Details, Fiction and 922 loans
Details, Fiction and 922 loans
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(1) rescind an insured phone bank loan made beneath this chapter without the consent on the borrower, Unless of course each of the purposes for which phone loans are made for the borrower below this chapter have been achieved with funds delivered beneath this chapter;
(B) one hundred pc of the quantity of desire for one 12 months to the fantastic principal stability on the financial loan or financial loan progress, or any portion of the financial loan or progress, becoming refinanced, multiplied through the ratio that—
(bb) the fascination charge on industrial loans to the period that do not pay for the borrower this type of proper.
The Secretary of Agriculture is approved to buy this sort of economic and credit score stories as can be needed to carry out the Secretary's licensed do the job: Offered, That buys under this authority shall not be built unless provision is manufactured therefor during the applicable appropriation and the expense thereof just isn't in surplus of limits prescribed therein.
These kinds of merchandise may very well be paid out in connection with assured loans soon after or in reference to the acquisition of such loans or security thereof following default, on the extent decided to be important to safeguard the desire of The federal government, or in reference to almost every other exercise licensed With this chapter;
(one) the amount of apps been given and approved, including any Particular bank loan conditions or circumstances for which the Secretary furnished added aid to unserved places;
The lower price fee to be established through the Secretary for immediate or insured loans prepayments hereunder shall be depending on the current cost of cash to the Section in the Treasury for obligations of similar maturity to Those people getting prepaid. If a borrower prepays employing tax exempt funding, the price reduction shall be altered to produce the discounted comparable to entirely taxable financing. The borrower shall certify in creating whether or not the funding will probably be tax exempt and shall comply with this sort of other stipulations because the Secretary might create which might be reasonable and required to employ this provision. As used Within this segment, the expression "immediate bank loan" suggests a loan manufactured beneath area 904 of this title.
(D) Leverage help systems and expert services from on the internet platforms for vendors of broadband service in rural areas.
§ 922. — Loans for rural telephone service. [Laws in effect as of January 24, 2002] [Document not impacted by Public Regulations enacted between January 24, 2002 and December 19, 2002] [CITE: 7USC922] TITLE 7--AGRICULTURE CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE SERVICE SUBCHAPTER II--RURAL Phone Services Sec. 922. Loans for rural phone assistance From this kind of sums as are every so often created obtainable through the Congress to your Secretary for this kind of goal, pursuant to segment 903 of this title, the Secretary is authorized and empowered to create loans to individuals now supplying or who may well hereafter give telephone provider check here in rural areas, to community bodies now supplying phone service in rural locations and also to cooperative, nonprofit, confined dividend, or mutual associations. Besides as usually supplied by this subchapter, these types of loans shall be created beneath the same stipulations as are provided in area 904 of the title, for the goal of funding the advance, enlargement, design, acquisition, and operation of telephone traces, facilities, or methods to furnish and strengthen phone service in rural places: Offered, having said that, Which the Secretary, in making this kind of loans, shall give choice to individuals delivering telephone service in rural regions, to general public bodies now supplying telephone service in rural areas, and to cooperative, nonprofit, restricted, dividend, or mutual associations: And delivered additional, That for any period of 1 12 months from and immediately after October 28, 1949, applications for loans received with the Secretary from persons who on Oct 28, 1949, are engaged from the operation of current phone service in rural spots shall be thought of and acted on ahead of action is taken on any application acquired from some other particular person for any mortgage to finance the furnishing or advancement of phone support to significantly a similar subscribers. The Secretary in generating these kinds of loans shall, insofar as you possibly can, attain assurance that the telephone company for being furnished or enhanced thereby are going to be made accessible to the widest sensible amount of rural consumers. When it is determined with the Secretary for being essential to be able to furnish or make improvements to telephone assistance in rural places, these types of loans could be designed for the development, expansion, building, acquisition, and operation of telephone strains, facilities, or techniques without the need of regard for their geographical place.
Strength technology, transmission, and distribution amenities performance grants and loans in rural communities with incredibly large Electrical power charges.
The Expert services organized by This web site can be obtained only at the locations recognized in This web site. This great site and these Terms and Conditions shall be ruled by and will be construed in accordance Along with the regulations with the Point out in which you reside, excluding its conflicts of legislation concepts.
(iv) The common quantity of subscribers for every mile of line in the region included in the proposed personal loan will not be greater than 17.
integrated the transmission of Appears, signals, pics, crafting, or signs of every kind inside of "phone services", and substituted "concept telegram service or Local community antenna television technique providers or amenities other than People supposed exclusively for educational uses" for "telegraph services or facilities".
Specific rural advancement investments by competent telephone borrowers not addressed as dividends or distributions.