About 922 loans
About 922 loans
Blog Article
The Secretary, in session with regional governments and Federal agencies, might implement an initiative to establish and improve The supply of suitable systems in communities in significantly underserved have confidence in spots.
The Secretary in making such loans shall, insofar as feasible, acquire assurance that the telephone services to get furnished or enhanced therefore will probably be made accessible to the widest sensible amount of rural consumers. When it is decided with the Secretary to become important as a way to furnish or make improvements to telephone provider in rural locations, these loans could be manufactured for the improvement, expansion, development, acquisition, and Procedure of telephone lines, services, or systems with no regard for their geographical locale. The Secretary is more approved and empowered to help make loans for the purpose of refinancing fantastic indebtedness of folks furnishing phone service in rural places, which include indebtedness of recipients on A further telecommunications mortgage manufactured underneath this chapter. Loans less than this portion shall not be produced Unless of course the Secretary finds and certifies that in his judgment the security therefor is fairly ample and these financial loan are going to be repaid throughout the time agreed Which no duplication of lines, facilities, or methods, offering reasonably sufficient providers will outcome therefrom.
§6104, amended part typically. Just before Modification, text read as follows: "As made use of During this chapter the expression 'rural location', other than as provided in section 924(b) of this title, shall be considered to imply any location of The usa not bundled throughout the boundaries of any city area, as described because of the Bureau from the Census, and this sort of expression shall be deemed to incorporate each the farm and nonfarm populace thereof; the phrase 'farm' shall be considered to mean a farm as defined within the publications of your Bureau of your Census; the expression 'particular person' shall be deemed to suggest any organic particular person, agency, corporation, or association; the expression 'Territory' shall be considered to incorporate any insular possession of The usa; and the phrase 'Secretary' shall be deemed to mean the Secretary of Agriculture."
The applicant might not find a term that ends much more than 35 many years immediately after the start of the very first time period the applicant selects under clause (i).
Being a affliction of receiving guidance underneath area 950bb of this title, a recipient of assistance shall provide to the Secretary complete, reliable, and specific geolocation details that signifies The situation of latest broadband support which is becoming provided or upgraded in the support territory supported from the grant, personal loan, or financial loan ensure not afterwards than 30 times soon after the sooner of—
Subparagraph (A)(i) shall not utilize to your proposed provider territory of a job if a bank loan or loan warranty has become made underneath this segment into the applicant to supply broadband service while in the proposed support territory.
(i) The normal profits for each kilowatt-hour bought via the applicant will not be a lot less than a hundred and twenty % of the average profits per kilowatt-hour offered by all utilities in the Condition in which the applicant supplies support.
In identifying the conditions and terms of assistance presented under this subchapter, the Secretary might create a deferral duration of not shorter compared to buildout interval established for your undertaking involved with buy to guidance the financial feasibility and lengthy-phrase sustainability on the task.
The Secretary shall demand any entity obtaining aid less than area 950bb–one of this title to submit a semiannual report for 5 years right after completion with the challenge, in a format specified with the Secretary, that describes—
(B) reviewing every other source which is pertinent to support info validation, as determined by the Secretary; and
"(A) notify the Administrator in crafting, within thirty times following the issuance of restrictions to carry out this area, on the intent on the borrower to prepay; and
The click here fascination amount explained During this subparagraph with a loan to an applicant for the mortgage shall not exceed 7 percent if—
Absolutely nothing During this area restrictions the authority on the Secretary to establish stipulations with respect to your use by borrowers in the proceeds of loans built or guaranteed underneath this chapter or to take almost every other action specially authorized by law.
The Secretary shall involve any entity obtaining assistance for just a job which gives retail broadband provider to submit an once-a-year report for 3 decades soon after completion with the task, inside a structure specified from the Secretary, that describes—