Post-Loan Policies and Procedures for Insured Electric Loans

Rural Utilities Service, USDA.

Proposed rule.

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As a part of its ongoing program of streamlining regulations, the Rural Utilities Service (RUS) is proposing to amend its regulation on the advance of funds to reflect an increase in the threshold limit from $25,000 to $100,000, for which plant investments may be made in the borrowers' systems and be eligible for insured loan fund financing without being included in an RUS approved construction work plan (CWP). In addition, RUS is proposing to no longer limit borrowers to 130 percent of the project cost estimate for projects in the CWP or amendment and approved loan, as amended, for which prior RUS approval must be obtained. These changes would have the effect of reducing the number of actions by borrowers that would otherwise be required and would reduce administrative costs to borrowers and to the agency. In the final rule section of this Federal Register, RUS is publishing this action as a direct final rule without prior proposal because RUS views this as a noncontroversial action and anticipates no adverse comments. If no adverse comments are received in response to the direct final rule, no further action will be taken on this proposed rule and the action will become effective at the time specified in the direct final rule. If RUS receives adverse comments, a document will be published withdrawing the direct final rule and all public comments received will be addressed in a subsequent final rule based on this action. Any parties interested in commenting on this action should do so at this time.

Comments on this proposed action must be received on or before January 27, 2000.

Written comments should be sent to F. Lamont Heppe, Jr., Director, Program Development and Regulatory Analysis, U.S. Department of Agriculture, Rural Utilities Service, 1400 Independence Ave., SW., Washington, DC 20250-1522. RUS requires a signed original and three copies of all comments (7 CFR 1700.4). Comments will be available for public inspection during regular business hours (7 CFR 1.27(b)).

FOR FURTHUR INFORMATION CONTACT: Charles M. Philpott, Chief, Engineering Branch, Northern Regional Division, U.S. Department of Agriculture, Rural Utilities Service, Room 4034 South Bldg., 1400 Independence Ave., SW., Washington, DC 20250-1522. Telephone: (202) 720-1432. E-mail: cphilpot@rus.usda.gov.