The Basic Principles Of 922 loans
The Basic Principles Of 922 loans
Blog Article
The Secretary, in consultation with regional governments and Federal businesses, may well put into practice an initiative to identify and boost The supply of qualified systems in communities in significantly underserved trust areas.
The Secretary in making this kind of loans shall, insofar as you can, get assurance that the telephone support to become furnished or improved therefore will probably be built available to the widest practical amount of rural consumers. When it is decided with the Secretary to be needed as a way to furnish or make improvements to telephone provider in rural areas, these loans might be designed for the advance, expansion, building, acquisition, and operation of phone strains, amenities, or techniques without the need of regard to their geographical place. The Secretary is even more licensed and empowered to make loans for the purpose of refinancing excellent indebtedness of persons furnishing telephone support in rural areas, like indebtedness of recipients on An additional telecommunications mortgage manufactured underneath this chapter. Loans less than this part shall not be manufactured Until the Secretary finds and certifies that in his judgment the safety therefor in all fairness ample and these types of personal loan will probably be repaid within the time agreed and that no duplication of traces, services, or programs, delivering moderately sufficient companies will end result therefrom.
" in second sentence and "and that no duplication" for ", nor shall this sort of mortgage be produced in almost any Condition which now has or could hereafter have a State regulatory body possessing authority to manage telephone company and also to demand certificates of ease and requirement on the applicant Unless of course these types of certificate from this kind of company is first received. Inside a Point out during which there is absolutely no this kind of company or regulatory body legally approved to issue these certificates towards the applicant, no financial loan shall be made beneath this section Except if the Secretary shall identify (and established forth his reasons therefor in creating) that no duplication" in very last sentence.
§936. Certain loans; lodging and subordination of liens; fascination premiums; here assignability of confirmed loans and similar guarantees
§926. Specific rural development investments by experienced phone borrowers not dealt with as dividends or distributions
Subparagraph (A)(i) shall not utilize on the proposed company territory of the task if a loan or bank loan assurance has actually been made underneath this part for the applicant to offer broadband provider within the proposed services territory.
In the situation with the refinancing of a financial loan of a borrower pursuant to this section as well as inclusion of a penalty in the superb principal stability of the refinanced financial loan pursuant to subsection (b)(3)—
(i) give the very best precedence to apps for jobs to provide broadband services to unserved rural communities that don't have any residential broadband provider of not less than—
A borrower which includes pay as you go an insured or direct bank loan shall continue to be qualified for help below this chapter in the identical manner as other borrowers, except that—
"(two) may not need any rural utility that is a borrower of loans subject to portion 306A to make unreasonable reductions in fees to its prospects for a affliction of these kinds of prepayment."
struck out at finish "On or right before February 15, of each and every calendar yr commencing with calendar year 1976, or these other date as could possibly be specified by the appropriate committee, the Secretary of Agriculture shall testify prior to the Dwelling Committee on Agriculture as well as the Senate Committee on Agriculture, Nourishment, and Forestry and provide justification in detail of the amount asked for in the funds to be appropriated for the following fiscal calendar year for the purpose of administering this chapter and for the purpose of generating the studies, investigations, publications, and reviews herein approved."
(ii) in the situation of a confirmed financial loan, The present applicable market amount for the mortgage of equivalent maturity; and
The Secretary shall create a system for being referred to as the "Revolutionary Broadband Progression Method", below which the Secretary may give a grant, a bank loan, or each to an suitable entity for the purpose of demonstrating innovative broadband systems or ways of broadband deployment that drastically reduce the expense of broadband deployment, and provide considerably quicker broadband speeds than can be obtained, within a rural space.
(iii) The plan must persuade and increase Pc networks and knowledge highways for subscribers in rural locations.