7 USC 950cc-2: Use of loan proceeds to refinance loans for deployment of broadband service
Text contains those laws in effect on December 24, 2024
From Title 7-AGRICULTURECHAPTER 31-RURAL ELECTRIFICATION AND TELEPHONE SERVICESUBCHAPTER VII-GENERAL AND ADMINISTRATIVE PROVISIONS
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§950cc–2. Use of loan proceeds to refinance loans for deployment of broadband service
Notwithstanding any other provision of this chapter, the proceeds of any loan made or guaranteed by the Secretary under this chapter may be used by the recipient of the loan for the purpose of refinancing an outstanding obligation of the recipient on another telecommunications loan made under this chapter, or on any other loan if that loan would have been for an eligible telecommunications purpose under this chapter.
(May 20, 1936, ch. 432, title VII, §703, as added