Report of Rural Electrification AdministrationU.S. Government Printing Office |
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Page 111 - Act shall be administered entirely on a nonpartisan basis, and in the appointment of officials, the selection of employees, and in the promotion of any such officials or employees, no political test or qualification shall be permitted or given consideration, but all such appointments and promotions shall be given and made on the basis of merit and efficiency.
Page 110 - The Administrator is authorized and empowered, from the sums hereinbefore authorized, to make loans 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...
Page 110 - Loans under this section and section 5 shall not be made unless the Administrator finds and certifies that in his judgment the security therefor is reasonably adequate and such loan will be repaid within the time...
Page 110 - SEC. 4. The Administrator is authorized and empowered, from the sums hereinbefore authorized, to make loans to persons, corporations, States, Territories, and subdivisions and agencies thereof, municipalities, peoples utility districts and cooperative, nonprofit, or limiteddividend 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...
Page 111 - Act; to accept title to any property so purchased or acquired; to operate or lease such property for such period as may be deemed necessary...
Page 112 - rural area" shall be deemed to mean any area of the United States not included within the boundaries of any city, village, or borough having a population in excess of fifteen hundred inhabitants, and such term shall be deemed to include both the farm and nonf arm population thereof ; the term "farm...
Page 110 - Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as...
Page 111 - That all such loans shall be self-liquidating within a period of not to exceed 25 years, and shall bear interest at a rate equal to the average rate of interest payable by the United States of America on its obligations, having a maturity of 10 or more years after the dates thereof, issued during the last preceding fiscal year in which any such obligations were issued...
Page 95 - Every corporation, company, individual, association of individuals, their lessees, trustees or receivers appointed by any court whatsoever that now or hereafter may own, operate, manage or control any plant or equipment within the State...
Page 112 - That with respect to any loan made under section 4, the payment of interest or principal shall not be extended more than five years after such payment shall have become due, and with respect to any loan made under section...