Browse Arkansas Code titles and sections
7 U.S.C. § 904 — Loans for electrical plants and transmission lines
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
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 45c7f994c03712a228ced116423a4ba6d8e4448b0602a2700dc3cf379635f96a. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_bb53709989695720949252c4
Source file: Laws/federal/codes/united-states-code/title-7/section-904-loans-for-electrical-plants-and-transmission-lines--e308cb65fc.md
Pages: Not recorded – Not recorded
Passage SHA-256: 3645d9da0c2327d973bdaf75df28889ae70262b5f90728c76c27a5a6d1342dba
Source location: Title 7, Chapter 31, § 904; chapter-031-rural-electrification-and-telephone-service.md
Stored source content
**(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, nonprofit, or limited-dividend associations, the projects of which comply with the requirements of this chapter.
**(b) Terms and conditions** Such loans shall be on such terms and conditions relating to the expenditure of the moneys loaned and the security therefor as the Secretary shall determine and may be made payable in whole or in part out of the income, except that no loan for the construction, operation, or enlargement of any generating plant shall be made unless the consent of the State authority having jurisdiction in the premises is first obtained.
**(c) Direct loans**
(1) **Direct hardship loans** — Direct hardship loans under this section shall be for the same purposes and on the same terms and conditions as hardship loans made under [section 935(c)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section935/c/1&num=0&edition=prelim).
(2) **Other direct loans** — All other direct loans under this section shall bear interest at a rate equal to the then current cost of money to the Government of the United States for loans of similar maturity, plus ⅛ of 1 percent.
**(d) Certification** Loans under this section shall not be made unless the Secretary finds and certifies that in his judgment the security therefor is reasonably adequate and such loan will be repaid within the time agreed.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
For the purpose of maintaining and operating the properties now owned by the United States in the vicinity of Muscle Shoals, Alabama, in the interest of the National defense and for agricultural and industrial development, and to improve navigation in the Tennessee River and to control the destructive flood waters in the Tennessee River and Mississippi River Basins, there is created a body corporate by the name of the “Tennessee Valley Authority” (hereinafter referred to as the “Corporation”). The Board of Directors first appointed shall be deemed the incorporators, and the incorporation shall be held to have been effected from the date of the first meeting of the Board. This chapter may be cited as the “Tennessee Valley Authority Act of 1933.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 831
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
There are authorized to be appropriated such sums as are necessary to carry out this chapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 903
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 905
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Agricultural commodity** — The term “agricultural commodity” has the meaning given the term in [section 5602 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5602&num=0&edition=prelim).
(2) **Geographically disadvantaged farmer or rancher** — The term “geographically disadvantaged farmer or rancher” has the meaning given the term in section 10906(a) of the Farm Security and Rural Investment Act of 2002 ([7 U.S.C. 2204](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2204&num=0&edition=prelim) note; Public Law 107–171).
**(b) Authorization** Subject to the availability of funds under subsection (d), the Secretary may provide geographically disadvantaged farmers or ranchers direct reimbursement payments for activities described in subsection (c).
**(c) Transportation**
(1) **In general** — Subject to paragraphs (2) and (3), the Secretary may provide direct reimbursement payments to a geographically disadvantaged farmer or rancher to transport an agricultural commodity, or inputs used to produce an agricultural commodity, during a fiscal year.
(2) **Proof of eligibility** — To be eligible to receive assistance under paragraph (1), a geographically disadvantaged farmer or rancher shall demonstrate to the Secretary that transportation of the agricultural commodity or inputs occurred over a distance of more than 30 miles, as determined by the Secretary.
(3) **Amount**
(A) *In general* — Subject to paragraph (2), the amount of direct reimbursement payments made to a geographically disadvantaged farmer or rancher under this section for a fiscal year shall equal the product obtained by multiplying—
(i) the amount of costs incurred by the geographically di
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 8701
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** For purposes of this chapter, the term—
(1) “small hydroelectric power project” means any hydroelectric power project which is located at the site of any existing dam, which uses the water power potential of such dam, and which has not more than 30,000 kilowatts of installed capacity;
(2) “electric cooperative” means any cooperative association eligible to receive loans under [section 904 of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section904&num=0&edition=prelim);
(3) “industrial development agency” means any agency which is permitted to issue obligations the interest on which is excludable from gross income under [section 103 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section103&num=0&edition=prelim);
(4) “project costs” means the cost of acquisiiton 11 So in original. Probably should be “acquisition”. or construction of all facilities and services and the cost of acquisition of all land and interests in land used in the design and construction and operation of a small hydroelectric power project;
(5) “nonprofit organization” means any organization described in section 501(c)(3) or 501(c)(4) of title 26 and exempt from tax under [section 501(a) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section501/a&num=0&edition=prelim) (but only with respect to a trade or business carried on by such organization which is not an unrelated trade or business, determined by applying [section 513(a) of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section513/a&num=0&edition=prelim) to such organization);
(6) “existing dam” means any dam, the construction of which was completed or on 22 So in original. Probably should be “on or”.
