Facts About 922 loans Revealed
Facts About 922 loans Revealed
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(iii) The normal per capita earnings of your citizens acquiring electrical provider within the applicant is below the typical per capita money on the residents from the State through which the applicant presents provider, or the median household income of your homes acquiring electrical support with the applicant is below the median residence earnings of your homes within the State.
A borrower of an insured or certain electric powered mortgage beneath this chapter may, with no restriction or prior acceptance of the Secretary, make investments its possess resources or make loans or assures, not in excess of 15 percent of its complete utility plant.
The Secretary shall establish, by regulation, ample safeguards to make certain aid less than any rural enhancement plan just isn't topic to such a problem.
The Secretary shall, with the consent in the lender, construction the timetable for payment of the rate to make certain sufficient cash are available to pay the subsidy fees for note or bond guarantees as presented for in subsection (e)(two).
(A) Harmonize broadband notification and reporting specifications and develop prevalent verification strategies throughout all federally supported broadband packages.
In order that the Secretary has the means important to thoroughly take a look at the proposed ensures, the Secretary might Restrict the amount of guarantees issued underneath this area to 5 per annum.
(three) build and administer several pilot jobs as a result of electric powered and telephone borrowers which the Secretary decides are beneficial or required, and suggest specific rural enhancement jobs for rural regions;
(ii) features only Those people parts where the applicant will be able to meet up with the provider demands beneath this segment, as based on the Secretary.
For being suitable to receive a grant under This system, an qualified entity shall submit for the Secretary an software at these kinds of time, in these fashion, and containing these information and facts given that the Secretary may possibly require.
If a Point out isn't going to build a plan in accordance with the necessities in the previous sentence, the Secretary shall approve any telecommunications modernization system to the Point out that fulfills the requirements that is certainly produced by a majority from the borrowers of phone loans created less than this subchapter who are located during the State.
Besides other authority beneath applicable law, the Secretary shall set up written procedures for all broadband packages to ensure that, to the most extent practicable, the plans are administered to—
(3) all collections of principal and interest acquired on and immediately after July one, 1972, on notes, bonds, judgments, or other obligations designed or held less than subchapters I and II of the chapter and underneath this subchapter, which shall be paid out into and be assets of the fund;
Clause (i) shall not use In case the applicant is suitable for funding less than An additional subchapter of the more info chapter.
In addition to every other money or authorities normally designed available under this chapter, the Secretary might make electric loans beneath this subchapter for electrical generation from renewable Vitality assets for resale to rural and nonrural citizens.