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7 U.S.C. § 905 — Fees for certain loan guarantees
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** For electrification baseload generation loan guarantees, the Secretary shall, at the request of the borrower, charge an upfront fee to cover the costs of the loan guarantee.
**(b) Fee** The fee described in subsection (a) for a loan guarantee shall be equal to the costs of the loan guarantee (within the meaning of [section 661a(5)(C) of title 2](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5/C&num=0&edition=prelim)).
**(c) Limitation** Funds received from a borrower to pay the fee described in this section shall not be derived from a loan or other debt obligation that is made or guaranteed by the Federal Government.
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Stable record: federal_law:legal_authorities:record_usc_b53a75365364c34feb62414b
Source file: Laws/federal/codes/united-states-code/title-7/section-905-fees-for-certain-loan-guarantees--1c8cccd2ec.md
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Passage SHA-256: 82146781bf46d5a44e04442277e11b58b081d450b4f0fb3b95d510a2be591d4a
Source location: Title 7, Chapter 31, § 905; chapter-031-rural-electrification-and-telephone-service.md
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**(a) In general** For electrification baseload generation loan guarantees, the Secretary shall, at the request of the borrower, charge an upfront fee to cover the costs of the loan guarantee.
**(b) Fee** The fee described in subsection (a) for a loan guarantee shall be equal to the costs of the loan guarantee (within the meaning of [section 661a(5)(C) of title 2](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5/C&num=0&edition=prelim)).
**(c) Limitation** Funds received from a borrower to pay the fee described in this section shall not be derived from a loan or other debt obligation that is made or guaranteed by the Federal Government.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized and empowered, from the sums hereinbefore authorized, to make loans for rural electrification to persons, corporations, States, Territories, and subdivisions and agencies thereof, municipalities, peoples’ utility districts and cooperative, nonprofit, or limited-dividend associations, organized under the laws of any State or Territory of the United States, for the purpose of financing the construction and operation of generating plants, electric transmission and distribution lines or systems for the furnishing and improving of electric service to persons in rural areas, including by assisting electric borrowers to implement demand side management, energy efficiency and conservation programs, and on-grid and off-grid renewable energy systems, and loans, from funds available under [section 903 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section903&num=0&edition=prelim), to cooperative associations and municipalities for the purpose of enabling said cooperative associations, and municipalities to the extent that such indebtedness was incurred with respect to electric transmission and distribution lines or systems or portions thereof serving persons in rural areas, to discharge or refinance long-term debts owed by them to the Tennessee Valley Authority on account of loans made or credit extended under the terms of the Tennessee Valley Authority Act of 1933, as amended [[16 U.S.C. 831](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section831&num=0&edition=prelim) et seq.]: Provided, That the Secretary, in making such loans, shall give preference to States, Territories, and subdivisions and agencies thereof, municipalities, peoples’ utility districts, and cooperative, n
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 904
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized and empowered to extend the time of payment of interest or principal of any loans made by the Secretary pursuant to this chapter, except that, with respect to any loan made under section 904 or 922 of this title, the payment of interest or principal shall not be extended more than five years after such payment shall have become due.
**(b) Terms of deferment**
(1) Subject to limitations established in appropriations Acts, the Secretary shall permit any borrower to defer the payment of principal and interest on any insured or direct loan made under this chapter under circumstances described in this subsection, notwithstanding any limitation contained in subsection (a), except that such deferment shall not be permitted based on the determination of the Secretary of the financial hardship of the borrower.
(2)
(A) In the case of deferments made to enable the borrower to provide financing to local businesses, the deferment shall be repaid in equal installments, without the accrual of interest, over the 60-month period beginning on the date of the deferment, and the total amount of such payments shall be equal to the amount of the payment deferred.
(B) In the case of deferments made to enable the borrower to provide community development assistance, technical assistance to businesses, and for other community, business, or economic development projects not included under subparagraph (A), the deferment shall be repaid in equal installments, without the accrual of interest, over the 120-month period beginning on the date of the deferment, and the total amount of such payments shall be equal to the amount of the payment deferred.
