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Code of Federal Regulations (Last Updated: July 5, 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 G - Long-Range Financial Forecasts |
§ 1710.301 - Financial forecasts - distribution borrowers.
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§ 1710.301 Financial forecasts - distribution borrowers.
(a) Financial forecasts prepared by distribution borrowers shall cover at least a ten-year period, unless a shorter period is authorized by other RUS regulations.
(b) In addition to the requirements set forth in § 1710.300 of this part, financial forecasts prepared by distribution borrowers in support of a loan application shall:
(1) Include expenditures for any maintenance determined to be needed in the current system's operation and maintenance review and evaluation in order to comply with mortgage covenants and prudent utility practice;
(2) Fully explain the basis for the power cost projections used. Generally, the power supplier's most recent forecasted rates shall be used; and
(3) Use RUS Form 325 or computer-generated equivalent reports.