The smart Trick of 922 loans That Nobody is Discussing
The smart Trick of 922 loans That Nobody is Discussing
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(ii) The typical household profits per kilowatt-hour sold because of the applicant is just not below one hundred twenty p.c of the typical household revenue per kilowatt-hour sold by all utilities in the Point out during which the applicant gives service.
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(i) exhibit the chance to furnish or increase service as a way to meet the broadband buildout necessities founded under subsection (e)(four) in all or part of an unserved or underserved rural region;
(A) the difference between the outstanding principal stability from the mortgage remaining refinanced plus the current price of the bank loan discounted in a level equal for the then latest price of resources to your Section with the Treasury for obligations of similar maturity into the bank loan staying refinanced or prepaid;
Provisions which approved the appointment and fixing of compensation of attorneys, engineers, and experts "without regard on the provisions in the civil company regulations applicable to officers and workers of America" had been omitted in the Code as obsolete and superseded. This sort of appointments are actually matter into the civil company guidelines Except specially excepted by those laws or by regulations enacted subsequent to Executive Buy 8743, Apr. 23, 1941, issued through the President pursuant to act Nov.
Any quantities within the reserve founded to get a State for the fiscal calendar year less than subparagraph (B) that are not obligated by April 1 of your fiscal year shall be accessible to the Secretary for making loans and loan guarantees beneath this section to eligible entities in any Condition, as based on the Secretary.
The entire amount of a deferment below this subsection shall not exceed the sum of your principal and desire to the loans manufactured to some client on the borrower, as based on the Secretary.
A distribution borrower not in default within the repayment of loans designed or insured less than this chapter shall be suitable for discounted prepayment as delivered Within this subsection. For the purpose of pinpointing eligibility for discounted prepayment less than this subsection or eligibility for aid below this chapter, a default by a borrower from which a distribution borrower purchases wholesale electrical power shall not be deemed a default with the distribution borrower.
In issuing rules applying this part, the Secretary may well create needs, guided because of the techniques of private lenders, to make sure that the security for any personal loan built or confirmed underneath this chapter is fairly sufficient.
(two) payment of principal when thanks (without having curiosity) on remarkable loans to the Secretary from your Secretary on the Treasury for electrification and telephone reasons and payment of principal and fascination when thanks on loans into the Secretary through the Secretary with the Treasury pursuant to part 934(a) of the title;
(B) a certification from an independent licensed engineer concluding, on the basis of an intensive engineering Investigation satisfactory on the Secretary, that the helpful lifetime of the producing plant or transmission line pledged as collateral extends to or over and above The brand new last maturity date becoming asked for by the borrower.
(1) figuring out Every single done software for your telephone mortgage below segment 935 of the title or maybe a assurance of a telephone loan less than segment 936 of this title which includes not been eventually acted upon within ninety times after the day the finished software is submitted; and
Nothing at all in this area restrictions the authority in the Secretary to ascertain conditions and terms with respect on the use by more info borrowers of the proceeds of loans produced or certain less than this chapter or to get another motion specifically approved by legislation.
A bond or Be aware assured beneath this area shall, by agreement among the Secretary and also the borrower—