As well as the personal loan extension authority presented in segment 912 of this title, the Secretary of Agriculture is licensed to adjust and readjust the schedules for payment of principal and desire on loans to borrowers less than programs administered via the Secretary under the Rural Electrification Act of 1936 (7 U.
(ii) submit on the Secretary an application at these time, in this sort of fashion, and that contains these kinds of facts since the Secretary may perhaps need; and
"(b) Assertion of Coverage.—It is the plan from the Congress that The agricultural Electrification Administration make loans that facilitate the event and enhancement of The agricultural telecommunications infrastructure so as to make present day telecommunications technological know-how and products and services readily available at realistic costs to the best practicable quantity of people in rural parts in the United States."
The Secretary may well not come up with a payment help bank loan underneath paragraph (two)(B) to an entity acquiring a grant less than this part that's also the recipient of a bank loan underneath subchapter I or II that may be connected to such grant.
" for "basis if the proceeds on the bonds or notes are utilized to make loans for just about any electrification or phone goal suitable for assistance underneath this chapter, which includes part 904 or 922 of the title or to refinance bonds or notes issued for this sort of applications.", and additional par. (2).
inserted provisions associated with loans made by Federal Funding Bank with regard to assures issued underneath this segment, and substituted "an insured personal loan" for "a financial loan insured on the standard fee".
(1) Topic to limitations established in appropriations Functions, the Secretary shall allow any borrower to defer the payment of principal and curiosity on any insured or direct mortgage produced under this chapter less than instances explained With this subsection, notwithstanding any limitation contained in subsection (a), other than that this sort of deferment shall not be permitted determined by the dedication from the Secretary of your fiscal hardship in the borrower.
(D) Leverage aid systems and companies from on click here the web platforms for companies of broadband services in rural areas.
Confirmed loans; accommodation and subordination of liens; fascination costs; assignability of guaranteed loans and related ensures.
(A) evidence satisfactory towards the Secretary that a Federal or Condition company with jurisdiction and know-how has produced an official dedication, for example via a licensing continuing, extending the practical lifetime of a generating plant or transmission line pledged as collateral to or past the new last maturity date getting requested through the borrower, or
substituted "of which the holder experienced precise knowledge at the time it became a holder" for "of which the holder has real information".
In pinpointing the amount of, and way of stability utilized to secure, a mortgage or bank loan warranty under this segment, the Secretary shall look at reducing the safety inside a rural location that does not have broadband support.
Pub. L. one hundred fifteen–334, § 6211, substituted “furnishing phone service in rural places, together with indebtedness of recipients on An additional telecommunications bank loan built under this chapter.” for “furnishing telephone support in rural parts: Provided, That this kind of refinancing shall be determined by the Secretary to get important in order to furnish and boost telephone support in rural regions: And furnished further more, That such refinancing shall represent not much more than forty for every centum of any financial loan designed underneath this subchapter.”
(b) The Secretary of your Treasury is licensed and directed to acquire for resale obligations insured from the fund when supplied by the Secretary. These kinds of resales shall be upon this kind of terms and conditions as the Secretary of your Treasury shall identify.