7 CFR 1786.29 - Prepayment authority, program allocations, categories of prepayment applications and financially distressed borrowers' reserve.

§ 1786.29 Prepayment authority, program allocations, categories of prepayment applications and financially distressed borrowers' reserve.
(a) Prepayment Authority. So long as the aggregate amount of prepayments made after December 22, 1987, including prepayments made pursuant to § 1786.28(d) and § 1786.28(e), under section 306(A) of the RE Act, does not exceed $2.5 billion, the approval of the Secretary of the Treasury is not required in order to make a prepayment pursuant to this subpart (such amount of prepayments is hereinafter called prepayment authority).
(b) Program Allocations. In accordance with the provisions of section 637 of the 1989 Appropriations Act, $350 million of prepayment authority is allocated to RUS-financed electric systems and $150 million of prepayment authority is allocated to RUS-financed telephone utilities. The amounts of prepayment authority allocated to electric program borrowers and telephone program borrowers shall not be transferred between programs. Borrowers may not sell, assign, or otherwise transfer prepayment authority to another borrower.
(c) Categories of Prepayment Applications. Applications received by RUS from borrowers desiring to prepay pursuant to this subpart will be separated into the following two application categories:
(1) Electric Program Applications. Electric program applications are applications to make a prepayment pursuant to this subpart from RUS-financed electric utilities, that qualify in accordance with § 1786.28(a) hereof and which are received by RUS during the application period. Electric program applications will be further subdivided and classified as being either (i) a financially distressed borrower's application, or (ii) a standard electric program application. Applications received from borrowers determined by the Administrator not to be a financially distressed borrower will be classified and processed as a standard electric program application;
(2) Telephone Program Applications. Telephone program applications are applications to make a prepayment pursuant to this subpart from RUS-financed telephone utilities that qualify in accordance with § 1786.28(a) hereof and which are received by RUS during the application period;
(d) Financially distressed borrowers' reserve. The $350 million of prepayment authority allocated for RUS-financed electric utilities, is initially set aside into a financially distressed borrowers' reserve. This reserve of prepayment authority will be available for prepayments pursuant to this subpart by financially distressed borrowers who apply to make such a prepayment during the application period. In the event that a portion of financially distressed borrowers' reserve remains unsubscribed at the end of the initial application period, the unallocated portion of the financially distressed borrowers' reserve will be allocated to other electric borrowers having submitted applications during an application period to be announced by RUS. Such prepayment applications shall be classified as standard electric program applications.
[55 FR 1145, Jan. 11, 1990, as amended at 55 FR 35427, Aug. 30, 1990. Redesignated at 55 FR 49250, Nov. 27, 1990]

Title 7 published on 2014-01-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

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United States Code
U.S. Code: Title 7 - AGRICULTURE

§ 901 - Short title

§ 902 - General authority of Secretary of Agriculture

§ 903 - Authorization of appropriations

§ 904 - Loans for electrical plants and transmission lines

§ 905 - Fees for certain loan guarantees

§ 906 - Funding for administrative expenses

§ 906a - Use of funds outside the United States or its territories prohibited

§ 907 - Acquisition of property pledged for loans; disposition; sale of pledged property by borrower

§ 908 - Repealed.

§ 909 - Administration on nonpolitical basis; dismissal of officers or employees for violating provision

§ 910 - Repealed.

§ 911 - Acceptance of services of Federal or State officers; application of civil service laws; expenditures for supplies and equipment

§ 911a - Repealed.

§ 912 - Extension of time for repayment of loans

§ 912a - Rescheduling and refinancing of loans

§ 913 - Definitions

§ 914 - Separability

§ 915 - Purchase of financial and credit reports

§ 916 - Criteria for loans

§ 917 - Prohibition on restricting water and waste facility services to electric customers

§ 918 - General prohibitions

§ 918a - Energy generation, transmission, and distribution facilities efficiency grants and loans in rural communities with extremely high energy costs

§ 918b - Acquisition of existing systems in rural communities with high energy costs

§ 918c - Rural and remote communities electrification grants

§ 921 - Congressional declaration of policy

§ 921a - Policy of financing of rural telephone program

§ 921b - Policy of expansion of markets for debentures

§ 922 - Loans for rural telephone service

§ 923 - State regulation of telephone service

§ 924 - Definition of telephone service and rural area

§ 925 - Loan feasibility

§ 926 - Certain rural development investments by qualified telephone borrowers not treated as dividends or distributions

§ 927 - General duties and prohibitions

§ 928 - Prompt processing of telephone loans

§ 930 - Congressional declaration of policy

§ 931 - Rural Electrification and Telephone Revolving Fund

§ 931a - Level of loan programs under Rural Electrification and Telephone Revolving Fund

§ 932 - Liabilities and uses of Rural Electrification and Telephone Revolving Fund

§ 933 - Moneys in the Rural Electrification and Telephone Revolving Fund

§ 934 - Authorized financial transactions; interim notes; purchase of obligations for resale; sale of notes and certificates; liens

§ 935 - Insured loans; interest rates and lending levels

§ 936 - Guaranteed loans; accommodations and subordination of liens; interest rates; assignability of guaranteed loans and related guarantees

§ 936a - Prepayment of loans

§ 936b - Sale or prepayment of direct or insured loans

§ 936c - Refinancing and prepayment of FFB loans

§ 936d - Eligibility of distribution borrowers for loans, loan guarantees, and lien accommodations

§ 936e - Administrative prohibitions applicable to certain electric borrowers

§ 936f - Substantially underserved trust areas

§ 937 - Loans from other credit sources

§ 938 - Full faith and credit of the United States

§ 939 - Loan terms and conditions

§ 940 - Refinancing of rural development loans

§ 940a - Repealed.

§ 940b - Use of funds

§ 940c - Cushion of credit payments program

7 U.S. Code § 801 to 833 - Repealed.

§ 940d - Limitations on authorization of appropriations

§ 940e - Expansion of 911 access

§ 940f - Extension of period of existing guarantee

§ 940g - Electric loans for renewable energy

§ 940h - Bonding requirements

§ 941 - Telephone Bank

§ 942 - General powers

§ 943 - Special provisions governing telephone bank as a Federal agency until conversion of ownership, control, and operation

§ 944 - Governor of telephone bank; functions, powers, and duties

§ 944a - Publication of rural telephone bank policies and regulations

§ 945 - Board of directors

§ 946 - Capitalization

§ 947 - Borrowing power; telephone debentures; issuance; interest rates; terms and conditions; ratio to paid-in capital and retained...transactions of the United States; exclusion of transactions from budget totals

§ 948 - Lending power

§ 949 - Telephone bank receipts; availability for obligations and expenditures

§ 950 - Conversion of ownership, control, and operation of telephone bank

§ 950a - Liquidation or dissolution of telephone bank

§ 950b - Borrower net worth

§ 6941 - Under Secretary of Agriculture for Rural Development

§ 6941a - Coordinator for Chronically Underserved Rural Areas

§ 6942 - Rural Utilities Service

§ 6943 - Rural Housing and Community Development Service

§ 6944 - Rural Business and Cooperative Development Service

§ 6945 - Rural Development Disaster Assistance Fund

Statutes at Large
Public Laws