(3)
(A) A borrower may defer its debt service payments only in an amount equal to an investm
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 912
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Federal law — U.S. Code and appendices · legal_authorities
There is hereby established in the Treasury of the United States a fund, to be known as the Rural Electrification and Telephone Revolving Fund (hereinafter referred to as the “fund”), consisting of:
(1) all notes, bonds, obligations, liens, mortgages, and property delivered or assigned to the Secretary pursuant to loans heretofore or hereafter made under sections 904, 905,11 See References in Text note below. and 922 of this title and under this subchapter, as of May 11, 1973, and all proceeds from the sales hereunder of such notes, bonds, obligations, liens, mortgages, and property, which shall be transferred to and be assets of the funds;
(2) undisbursed balances of electric and telephone loans made under sections 904, 905,1 and 922 of this title, which as of May 11, 1973, shall be transferred to and be assets of the fund;
(3) all collections of principal and interest received on and after July 1, 1972, on notes, bonds, judgments, or other obligations made or held under subchapters I and II of this chapter and under this subchapter, which shall be paid into and be assets of the fund;
(4) all appropriations for interest subsidies and losses required under this subchapter which may hereafter be made by the Congress and the unobligated balances of any funds made available for loans under the item “Rural Electrification Administration” in the Department of Agriculture and Agriculture-Environmental and Consumer Protection Appropriations Acts; or
(5) moneys borrowed from the Secretary of the Treasury pursuant to [section 934(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section934/a&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 931
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Liabilities and obligations of fund** The notes of the Secretary to the Secretary of the Treasury to obtain funds for loans under sections 904, 905,11 See References in Text note below. and 922 of this title, and all other liabilities against the appropriations or assets in the fund in connection with electrification and telephone loan operations shall be liabilities of the fund, and all other obligations against such appropriations or assets in the fund arising out of electrification and telephone loan operations shall be obligations of the fund.
**(b) Uses of fund assets** The assets of the fund shall be available only for the following purposes:
(1) loans which could be insured under this subchapter, and for advances in connection with such loans and loans previously made, as of May 11, 1973, under sections 904, 905,1 and 922 of this title;
(2) payment of principal when due (without interest) on outstanding loans to the Secretary from the Secretary of the Treasury for electrification and telephone purposes and payment of principal and interest when due on loans to the Secretary from the Secretary of the Treasury pursuant to [section 934(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section934/a&num=0&edition=prelim);
(3) payment of amounts to which the holder of notes is entitled on insured loans: Provided, That payments other than final payments need not be remitted to the holder until due or until the next agreed annual, semiannual, or quarterly remittance date;
(4) payment to the holder of insured notes of any defaulted installment or, upon assignment of the note to the Secretary at his request, the entire balance due on the note;
(5) purchase of notes in accordance with contracts of insurance entered into by the
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 932
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Federal law — U.S. Code and appendices · legal_authorities
Page 522
TITLE 7—AGRICULTURE
§ 905
Pub. L. 110–246, § 6101, inserted ‘‘efficiency and’’ before
‘‘conservation’’ in first sentence.
1996—Pub. L. 104–127, in first sentence, struck out
‘‘for the furnishing of electric energy to persons in
rural areas who are not receiving central station serv-
ice and’’ after ‘‘transmission and distribution lines or
systems’’ and substituted ‘‘section 903 of this title,’’ for
‘‘the provisions of sections 903(d) and 903(e) of this title
but without regard to the 25 per centum limitation
therein contained,’’, in second sentence, substituted
‘‘, except that’’ for ‘‘: Provided, further, That all such
loans shall be self-liquidating within a period of not to
exceed thirty-five years, and shall bear interest at the
rate of 2 per centum per annum; interest rates on the
unmatured and unpaid balance of any loans made pur-
suant to this section prior to September 21, 1944, shall
be adjusted to 2 per centum per annum, and the matu-
rity date of any such loans may be readjusted to occur
at a date not beyond thirty-five years from the date of
such loan: And provided further, That’’, and in third sen-
tence, struck out ‘‘and section 905 of this title’’ before
‘‘shall not be made’’.
1994—Pub. L. 103–354 substituted ‘‘Secretary’’ for ‘‘Ad-
ministrator’’.
1993—Pub. L. 103–129 inserted ‘‘and for the furnishing
and improving of electric service to persons in rural
areas, including by assisting electric borrowers to im-
plement demand side management, energy conserva-
tion programs, and on-grid and off-grid renewable en-
ergy systems’’ after ‘‘central station service’’.
1955—Act June 15, 1955, substituted ‘‘25 per centum’’
for ‘‘10 per centum’’.
1949—Act Oct. 28, 1949, inserted ‘‘for rural electrifica-
tion’’ after ‘‘to make loans’’ i
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 905
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