[Federal Register Volume 61, Number 171 (Tuesday, September 3, 1996)]
[Notices]
[Page 46434]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-22368]
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DEPARTMENT OF AGRICULTURE
Rural Utilities Service
Refinancing Water and Wastewater Loans
AGENCY: Rural Utilities Service, USDA.
ACTION: Notice.
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SUMMARY: This Notice describes the Rural Utilities Service's Water and
Wastewater (WW) loan program refinancing policies, informs commercial
lenders of the availability of a list of eligible WW borrowers that
have the potential to refinance outstanding debt, and invites
cooperatives and private credit sources to participate in refinancing
loans from the Agency's loan portfolio.
FOR FURTHER INFORMATION CONTACT:
Deborah Pope, Loan Specialist, Rural Utilities Service, USDA, Room
6336, South Agriculture Building, 1400 Independence Avenue S.W.,
Washington, D.C. 20250, Telephone: (202) 720-1938.
SUPPLEMENTARY INFORMATION: The Agency provides credit to public
entities such as municipalities, counties, special-purpose districts,
Indian tribes, tribal organizations and nonprofit corporations. The
eligible WW loan purposes are to construct, enlarge, extend, or
otherwise improve water and wastewater systems. The Agency's credit
programs are administered in a manner which ensures that they do not
compete with credit available from other reliable sources. Loan
agreements require financially capable borrowers to refinance debts
owed to the Agency when other credit is available at reasonable rates
and terms from a cooperative or private credit source.
The Agency would like to further develop its public/private
partnerships while enhancing its refinancing efforts. As part of these
efforts, each Rural Development State office, which administers the WW
program in the field, will maintain a current listing of borrowers that
have the potential to refinance. The Agency requests that any
interested lenders contact the State office in each State for the
current list of borrowers with potential to graduate. The Agency will
develop a unified database of lenders interested in this refinancing
initiative as part of their ongoing effort to establish a stronger
alliance with private sector lenders. Each interested lender should
submit its name and address to the State office located in its residing
State. Each State office will be required to provide a copy of its
current list of lenders annually to the National office for compilation
of a nationwide database. This list should be submitted to the National
office by October 1, of each year.
Dated: August 21, 1996.
Wally Beyer,
Adminstrator, Rural Utilities Service.
[FR Doc. 96-22368 Filed 8-30-96; 8:45 am]
BILLING CODE 3410-15-M
