[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] ----------------------------------------------------------------------- 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