It is hereby declared to be the policy of the Congress that adequate funds should be made available to rural electric and telephone systems through direct, insured and guaranteed loans at interest rates which will allow them to achieve the objectives of this chapter and that such rural electric and telephone systems should be encouraged and assisted to develop their resources and ability to achieve the financial strength needed to enable them to satisfy their credit needs from their own financial organizations and other sources at reasonable rates and terms consistent with the loan applicant’s ability to pay and achievement of this chapter’s objectives.
It is hereby declared to be the policy of the Congress that adequate funds should be made available to rural electric and telephone systems through direct, insured and guaranteed loans at interest rates which will allow them to achieve the objectives of this chapter and that such rural electric and telephone systems should be encouraged and assisted to develop their resources and ability to achieve the financial strength needed to enable them to satisfy their credit needs from their own financial organizations and other sources at reasonable rates and terms consistent with the loan applicant’s ability to pay and achievement of this chapter’s objectives.
The last sentence of section 1 ofPub. L. 93–32provided that: “The Rural Electrification Act of 1936, as amended (7 U.S.C. 901–950(b)), is therefore further amended as hereinafter provided.”
Section was not enacted as part of the Rural Electrification Act of 1936 which comprises this chapter.
Effective Date
Section 12 ofPub. L. 93–32provided that: “This Act [enacting sections
906a,
930, and
933 to
940 of this title, amending sections
903,
931,
932,
945,
946,
947, and
948 of this title, and enacting provisions set out as notes under this section] shall take effect upon enactment [May 11, 1973].”
Reservation of Right To Repeal, Alter, or Amend Pub. L. 93–32
Section 11 ofPub. L. 93–32provided that: “The right to repeal, alter, or amend, this Act [enacting sections
906a,
930, and
933 to
940 of this title, amending sections
903,
931,
932,
945,
946,
947, and
948 of this title, and enacting provisions set out as notes under this section] is expressly reserved.”
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7 USC
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Statutes at Large
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