If any provision of the chapter, or the appliance thereof to any person or circumstances, is held invalid, the remainder from the chapter and the application of this sort of provision to other persons or conditions shall not be afflicted therefore.
The Secretary shall make grants, shall make loans, and shall ensure loans to suitable entities explained in subsection (d) to provide funds for the development, advancement, or acquisition of facilities and machines with the provision of broadband support in rural regions.
This kind of loans shall be on this sort of stipulations associated with the expenditure on the moneys loaned and the security therefor because the Secretary shall figure out and will be produced payable in complete or partly out of the profits, other than that no mortgage for the construction, Procedure, or enlargement of any making plant shall be manufactured Except if the consent in the Point out authority owning jurisdiction during the premises is initially attained.
For needs of this portion, an 'qualified nation' is any country that applies with regard to the United States an settlement guaranteeing reciprocal access for United states of america services and U.s. suppliers for the marketplaces of that region, as determined by the United States Trade Agent."
inserted provisions prohibiting Administrator from furnishing support to telephone borrower Except if borrower exclusively applies therefor.
Provisions similar to Those people During this portion ended up contained in the following prior appropriation act:
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Quantities in Every cushion of credit account shall accrue curiosity on the borrower at a price of five percent per annum.
§ 922. — Loans for rural telephone service. [Laws in outcome as of January 24, 2002] [Document not afflicted by Community Legal guidelines enacted between January 24, 2002 and December 19, 2002] [CITE: 7USC922] TITLE seven--AGRICULTURE CHAPTER 31--RURAL ELECTRIFICATION AND Phone Assistance SUBCHAPTER II--RURAL Phone SERVICE Sec. 922. Loans for rural phone support From this sort of sums as are every now and then produced out there because of the Congress for the Secretary for such reason, pursuant to segment 903 of the title, the Secretary is licensed and empowered to generate loans to folks now offering or who may perhaps hereafter supply phone service in rural parts, to general public bodies now delivering phone services in rural regions also to cooperative, nonprofit, restricted dividend, or mutual associations. Other than as if not provided by this subchapter, these kinds of loans shall be built under the very same stipulations as are delivered in segment 904 of this title, for the goal of financing the development, enlargement, design, acquisition, and Procedure of phone strains, amenities, or systems to furnish and enhance telephone support in rural regions: Furnished, having said that, Which the Secretary, in earning such loans, shall give preference to persons furnishing telephone support in rural spots, to public bodies now supplying phone get more info service in rural areas, also to cooperative, nonprofit, minimal, dividend, or mutual associations: And furnished further more, That for a period of a person 12 months from and after Oct 28, 1949, apps for loans acquired with the Secretary from persons who on Oct 28, 1949, are engaged while in the operation of present telephone service in rural spots shall be viewed as and acted upon before motion is taken on any application received from another particular person for any personal loan to finance the furnishing or enhancement of phone support to significantly the exact same subscribers. The Secretary in producing such loans shall, insofar as is possible, acquire assurance that the phone company being furnished or enhanced thereby might be produced accessible to the widest simple variety of rural buyers. When it is set because of the Secretary to become needed in order to furnish or boost phone assistance in rural parts, this kind of loans may be made for the improvement, enlargement, development, acquisition, and operation of phone strains, amenities, or systems without regard to their geographical location.
The Secretary shall build techniques for the selection and the provision of complex providers by consultants to make certain the consultants have no money or other conflicts of curiosity in the result of the application with the borrower.
"(A) notify the Administrator in producing, within just thirty days once the issuance of polices to perform this segment, in the intent from the borrower to prepay; and
A borrower of a personal loan created by the Federal Financing Lender and certain beneath section 936 of the title may possibly, at the option of your borrower, refinance or prepay the financial loan or an advance on the personal loan, or any part of the loan or progress.
Clause (i) shall not use In case the applicant is eligible for funding less than A further subchapter of this chapter.
Specified rural advancement investments by certified phone borrowers not taken care of as dividends or distributions.