"(two) are unable to, in accordance with commonly recognized administration and accounting ideas and devoid of charging premiums to its consumers or subscribers so higher as to create a considerable disparity involving these costs along with the costs charged for comparable support in the same or close by locations by other suppliers, offer support according to the targets of the chapter."
The Secretary shall make grants, shall make loans, and shall assurance loans to eligible entities explained in subsection (d) to provide funds for the development, enhancement, or acquisition of services and machines for that provision of broadband service in rural spots.
Together with hardship loans that are made under subparagraph (A), the Secretary might make an insured electric personal loan at an fascination fee of 5 p.c per annum to an applicant for your bank loan if, in the only real discretion of the Secretary, the applicant has seasoned a severe hardship.
The Secretary of Agriculture is approved to get this sort of financial and credit studies as could possibly be required to perform the Secretary's licensed operate: Provided, That purchases less than this authority shall not be designed Until provision is made therefor while in the applicable appropriation and the expense thereof is not really in extra of restrictions prescribed therein.
" for "basis Should the proceeds with the bonds or notes are accustomed to make loans for any electrification or phone objective suitable for help below this chapter, together with area 904 or 922 of the title or to refinance bonds or notes issued for these kinds of uses.", and extra par. (two).
(four) The Secretary shall undertake all fair efforts to permit the full level of deferments approved by this subsection for the duration of Each individual fiscal calendar year.
(i) The common profits for every kilowatt-hour marketed through the applicant isn't fewer than one hundred twenty p.c of the common earnings per kilowatt-hour marketed by all utilities in the Condition wherein the applicant gives service.
If a borrower satisfies the penalty necessities of paragraph (one) by increasing the fantastic principal harmony of the mortgage advance which is getting refinanced, the borrower shall produce a payment at time from the refinancing equivalent to two.
§ 922. — Loans for rural phone provider. [Rules in impact as of January 24, 2002] [Document not afflicted by Community Legal guidelines enacted in between January 24, 2002 and December 19, 2002] [CITE: 7USC922] TITLE seven--AGRICULTURE CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE Assistance SUBCHAPTER II--RURAL TELEPHONE Company Sec. 922. Loans for rural telephone service From such sums as are from time to time produced obtainable because of the Congress to your Secretary for this sort of goal, pursuant to segment 903 of the title, the Secretary is licensed and empowered to produce loans to folks now offering or who may perhaps hereafter supply phone provider in rural places, to general public bodies now offering telephone company in rural places and also to cooperative, nonprofit, confined dividend, or mutual associations. Except as normally furnished by this subchapter, such loans shall be created beneath the similar terms and conditions as are offered in area 904 of the title, for the objective of funding the development, growth, design, acquisition, and Procedure of phone traces, services, or devices to furnish and improve phone service in rural places: Furnished, however, Which the Secretary, in making this kind of loans, shall give preference to persons supplying telephone service in rural regions, to community bodies now giving phone service in rural areas, and to cooperative, nonprofit, limited, dividend, or mutual associations: And supplied more, That for a duration of a person 12 months from and immediately after October 28, 1949, programs for loans received via the Secretary from people who on October 28, 1949, are engaged within the Procedure of current phone provider in rural locations shall be thought of and acted upon just before motion is taken upon any software acquired from any other human being for just about any loan to finance the furnishing or advancement of telephone assistance to considerably exactly the same subscribers. The Secretary in earning these kinds of loans shall, insofar as you possibly can, attain assurance that the telephone company for being furnished or enhanced thus is going to be made available to the widest realistic quantity of rural users. When it is set because of the Secretary to become important to be able to furnish or increase phone service in rural places, these types of loans might be manufactured for the advance, enlargement, design, acquisition, and Procedure of phone strains, services, or units devoid of regard to their geographical place.
(B) reviewing some other source that's pertinent to support information validation, as based on the Secretary; and
” in second sentence and “and that no duplication” for “, nor shall this sort of bank loan be designed in almost any Condition which now has or may well hereafter Have got a Point out regulatory system having authority to regulate phone company also to involve certificates of benefit and requirement to your applicant Until these types of certification from these kinds of agency is initial obtained. In a Point out wherein there more info is no these types of company or regulatory entire body legally licensed to situation this sort of certificates towards the applicant, no loan shall be built beneath this segment unless the Secretary shall ascertain (and set forth his reasons therefor in producing) that no duplication” in previous sentence.
, The Secretary, in producing these loans, shall give preference to folks delivering telephone assistance in rural places, to general public bodies now offering phone services in rural spots, also to cooperative, nonprofit, constrained dividend, or mutual associations. The Secretary in earning these kinds of loans shall, insofar as possible, receive assurance that the phone support being furnished or improved thereby might be made available to the widest realistic number of rural consumers. When it is set via the Secretary to become important as a way to furnish or improve telephone assistance in rural areas, this sort of loans may very well be produced for the development, growth, building, acquisition, and operation of telephone lines, facilities, or techniques devoid of regard for their geographical site.
§ 926. Selected rural progress investments by skilled phone borrowers not taken care of as dividends or distributions
When furnishing a grant underneath this subchapter, the Secretary, at the sole discretion of the Secretary, may perhaps make—