7 U.S. Code § 921a - Policy of financing of rural telephone program
It is hereby declared to be the policy of the Congress that the growing capital needs of the rural telephone systems require the establishment of a rural telephone bank which will furnish assured and viable sources of supplementary financing with the objective that said bank will become an entirely privately owned, operated, and financed corporation. The Congress further finds that many rural telephone systems require financing under the terms and conditions provided in this subchapter.
The last sentence of section 1 of Pub. L. 92–12 provided that:
Section was not enacted as part of title II of the Rural Electrification Act of 1936 which comprises this subchapter.