rural-development · Rural Utilities Service · Rule · Published 1995-01-19 · Effective 1995-02-21 · 60 FR 3726
Document
Document number
95-1051
Federal Register citation
60 FR 3726
CFR reference
7 CFR 1710
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Utilities Service
Publication date
1995-01-19
Effective date
1995-02-21
Abstract
The Rural Utilities Service (RUS) hereby amends its regulations for electric loans. Key provisions of this regulation include: Lengthening the allowable construction financing period for most electric loans; clarifying RUS requirements for supplemental financing concurrent with municipal rate loans; substantially modifying the requirement that borrowers develop and maintain certain levels of equity; and clearly setting forth the documents required for a complete loan application. In addition, this regulation eliminates some policies and procedures that have become obsolete. This regulation is intended to simplify loan application procedures for borrowers and reduce administrative costs to the Government.