§ 1700.143 - Assistant Administrator—Telephone.

The Assistant Administrator—Telephone in conformance with applicable regulations and RUS policy is delegated authority to approve or execute for the telephone program:

(a) Loans, loan guarantees and lien accommodations or subordinations of between $7,500,000 and $15,000,000 except for those reserved for the Administrator in § 1700.73(a).

(b) Loans and loan guarantees with acquisition costs between $2,000,000 and $5,000,000.

(c) Loans and loan guarantees with refinancing amounts between $2,000,000 and $5,000,000.

(d) Approval of the following matters concerning unpaid and outstanding loans:

(1) Basis date agreements or agreements for extension of advances and related recommendations;

(2) Budget adjustments for loans made by the Administrator and loan budget adjustments amounting to more than $2,000,000.

(e) Approval of the following concerning borrower facilities, organization or corporate status:

(1) Field trial installations of telephone materials and equipment involving more than $250,000;

(2) Approval of the purchase price of properties to be acquired by telephone borrowers when the purchase price exceeds RUS approved appraisal value;

(3) Contracts between $2,000,000 and $5,000,000 for acquisition by telephone borrowers of existing facilities in place;

(4) Approval of sales of property and related partial releases of lien in amounts greater than $500,000 up to $5,000,000;

(5) Approval of the investment in an affiliate which exceeds the allowable distribution level of more than $50,000;

(6) Action concerning disapproval of the selection of a manager or an attorney by a telephone borrower;

(7) Agreements for the merger or consolidation of RUS telephone borrowers; and

(8) Waiver of mortgage provisions for payments of dividends or other cash distributions, where such excess payments or distributions exceed $50,000 in any year.

(f) Memoranda to telephone staff or to two or more telephone borrowers.

(g) Reports and invoices for more than $100,000 under contracts covering research services performed for RUS in connection with the telephone program.

(h) Approval of staff instructions affecting only the Telephone Program.

(i) All authorities conferred upon other persons in § 1700.144.