[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1735.80]

[Page 322-323]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1735--GENERAL POLICIES, TYPES OF LOANS, LOAN REQUIREMENTS--TELECOMMUNICATIONS PROGRAM--Table of Contents
 
 Subpart H--Acquisitions or Mergers Not Involving Additional Loan Funds
 
Sec. 1735.80  Submission of data.


    When a borrower is not requesting loan funds for an acquisition or 
merger, the borrower shall first notify RUS and submit for review by RUS 
the documents and information listed in (a) through (l) of this section 
required by RUS.
    (a) For any nonborrowers involved, their most recent balance sheets, 
operating statements, detail of plant accounts, reports to the state 
commission, and audits, if available.
    (b) Completed RUS Form 507, ``Report on Telephone Acquisition.''
    (c) A map (such as a road map) showing county lines, the boundaries 
of the proposed acquisition and the borrower's existing service 
territory, and the names of other telephone companies serving adjoining 
areas.
    (d) A brief statement of the plans for incorporating the acquired 
facilities into the borrower's existing system.
    (e) The number of subscribers currently receiving service in the 
areas involved in the acquisition or merger and the number of new 
subscribers that will be served over the next 5 years as a result of the 
acquisition or merger.
    (f) Copies of deeds of real estate to be acquired, with an 
explanation of the proposed use of the land.
    (g) Copies of security documents of any other lenders involved and 
any contracts or other rights of obligations to be assumed by the 
survivor.

[[Page 323]]

    (h) A list of all counties in which the proposed system will have 
facilities.
    (i) If Article II, section 4(b) of the standard mortgage has not 
been made applicable, plans for operating the unified system.
    (j) In the case of a merger, the proposed articles of merger that 
are to be used.
    (k) In the case of an acquisition, the proposed purchase price, plus 
two copies of any options, bills of sale, or deeds, and two copies of 
any acquisition agreements. All of these documents are subject to RUS 
approval. If the acquisition agreement is approved by RUS, two copies of 
it shall be returned to the borrower.
    (l) Any other data deemed necessary by the Administrator for an 
evaluation of the acquisition or merger.

(Approved by the Office of Management and Budget under control number 
0572-0084)

[54 FR 14626, Apr. 12, 1989. Redesignated at 55 FR 39395, Sept. 27, 
1990]