable of and focused on offering or strengthening provider in these parts in an effective and cost-effective manner.
These Stipulations govern your utilization of This page and all applications, software and solutions (collectively, "Providers") available on This web site, other than for the extent this sort of Providers are the subject of the independent settlement.
Any agreement of insurance policies or assure executed via the Secretary beneath this subchapter shall be an obligation supported by the total religion and credit rating of the United States and incontestable apart from fraud or misrepresentation of which the holder experienced real knowledge at time it became a holder.
The time period "incumbent company service provider", with regard to an application submitted below this segment, indicates an entity that, as of your date of submission of the appliance, is supplying broadband support to not below five % with the households during the provider territory proposed in the applying.
Other than as supplied in clause (ii), subparagraph (A)(ii) shall not utilize to an incumbent support service provider inside the percentage of a proposed provider territory by which the company is upgrading broadband service to satisfy the minimum amount satisfactory standard of broadband services proven less than subsection (e) for the existing territory from the incumbent assistance company.
Together with other authority below relevant law, the Secretary shall create penned methods for all broadband packages to ensure, to the maximum extent practicable, the courses are administered to—
0 at finish of The newest calendar year ending not less than six months in advance of approval in the personal loan, dedication of these ratio, and defining sum of distribution plant and common plant, gross income, and cost of power for prior provision for and ordinary gross revenue for each mile that is no less than $450 below the common gross profits for each mile of REA-financed electric powered units, in the case of electric borrowers, or a minimum of $300 under the common gross profits for each mile of REA-financed telephone programs, in the case of telephone borrowers; and inserted in proviso of par. (2) "to some telephone or electric borrower" following "create a mortgage".
Clause (i) shall not implement if the applicant is eligible for funding beneath A different subchapter of the chapter.
(5) offer info to electric and phone borrowers beneath this chapter in regards to the eligibility of this kind of borrowers to submit an application for economic help, loans, or grants more info from other Federal agencies and non-Federal resources to permit these borrowers to develop their rural progress efforts; and