Supplemental Financing of REA Programs: Hearings Before a Subcommittee of ..., 89-2 on S. 3337, S. 3720 ..., August 15 ... 19, 1966 |
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... loan account : “ ( 2 ) undisbursed balances of electrification loans made under sections 4 and 5 , which , as of the effective date of this title , shall be transferred to and be assets of the REA electrification loan account ; " ( 3 ) ...
... loan account : “ ( 2 ) undisbursed balances of electrification loans made under sections 4 and 5 , which , as of the effective date of this title , shall be transferred to and be assets of the REA electrification loan account ; " ( 3 ) ...
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... loans , in con- formance with policies established by him , to corporations or public bodies which have received a loan or loan commitment pursuant to section 4 of this Act , or which are owned or controlled by organizations which have ...
... loans , in con- formance with policies established by him , to corporations or public bodies which have received a loan or loan commitment pursuant to section 4 of this Act , or which are owned or controlled by organizations which have ...
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... loan account ; " ( 2 ) undisbursed balances of telephone loans made under section 201 , which , as of the effective date of this title , shall be transferred to and be assets to the REA telephone loan account ; " ( 3 ) all collections ...
... loan account ; " ( 2 ) undisbursed balances of telephone loans made under section 201 , which , as of the effective date of this title , shall be transferred to and be assets to the REA telephone loan account ; " ( 3 ) all collections ...
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... loan account . " SEC . 502. LIABILITIES AND USES OF LOAN ACCOUNT .— ( a ) The notes of the Administrator issued to the Secretary of the Treasury to obtain funds for loans under section 201 of this Act , and all other liabilities against ...
... loan account . " SEC . 502. LIABILITIES AND USES OF LOAN ACCOUNT .— ( a ) The notes of the Administrator issued to the Secretary of the Treasury to obtain funds for loans under section 201 of this Act , and all other liabilities against ...
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... loans under section 610 of this Act . Borrowers receiving loan funds pursuant to section 610 shall be required to invest in class B stock 5 per centum of the amount of loan funds so provided , and all borrowers shall be entitled to ...
... loans under section 610 of this Act . Borrowers receiving loan funds pursuant to section 610 shall be required to invest in class B stock 5 per centum of the amount of loan funds so provided , and all borrowers shall be entitled to ...
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Expressions et termes fréquents
$50 million 2-percent acquisition Agriculture Alabama Alabama Power Company amended amount ANDERSON appropriate authority average bill capital central station Chairman CLAPP Class A stock co-ops committee Congress consumers cost debentures dividends Edison Electric Institute electric and telephone Electric Bank Board electric service Farm Credit Farm Credit Administration farmers Federal Electric Bank Federal Telephone Bank interest rate intermediate loans investment investor-owned utilities kilowatt kilowatt-hours legislation limited lines loan funds loan program operation payments percent plant Power Company private utilities proposed purchase purposes REA borrowers REA loans REA telephone REA's retired revenues rural areas rural electric cooperatives rural electric systems Rural Electrification Act Rural Electrification Administration rural telephone Secretary FREEMAN Senator COOPER Senator ELLENDER Senator HOLLAND Senator MILLER Senator MONRONEY Senator TALMADGE serve statement subcommittee subsidy supplemental financing supply Telephone Bank Board tion Treasury U.S. SENATOR United
Fréquemment cités
Page 437 - bank" bill or otherwise — becomes so important. We recognize, however, that the reader of this letter might not understand or agree with us that it is important and might have a number of fair questions to ask. We will anticipate several of these questions and attempt to answer them ahead of time : Question No. 1 Why do you say that the tax shelter weapon is so important— isn't the reason for the difference the fact that the co-ops are nonprofit associations? The answer to this question can become...
Page 453 - T5EA financed cooperatives, under threat of immediate duplication of our facilities by systems financed with federal money in the form of outright grants and loans at a very low rate of interest. Despite this experience we, from the beginning, made every effort to assist the cooperatives that were organized in Southeast Mississippi in providing electric service to the rural area. We established our first delivery points to REA financed electric cooperatives in 1938. As these six cooperatives mentioned...
Page 403 - ... result of these efforts of the Company and cooperatives, almost every person in Northwest Florida actually desiring electric service is supplied. Several years ago with most of the persons in rural areas supplied with electric service, the REA controlled cooperatives began to deviate from the purposes for which they were created by Congress. I would like to recite three occurrences in Northwest Florida which conflict with the intent which the late Speaker Sam Rayburn expressed in urging the passage...
Page 435 - ... preference in the form of Federally subsidized financing and freedom from taxes. The annual Statistical Report on Rural Electrification Borrowers for 1964 shows the 18 Arkansas cooperatives as a group to be in sound financial condition. Certainly, most of them should be in a position at this time to borrow money for their reasonable needs on the open market We believe that, before any move is made, careful study should be given to the question of whether existing lending agencies set up under...
Page 335 - It is felt that a favorable recommendation on the bills now before this Honorable Committee will enable them to do so. Mr. Chairman and Members of this Committee, we again thank you for the privilege you have accorded us in permitting our appearance to testify. It is hoped that our testimony may prove to be helpful to the committee in its deliberations. Mr. PETERSON.
Page 419 - We are not in this bill intending to go out and compete with anybody. By this bill, we hope to bring electricity to people who do not now have it. This bill was not written on the theory that we are going to...
Page 379 - ... systems, including investor and municipally owned systems? 2. Will the metropolitan populations, with their pressing problems be asked to continue to pay 20 and more percent of their electric service bills in support of government, while this privileged group of electric cooperative customers continues to pay only a fraction of that amount? 3. Is the other half of rural America, which is served by...
Page 371 - ... Utilities Co. served the city of Paris, at retail, from 1923 to 1932. In 1932, the city installed generating facilities from which it presently supplies about three-fourths of the customers in that city. My company continued to supply the remaining one-fourth, about 700 consumers in Paris, a municipality with population of about 7,900. It has been apparent for several years that the city's generating facilities at Paris would soon become inadequate and the city woulcl need an additional source...
Page 381 - ... of debt to ownership investment and lower margins of earnings over interest charges are commonly regarded as adequate to meet the standards of the investment bond market. The following recommendations with respect to security provisions that appear desirable to achieve one or both of the objectives stated at the outset are : 1. Because electric utility property is choice security, it might be possible to increase the permitted ratio of electric debentures from "ten times the paid-in capital...
Page 431 - ... money would continue to be provided to those cooperatives that are unable to operate at a profit, but such legislation should also provide that future loans to cooperatives for replacement and expansion of existing facilities would be made at the current interest cost of the participation certificates plus a small charge for administration. If. instead of these alternatives, it is decided that a Bank must be established to provide the capital estimated to be needed by the REA electric systems...