Getting My 922 loans To Work
Getting My 922 loans To Work
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"(two) cannot, in accordance with frequently approved management and accounting ideas and without the need of charging premiums to its consumers or subscribers so higher as to generate a substantial disparity involving these kinds of rates plus the charges charged for comparable support in precisely the same or close by places by other suppliers, give services in step with the objectives of this chapter."
(1) A borrower will likely not qualify for prepayment beneath this segment if, during the belief with the Secretary of your Treasury, to prepay in these borrower's case would adversely have an affect on the operation of the Federal Financing Bank.
An eligible entity that gets a grant beneath This system shall make use of the grant to carry out a challenge that—
The Secretary may perhaps need an entity to supply a cost share in an quantity to not exceed ten p.c of the amount of the grant, financial loan, or loan ensure requested in the application on the entity, Until the Secretary determines that the next percentage is required for financial feasibility.
If, not afterwards than one calendar year after final laws are promulgated to carry out this paragraph, any Point out, either by statute or from the community utility commission from the Point out, develops a telecommunications modernization approach that satisfies the requirements of subparagraph (B), the Secretary shall approve the plan for that Condition.
(A) eligibility criteria to ensure that any financial loan prepayment exercise necessary to be performed beneath this subsection will be directed to People cooperative borrowers in finest want of the advantages associated with prepayment, as determined by the Secretary; and
The price reduction rate to generally be set via the Secretary for direct or insured loans prepayments hereunder shall be dependant on the current price of resources towards the Section from the Treasury for obligations of similar maturity to All those becoming prepaid. If a borrower prepays applying tax exempt financing, the price reduction shall be modified to make the price cut equivalent to absolutely taxable funding. The borrower shall certify in composing whether the financing might be tax exempt and shall adjust to these types of other terms and conditions as the Secretary could create which are affordable and required to employ this provision. As applied During this portion, the time period "immediate financial loan" suggests a financial loan designed beneath section 904 of the title.
If a borrower satisfies the penalty requirements of paragraph (1) by increasing the superb principal balance on the loan progress that's staying refinanced, the borrower shall generate a payment at time with the refinancing equal to 922 loans 2.
The Secretary shall review the bonding demands for all packages administered by The agricultural Utilities Services underneath this chapter to ensure that bonds are not required if—
§6211, substituted "furnishing telephone company in rural locations, like indebtedness of recipients on A further telecommunications mortgage designed beneath this chapter." for "furnishing telephone support in rural locations: Furnished, That this kind of refinancing shall be determined by the Secretary to become necessary to be able to furnish and strengthen telephone services in rural spots: And supplied additional, That these refinancing shall constitute not much more than 40 for every centum of any mortgage manufactured less than this subchapter."
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"(A) contemplate whether or not the recipient is or could well be serving an area that is unserved or has assistance amounts below the least satisfactory degree of broadband assistance set up less than subsection (e); and
The Secretary may possibly make or warranty loans below this subchapter and subchapter I for cybersecurity and grid safety enhancements.
(seven) the general progress toward fulfilling the intention of strengthening the quality of rural lifetime by expanding rural broadband entry, as demonstrated by metrics, which includes—