The Secretary shall offer you any applicant for your mortgage beneath this paragraph the choice to include during the mortgage arrangement the proper of the applicant to prepay the bank loan on conditions according to identical provisions of economic loans.
The Secretary shall make grants, shall make loans, and shall assurance loans to suitable entities described in subsection (d) to provide funds for the development, enhancement, or acquisition of facilities and devices for the provision of broadband service in rural places.
"(b) Statement of Plan.—It's the coverage of your Congress that The agricultural Electrification Administration make loans that aid the development and improvement of the rural telecommunications infrastructure in an effort to make contemporary telecommunications know-how and providers accessible at affordable fees to the greatest practicable range of people in rural regions in the United States."
The Secretary may well create a bank loan less than this section to an unexpected emergency conversation devices service provider to expand or boost 911 accessibility or other communications or technologies described in subsection (a) In case the neighborhood govt which includes jurisdiction around the project isn't allowed to acquire the debt ensuing within the personal loan.
S.C. 901 et seq.], and that these kinds of rural electric powered and telephone methods really should be encouraged and assisted to develop their resources and skill to achieve the financial energy necessary to permit them to satisfy their credit score demands from their own individual financial corporations and other resources at reasonable rates and conditions in keeping with the financial loan applicant's capacity to pay and achievement of the Act's aims.
Any quantities in the reserve established for the Point out for a fiscal calendar year beneath subparagraph (B) that are not obligated by April 1 of your fiscal yr shall be accessible to the Secretary for making loans and financial loan guarantees underneath this section to qualified entities in almost any Point out, as determined by the Secretary.
Govt-imposed costs linked to crisis communications (which includes Point out or area 911 charges) could be thought of as stability for your financial loan beneath this part.
(2) regulate the get or sequence of innovations of resources underneath telephone loans designed underneath this chapter to any borrower who may have been given any mixture of phone loans from the Secretary or the Federal Funding Financial institution; or
(ii) for that interval between the day of the refinancing or prepayment and the initial quarterly payment date that occurs 12 many years after the finish in the yr during which the amount becoming refinanced or prepaid was Sophisticated, the present price of the distinction between—
Other than as supplied in clause (ii), subparagraph (A)(ii) shall not utilize to an incumbent provider provider during the portion of a proposed services territory where the service provider is upgrading broadband provider 922 loans to satisfy the bare minimum acceptable amount of broadband service proven less than subsection (e) for the existing territory with the incumbent service supplier.
(B) a certificate from an independent accredited engineer concluding, on The idea of a thorough engineering analysis satisfactory towards the Secretary, that the practical lifetime of the producing plant or transmission line pledged as collateral extends to or beyond The brand new last maturity day staying requested by the borrower.
The borrower shall certify in creating whether the financing might be tax exempt and shall adjust to these kinds of other stipulations because the Secretary might build which might be acceptable and required to execute this subsection.
provided the transmission of Appears, indicators, images, creating, or indications of every kind inside of "phone service", and substituted "concept telegram service or Neighborhood antenna tv procedure companies or amenities other than Individuals meant exclusively for academic needs" for "telegraph services or facilities".
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