[Federal Register Volume 63, Number 221 (Tuesday, November 17, 1998)]
[Notices]
[Page 63833]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-30671]
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DEPARTMENT OF AGRICULTURE
Rural Business-Cooperative Service
Maximum Dollar Amount on Loan and Grant Awards Under the Rural
Economic Development Loan and Grant Program for Fiscal Year 1999
AGENCY: Rural Business-Cooperative Service, USDA.
ACTION: Notice.
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SUMMARY: The Rural Business-Cooperative Service (RBS) hereby announces
the maximum dollar amount on loan and grant awards under the Rural
Economic Development Loan and Grant (REDLG) program for Fiscal Year
(FY) 1999. The maximum dollar award on zero-interest loans for FY 1999
is $450,000. The maximum dollar award on grants for FY 1999 is
$330,000. The maximum loan and grant awards stated in this notice are
effective for loans and grants made during the fiscal year beginning
October 1, 1998, and ending September 30, 1999. REDLG loans and grants
are available to Rural Utilities Service electric and telephone
utilities to assist in developing rural areas from an economic
standpoint.
FOR FURTHER INFORMATION CONTACT: Patricia Wing, Loan Specialist, Rural
Business-Cooperative Service, USDA, STOP 1521, Room 6870, 1400
Independence Avenue, SW, Washington, DC 20250, Telephone: (202) 720-
9558. FAX: (202) 720-6561. E-mail: PWing@rus.usda.gov.
SUPPLEMENTARY INFORMATION: The maximum loan and grant awards are
calculated as 3.0 percent of the projected program level for zero-
interest loans and grants during the fiscal year. The projected program
level for zero-interest loans during FY 1999 is $15,000,000, and the
projected program level for grants is $11,000,000. Applying the
specified 3.0 percent to these program levels results in the maximum
loan award of $450,000 and the maximum grant award of $330,000.
Dated: November 6, 1998.
Dayton J. Watkins,
Administrator, Rural Business-Cooperative Service.
[FR Doc. 98-30671 Filed 11-16-98; 8:45 am]
BILLING CODE 3410-XY-P
