The time period "eligible broadband service" usually means broadband service which has the potential to transmit details at a velocity specified through the Secretary, which is probably not a lot less than the relevant minimum obtain and add speeds set up with the Federal Communications Commission in defining the phrase "Innovative telecommunications capability" for reasons of portion 1302 of title 47.
Loans comprised of or insured throughout the fund shall be for the same functions and on the same conditions and terms as are furnished for loans in subchapters I and II of the chapter besides as normally supplied in sections 933 to 938 inclusive.
In awarding support below this portion, the Secretary shall give precedence to proposals for assignments that—
(ii) in periodic installments of desire and, at the conclusion of the time period of the bond or note, as relevant, through the repayment of your exceptional principal; or
, That such refinancing shall be based on the Secretary to get required in an effort to furnish and increase telephone service in rural locations: And provided even further
(B) with regard to other objects, the average from the depreciation premiums utilized by borrowers of telephone loans built below this chapter;
struck out "as well as Governor of the phone financial institution" soon after "The Secretary" in introductory provisions.
On a yearly basis, the Secretary shall submit to your Congress a report that describes the extent of participation while in the broadband guidance applications administered because of the Secretary for your previous fiscal year, which include a description of—
(D) At the time of the deferment, the borrower shall more info make a payment to some cushion of credit account recognized and managed pursuant to section 940c of the title in an volume equal to the amount of the payment deferred. The balance of these account shall not be lessened by the borrower below the extent of your unpaid balance from the payment deferred.
(ii) the volume of quarterly payment dates among the first quarterly payment date that happens twelve many years following the stop in the 12 months by which the amount staying refinanced was Highly developed as well as the maturity day of your mortgage progress; and
struck out at conclusion "On or just before February fifteen, of each calendar 12 months beginning with calendar yr 1976, or such other date as may very well be specified by the appropriate committee, the Secretary of Agriculture shall testify prior to the Home Committee on Agriculture plus the Senate Committee on Agriculture, Nutrition, and Forestry and provide justification in detail of the quantity asked for inside the spending plan to become appropriated for the subsequent fiscal calendar year for the objective of administering this chapter and for the objective of building the research, investigations, publications, and studies herein approved."
The term "broadband buildout need" usually means the extent of Net provider an applicant getting assistance under this portion ought to agree, at the time the application is finalized, to offer to the duration of any challenge-relevant agreement in between the applicant and also the Office.
Pub. L. 115–334, § 6211, substituted “furnishing telephone assistance in rural locations, which include indebtedness of recipients on An additional telecommunications financial loan made less than this chapter.” for “furnishing telephone provider in rural spots: Supplied, That these kinds of refinancing shall be based on the Secretary to generally be required so as to furnish and increase phone services in rural places: And furnished further, That this kind of refinancing shall constitute not a lot more than forty for each centum of any financial loan built less than this subchapter.”
A bond or Take note certain below this portion shall, by arrangement in between the Secretary and also the borrower—