About 922 loans
About 922 loans
Blog Article
In combination with the mortgage extension authority presented in section 912 of the title, the Secretary of Agriculture is approved to regulate and readjust the schedules for payment of principal and interest on loans to borrowers beneath systems administered via the Secretary underneath the Rural Electrification Act of 1936 (7 U.
(A) with regard to items for which the regulatory authority with jurisdiction about the provision of such providers has authorized the depreciation premiums utilized by the borrower, this sort of authorized rates; and
(four) any outreach activities carried out from the Secretary to motivate entities in rural areas with out broadband service to post apps beneath this chapter;
inserted ", to general public bodies now supplying telephone company in rural places" just after "places" in initially sentence and following "parts" in first proviso of second sentence.
" for "foundation In case the proceeds in the bonds or notes are utilized to make loans for just about any electrification or phone objective qualified for assistance underneath this chapter, which includes portion 904 or 922 of this title or to refinance bonds or notes issued for these kinds of purposes.", and additional par. (2).
(4) The Secretary shall undertake all realistic initiatives to allow the complete degree of deferments authorized by this subsection in the course of each fiscal yr.
As a way to carry out the provisions of the chapter the Secretary might settle for and use such voluntary and uncompensated products and services of Federal, State, and local officers and staff members as are available, and he could appoint and take care of the compensation of attorneys, engineers, and authorities and he may perhaps, subject on the civil-company regulations, appoint these kinds of other officers and workforce as he may locate needed and prescribe their responsibilities.
(i) a borrower which includes pay as you go a mortgage, either just before or immediately after Oct 21, 1992, at a reduction level as furnished by paragraph (three), shall not be suitable, besides within the discretion of the Secretary, to apply for or receive immediate or insured loans beneath this chapter through the one hundred twenty-month period beginning on the day with the prepayment; and
(D) At the time of a deferment, the borrower shall produce a payment to your cushion of credit history account set up and taken care of pursuant to area 940c of this title in an volume equal to the quantity of the payment deferred. The balance of this sort of account shall not be reduced through the borrower under the level on the unpaid harmony with the payment deferred.
The Secretary shall create processes for the selection as well as provision of complex companies by consultants making sure that the consultants don't have any financial or other conflicts of fascination in the outcome of the applying on the borrower.
(i) The standard amount of subscribers for each mile of line inside the services area of the applicant is not really greater than 15, or maybe the applicant is capable of manufacturing net revenue or margins before desire of not a lot less than 100% (although not much more than 500 p.c) with the curiosity requirements on check here most of the exceptional and proposed loans from the applicant.
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Almost nothing In this particular segment restrictions the authority on the Secretary to determine stipulations with regard towards the use by borrowers of your proceeds of loans created or confirmed below this chapter or to acquire every other motion specifically approved by legislation.
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