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 2708
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
From such sums as are from time to time made available by the Congress to the Secretary for such purpose, pursuant to [section 903 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section903&num=0&edition=prelim), the Secretary is authorized and empowered to make loans to persons now providing or who may hereafter provide telephone service in rural areas, to public bodies now providing telephone service in rural areas and to cooperative, nonprofit, limited dividend, or mutual associations. Except as otherwise provided by this subchapter, such loans shall be made under the same terms and conditions as are provided in [section 904 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section904&num=0&edition=prelim), for the purpose of financing the improvement, expansion, construction, acquisition, and operation of telephone lines, facilities, or systems to furnish and improve telephone service in rural areas: Provided, however, That the Secretary, in making such loans, shall give preference to persons providing telephone service in rural areas, to public bodies now providing telephone service in rural areas, and to cooperative, nonprofit, limited dividend, or mutual associations. The Secretary in making such loans shall, insofar as possible, obtain assurance that the telephone service to be furnished or improved thereby will be made available to the widest practical number of rural users. When it is determined by the Secretary to be necessary in order to furnish or improve telephone service in rural areas, such loans may be made for the improvement, expansion, construction, acquisition, and operation of telephone lines, facilities, or systems without regard to their geographical location. The Secretary is fu
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 922
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Discounted prepayment by borrowers of electric loans**
(1) **In general** — Except as provided in paragraph (2), a direct or insured loan made under this chapter shall not be sold or prepaid at a value that is less than the outstanding principal balance on the loan.
(2) **Exception** — On request of the borrower, an electric loan made under this chapter, or a portion of such a loan, that was advanced before May 1, 1992, or has been advanced for not less than 2 years, shall be sold to or prepaid by the borrower at the lesser of—
(A) the outstanding principal balance on the loan; or
(B) the present value of the loan discounted from the face value at maturity at the rate established by the Secretary.
(3) **Discount rate** — The discount rate applicable to the prepayment under this subsection of a loan or loan advance shall be the then current cost of funds to the Department of the Treasury for obligations of comparable maturity to the remaining term of the loan.
(4) **Tax exempt financing** — If a borrower prepays a loan under this subsection using tax exempt financing, the discount shall be adjusted to ensure that the borrower receives a benefit that is equal to the benefit the borrower would receive if the borrower used fully taxable financing. The borrower shall certify in writing whether the financing will be tax exempt and shall comply with such other terms and conditions as the Secretary may establish that are reasonable and necessary to carry out this subsection.
(5) **Eligibility**
(A) *In general* — A borrower that has prepaid an insured or direct loan shall remain eligible for assistance under this chapter in the same manner as other borrowers, except that—
(i) a borrower that has prepaid a loan, either before or after October 21, 1992, a
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 936b
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 1452
TITLE 16—CONSERVATION
§ 831
Sec.
831z.
Authorization of appropriations.
831aa.
Laws repealed.
831bb.
Reservation of right to amend or repeal.
831cc.
Separability.
831dd.
Liberal construction of chapter; sale of sur-
plus lands.
831ee.
Essential stewardship activities.
§ 831. Creation; short title
For the purpose of maintaining and operating
the properties now owned by the United States
in the vicinity of Muscle Shoals, Alabama, in
the interest of the National defense and for agri-
cultural and industrial development, and to im-
prove navigation in the Tennessee River and to
control the destructive flood waters in the Ten-
nessee River and Mississippi River Basins, there
is created a body corporate by the name of the
‘‘Tennessee Valley Authority’’ (hereinafter re-
ferred to as the ‘‘Corporation’’). The Board of
Directors first appointed shall be deemed the
incorporators, and the incorporation shall be
held to have been effected from the date of the
first meeting of the Board. This chapter may be
cited as the ‘‘Tennessee Valley Authority Act of
1933.’’
(May 18, 1933, ch. 32, § 1, 48 Stat. 58; Pub. L.
108–447, div. C, title VI, § 603(a), Dec. 8, 2004, 118
Stat. 2966.)
Editorial Notes
AMENDMENTS
2004—Pub. L. 108–447 substituted ‘‘Board of Directors’’
for ‘‘board of directors’’ and ‘‘Board’’ for ‘‘board’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2004 AMENDMENT
Amendment by Pub. L. 108–447 effective on the later
of the date on which at least three persons nominated
under section 604(a) of Pub. L. 108–447 take office or
May 18, 2005, see section 604(b) of Pub. L. 108–447, set
out in an Appointments; Effective Date; Transition
note under section 831a of this title.
§ 831a. Membership, operation, and duties of t
Source: Supplied 2024 U.S. Code historical extraction · 16 U.S.C. § 831
Stored review status: historical_2024_not_currentness_verified. The source passage cites 16 U.S.C. § 831. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 521
TITLE 7—AGRICULTURE
§ 904
RESTRICTIONS ON BORROWER
Act June 21, 1938, ch. 554, title IV, § 401, 52 Stat. 818,
as amended by Pub. L. 103–182, title III, § 381(d), Dec. 8,
1993, 107 Stat. 2129; Pub. L. 103–354, title II, § 235(b)(3),
Oct. 13, 1994, 108 Stat. 3221; Pub. L. 103–465, title III,
§ 342(g), Dec. 8, 1994, 108 Stat. 4954, in addition to amend-
ing subsecs. (a) and (e), provided in part as follows: ‘‘In
making loans pursuant to this title [title IV of such
act] and pursuant to the Rural Electrification Act of
1936 [this chapter], the Secretary of Agriculture shall
require that, to the extent practicable and the cost of
which is not unreasonable, the borrower agree to use in
connection with the expenditure of such funds only
such unmanufactured articles, materials, and supplies,
as have been mined or produced in the United States or
in any eligible country, and only such manufactured
articles, materials, and supplies as have been manufac-
tured in the United States or in any eligible country
substantially all from articles, materials, or supplies
mined, produced, or manufactured, as the case may be,
in the United States or in any eligible country. For
purposes of this section, an ‘eligible country’ is any
country that applies with respect to the United States
an agreement ensuring reciprocal access for United
States products and services and United States sup-
pliers to the markets of that country, as determined by
the United States Trade Representative.’’
[Amendment by section 342(g) of Pub. L. 103–465 to
section 401 of act June 21, 1938, set out above, effective
on the date on which the WTO Agreement enters into
force with respect to the United States (Jan. 1, 1995),
see section 344(b) of Pub. L. 103–465, set out as an Effec-
t
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 904
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.