922 loans No Further a Mystery
922 loans No Further a Mystery
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With regard to payment help delivered beneath paragraph (two), right before coming into into your agreement beneath which the payment aid might be presented, the applicant plus the Secretary shall conform to milestones and aims from the project.
The Secretary may perhaps deny the request of the lender for your promise of the bond or Take note under this segment if the Secretary determines that—
The Secretary shall create, by regulation, enough safeguards making sure that aid under any rural growth method is not subject to this kind of condition.
(1) supplies suitable broadband support to, in the proposed qualified company region explained in the appliance submitted by the eligible entity—
An suitable entity that provides telecommunications or broadband provider to no less than twenty % from the homes in America may well not acquire an amount of resources underneath this area for any fiscal year in excessive of 15 p.c on the funds licensed and appropriated beneath subsection (j) for the fiscal calendar year.
The speed of a financial loan below this section shall be equal to the average tax-exempt municipal bond amount of similar maturities.
The borrower shall pay out the rate essential less than this area at some time the existing ensure is prolonged by making a payment in the amount of the essential fee.
(4) payment to your holder of insured notes of any defaulted installment or, on assignment in the Take note for the Secretary at his ask for, your complete stability owing on the Be aware;
The term "incumbent services supplier", with respect to an software submitted less than this portion, usually means an entity that, as of your day of submission of the appliance, is delivering broadband provider to not lower than five p.c with the households within the services territory proposed in the applying.
§6502, inserted area catchline and substituted "associations." for "associations: And supplied further more, That for the duration of one particular year from and immediately after October 28, 1949, apps for loans received with the Secretary from persons who on October 28, 1949, are engaged from the operation of existing phone service in rural locations shall be thought of and acted upon ahead of motion is taken on any application acquired from another individual for almost any loan to finance the furnishing or improvement of telephone provider to significantly exactly the same subscribers.
substituted "of which the holder had genuine understanding at time it grew to become a holder" for "of which the holder has genuine awareness".
S.C. 901 et seq.), and to increase the maturity date of any these types of financial loan to some day not beyond forty many years through the date of such personal loan the place he determines these action is important because of the impairment with the economic feasibility on the system, or perhaps the decline, destruction, or injury of your home of these types of borrowers because of A serious catastrophe.
provided the transmission of Appears, indicators, pictures, composing, or indications of all kinds in "phone support", and substituted "information telegram service or Neighborhood antenna tv system companies or amenities other than People supposed completely for educational uses" for "telegraph services or facilities".
(b) The Secretary of your Treasury is licensed and directed to invest check here in for resale obligations insured throughout the fund when supplied by the Secretary. These resales shall be on these stipulations since the Secretary with the Treasury shall determine.