[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: 7CFR1751.103]

[Page 369]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1751--TELECOMMUNICATIONS SYSTEM PLANNING AND DESIGN CRITERIA, AND PROCEDURES--Table of Contents
 
         Subpart B--State Telecommunications Modernization Plan
 
Sec. 1751.103  Loan and loan advance requirements.

    (a) For information about loan eligibility requirements in relation 
to the Modernization Plan, see 7 CFR part 1735. In particular, beginning 
February 13, 1996, RUS will make RUS hardship loans, RUS cost-of-money 
loans, and RTB loans for facilities and other RE Act purposes in a State 
only if:
    (1) The State has an RUS approved Modernization Plan; and
    (2) The Borrower to whom the loan is to be made is participating in 
the Modernization Plan for the State. A Borrower is considered to be 
participating if, in RUS's opinion, the purposes of the loan requested 
by the Borrower are consistent with the Borrower achieving the 
requirements stated in the Modernization Plan within the timeframe 
stated in the Modernization Plan unless RUS has determined that 
achieving the requirements is not technically or economically feasible.
    (b) With regard to the three types of loans discussed in paragraph 
(a), only loans approved after the date the State has an RUS approved 
Modernization Plan are subject to complying with the Modernization Plan.
    (c) For loans subject to complying with the Modernization Plan, 
advances will not be made if, in RUS's opinion, the advances are not 
consistent with achieving the requirements of the Modernization Plan.