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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XVII - Rural Utilities Service, Department of Agriculture |
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Part 1710 - General and Pre-Loan Policies and Procedures Common to Electric Loans and Guarantees |
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Subpart C - Loan Purposes and Basic Policies |
§ 1710.111 - Refinancing.
Latest version.
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§ 1710.111 Refinancing.
(a) RUS makes loans or loan guarantees to refinance the outstanding indebtedness of borrowers in the following cases:
(1) Loans or loan guarantees to refinance long-term debt owed by borrowers to the Tennessee Valley Authority for credit extended under the terms of the Tennessee Valley Authority Act of 1933, as amended.
(2) Loan guarantees made in accordance with the provisions of section 306A of the RE Act to prepay a loan (or any loan advance thereunder) made by the Federal Financing Bank.
(b) In certain circumstances, RUS may make a loan to replace interim financing obtained for the construction of facilities (See § 1710.109).