(a) The Secretary is licensed to make and challenge interim notes on the Secretary in the Treasury for the purpose of acquiring money needed for discharging obligations on the fund and for building loans, developments and licensed expenses out of your fund. These kinds of notes shall be in this kind of kind and denominations and have these kinds of maturities and be subject to this kind of stipulations as may be agreed upon through the Secretary and also the Secretary with the Treasury. Such notes shall bear interest in a level fixed by the Secretary of the Treasury, taking into account The present average current market produce of outstanding marketable obligations of The us possessing maturities similar to the notes issued with the Secretary underneath this segment. The Secretary of the Treasury is authorized and directed to invest in any notes from the Secretary issued hereunder, and, for that function, the Secretary from the Treasury is licensed to make use of being a public financial debt transaction the proceeds from your sale of any securities issued under chapter 31 of title 31, plus the functions for which this sort of securities may very well be issued below these kinds of chapter are prolonged to include the purchase of notes issued through the Secretary.
The Secretary might deny the ask for of a lender with the promise of a bond or note under this segment Should the Secretary establishes that—
(4) any outreach things to do performed because of the Secretary to stimulate entities in rural places without broadband assistance to submit apps underneath this chapter;
For being eligible for any grant underneath this segment, Together with the requirements of subsection (d), the venture that is the topic of the grant shall—
Notwithstanding subsection (a), a direct or insured financial loan can be pay as you go by an electric borrower in the lesser of the remarkable principal balance due thereon or maybe the present worth thereof discounted from your face worth at maturity at the speed established with the Secretary When the borrower is an electrical Firm which resulted from a merger or consolidation involving a borrower and an organization which, just before Oct one, 1987, pay as you go its immediate or insured loans pursuant to this segment. Prepayments by a borrower hereunder shall be created not later than 1 year following the effective date on the merger, consolidation, or other transaction.
(A) eligibility requirements to ensure that any bank loan prepayment activity required to be performed less than this subsection will probably be directed to Those people cooperative borrowers in greatest have to have of the advantages connected with prepayment, as based on the Secretary; and
§922. Loans for phone support Portion Text From these types of sums as are occasionally manufactured accessible because of the Congress for the Secretary for these types of function, pursuant to portion 903 of this title, the Secretary is approved and empowered to make loans to individuals now furnishing or who could hereafter deliver telephone services in rural locations, to public bodies now furnishing telephone support in rural spots and to cooperative, nonprofit, constrained dividend, or mutual associations.
(4) payment to your holder of insured notes of any defaulted installment click here or, on assignment from the Notice into the Secretary at his ask for, the whole harmony owing over the Be aware;
inserted "and to the furnishing and increasing of electric powered support to folks in rural spots, which include by assisting electrical borrowers to put into practice demand side administration, Power conservation applications, and on-grid and off-grid renewable Power techniques" right after "central station service".
Extensions underneath this area shall not be created unless the Secretary initial finds and certifies that, soon after providing effect to your extension, in his judgment the security for all loans towards the borrower produced or confirmed under this chapter within reason sufficient and that every one these loans will probably be repaid inside the time agreed.
The Secretary shall make sure that the type and volume of, and means of protection utilized to protected, any personal loan or personal loan guarantee below this segment is commensurate to the risk involved with the mortgage or mortgage assure, specifically in any case through which the financial loan or loan guarantee is issued to the financially strong and secure entity, as based on the Secretary.
(ii) give priority to purposes for assignments to provide the most amount of broadband provider to the best proportion of rural households from the proposed support area determined in the application;
integrated the transmission of Seems, indicators, pics, writing, or signs of all kinds inside "telephone support", and substituted "concept telegram support or Local community antenna television technique products and services or amenities in addition to Those people supposed solely for educational purposes" for "telegraph services or amenities".
(7) the general progress toward satisfying the aim of improving the caliber of rural everyday living by expanding rural broadband entry, as shown by metrics, which includes—