Supplemental Financing of REA Programs: Hearings, Eighty-ninth Congress, Second Session, on S. 3337, S. 3720, and a Draft Bill Proposed by the Department of Agriculture
United States. Congress. Senate. Committee on Agriculture and Forestry. Subcommittee on Agricultural Credit and Rural Electrification
U.S. Government Printing Office, 1966 - 587 pages
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able additional Administrator Agriculture amended amount ANDERSON annual applications appropriations areas Association authority average believe bill Board borrowers capital Chairman CLAPP Class co-ops committee companies Congress construction consumers continue cost customers debentures determine develop difference distribution effect Electric Bank electric systems Electrification established existing facilities fact farm farmers Federal figure financing follows funds going Government increased industry interest intermediate investment investor-owned legislation limitation lines loans means meet mile million objectives obtain operation organization paid percent persons plant Power Company present President proposed purchase question reasonable receiving record retired rural areas rural electric cooperatives Secretary Senator COOPER Senator ELLENDER Senator HOLLAND Senator MILLER Senator TALMADGE serve sources statement supplemental supply Telephone Bank tion transmission Treasury United utility
Page 301 - Territories, and subdivisions and agencies thereof, municipalities, peoples' utility districts and cooperative, nonprofit, or limit-dividend associations organized under the laws of any State or Territory of the United States, for the purpose of financing the construction and operation of generating plants, electric transmission and distribution lines or systems for the furnishing of electric energy to persons in rural areas who are not receiving central station service, ..." Section 5 of the Act...
Page 9 - ... is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of such notes and obligations.
Page 266 - farmers', fruit growers', or like associations organized and operated on a cooperative basis (A) for the purpose of marketing the products of members or other producers, and turning back to them the proceeds of sales, less the necessary marketing expenses...
Page 26 - States, and such guaranty shall be expressed on the face thereof, and such bonds shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Page 107 - Provided further, That no loan for the construction, operation, or enlargement of any generating plant shall be made unless the consent of the State authority having jurisdiction in the premises is first obtained.
Page 266 - Farmers' or other mutual hail, cyclone, or fire insurance companies, mutual ditch or irrigation companies, mutual or cooperative telephone companies, or like organizations of a purely local character, the income of which consists solely of assessments, dues, and fees collected from members for the sole purpose of meeting expenses...
Page 266 - Benevolent life insurance associations of a purely local character, mutual ditch or irrigation companies, mutual or cooperative telephone companies, or like organizations; but only if 85 per centum or more of the income consists of amounts collected from members for the sole purpose of meeting losses and expenses; (11) Farmers...
Page 100 - Interest on loans made under this section shall be at a rate not less than (i) a rate determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the average maturities of such loans adjusted to the nearest one-eighth of 1 per centum, plus (ii) an allowance adequate in the judgment of the Secretary of Transportation to cover administrative costs and...
Page 254 - Subchapter L (relating to insurance companies) , or (C) Which is engaged In furnishing electric energy, or providing telephone service, to persons In rural areas. (b) Tax on certain farmers