In addition to the mortgage extension authority presented in part 912 of this title, the Secretary of Agriculture is authorized to regulate and readjust the schedules for payment of principal and fascination on loans to borrowers below plans administered with the Secretary underneath the Rural Electrification Act of 1936 (7 U.
A borrower of the insured or guaranteed electric bank loan less than this chapter may possibly, without restriction or prior approval on the Secretary, devote its personal funds or make loans or guarantees, not in extra of fifteen percent of its overall utility plant.
§6104, amended portion generally. Previous to amendment, textual content go through as follows: "As made use of On this chapter the phrase 'rural region', besides as offered in portion 924(b) of the title, shall be deemed to necessarily mean any spot of America not integrated inside the boundaries of any urban spot, as outlined with the Bureau with the Census, and these time period shall be considered to include both the farm and nonfarm populace thereof; the expression 'farm' shall be considered to mean a farm as described in the publications from the Bureau of the Census; the expression 'man or woman' shall be deemed to imply any organic individual, firm, Company, or association; the phrase 'Territory' shall be deemed to incorporate any insular possession of The us; as well as the term 'Secretary' shall be considered to mean the Secretary of Agriculture."
Of the amounts delivered to an suitable entity under a grant beneath This system, the qualified entity shall use to carry out paragraph (1)(B) not larger than the lesser of—
In order to insure coordination of electrical technology and transmission financing under this chapter Along with the national Electricity policy, the Secretary in building or guaranteeing loans for the development, Procedure, or enlargement of making plants or electrical transmission strains or methods, shall take into consideration these kinds of general requirements according to the provisions of this chapter as could be released by the Secretary of Vitality.
(four) The Secretary shall undertake all reasonable initiatives to permit the entire amount of deferments approved by this subsection throughout each fiscal year.
The full degree of a deferment less than this subsection shall not exceed the sum of your principal and fascination to the loans manufactured into a purchaser with the borrower, as determined by the Secretary.
amended segment normally, inserting part catchline and substituting present provisions for provisions referring to cash of Secretary, including provisions for loans by Secretary in the Treasury, authorization of appropriations, allotment of money for loans in States, loans 922 loans of unallotted money, and unexpended money and limitation on use.
For the goal of pinpointing the eligibility of a distribution borrower not in default within the repayment of the financial loan manufactured or assured under this chapter for just a bank loan, mortgage guarantee, or lien accommodation underneath this subchapter, a default by a borrower from which the distribution borrower purchases wholesale power shall not—
substituted provisions establishing an fascination level at five for every centum per annum and also a reduce fee, although not less than 2 per cent, beneath the enumerated conditions, for provisions establishing typical and Exclusive prices, with Particular premiums relevant less than enumerated conditions.
The Secretary may make use of the money appropriated for any grant below this subchapter for the price (as described by section 661a of title two) of furnishing assistance beneath paragraph (2).
The curiosity charge described In this particular subparagraph over a financial loan to an applicant with the personal loan shall not exceed seven p.c if—
Practically nothing Within this portion limitations the authority of the Secretary to ascertain conditions and terms with respect into the use by borrowers in the proceeds of loans built or assured underneath this chapter or to consider almost every other action specially authorized by law.
(1) in coordination with Point out rural advancement initiatives, make grants and loans to persons, States, political subdivisions of States, and various entities arranged beneath the rules of States to obtain, construct, extend, up grade, and if not strengthen energy era, transmission, or distribution facilities serving communities during which the standard household expenditure for house Electrical power is not less than 275 per cent on the countrywide typical residential expenditure for household Electricity (as determined by the Strength Information and facts Agency applying The latest info out there);