[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: 7CFR1786.97]

[Page 1103]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1786--PREPAYMENT OF RUS GUARANTEED AND INSURED LOANS TO ELECTRIC AND TELEPHONE BORROWERS--Table of Contents
 
Subpart E--Discounted Prepayments on RUS Notes in the Event of a Merger 
                    of Certain RUS Electric Borrowers
 
Sec. 1786.97  Prepayment.

    There were 29 former RUS electric borrowers that prepaid their 
direct or insured loans under section 306B(a) of the Act prior to 
October 1, 1987. (See subpart C of this part.) These borrowers are 
listed in appendix A to subpart E of this part. Any RUS electric 
borrower which is the result of a merger or consolidation involving any 
of these 29 former borrowers and a borrower with outstanding Notes may, 
after meeting all requirements of this subpart, prepay all outstanding 
RUS Notes issued or assumed by the borrower upon paying the lesser of 
the outstanding balance or the Discounted Present Value. Such prepayment 
must be made not later than one year after the effective date of the 
merger or consolidation.