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Federal Register / Vol. 86, No. 129 / Friday, July 9, 2021 / Rules and Regulations
7 CFR Part 1717
Administrative practice and procedure, Electric power, Electric power rates, Electric utilities, Intergovernmental relations, Investments, Loan programsenergy, Reporting and recordkeeping requirements, Rural areas.
7 CFR Part 1718
Administrative practice and procedure, Electric power, Electric utilities, Loan programsenergy, Reporting and recordkeeping, Rural areas.

1710.251 Construction work plans distribution borrowers.

1. The authority citation for part 1710
continues to read as follows:

b A distribution borrowers CWP
shall typically cover a construction period of 4 years and includes all facilities to be constructed which are eligible for RUS financing, whether or not RUS financial assistance will be sought or be available for certain facilities.
c
7 Outdoor lights;

11 To be eligible for financing, such equipment must be owned by the borrower, although it may be located inside or outside a consumers premises;
12 The cost of engineering, architectural, environmental, and other studies and plans needed to support the construction of facilities, when such cost is capitalized as part of the cost of the facilities; and 13 Other items that are specifically determined by RUS as being eligible for financing prior to inclusion in the CWP.
4. Amend 1710.252b by revising the first sentence to read as follows:

Authority: 7 U.S.C. 901 et seq., 1921 et seq., 6941 et seq.

1710.252 Construction work plans power supply borrowers.

7 CFR Part 1721
Electric power, Loan programs energy, Rural areas.
7 CFR Parts 1726 and 1730
Electric power, Loan programs energy, Reporting and recordkeeping requirements, Rural areas.
7 CFR Part 1767
Electric power, Loan programs energy, Rural areas, Uniform System of Accounts.
For the reasons set forth in the preamble, RUS amends 7 CFR parts 1710, 1714, 1717, 1718, 1721, 1726, 1730, and 1767 as follows:
PART 1710GENERAL AND PRELOAN POLICIES AND PROCEDURES
COMMON TO ELECTRIC LOANS AND
GUARANTEES

2. Amend 1710.109 by revising paragraph c to read as follows:

b Typically a power supply borrowers CWP shall cover a period of 4 years.

1710.109 Reimbursement of general funds and interim financing.

Subpart IApplication Requirements and Procedures for Loans
Subpart CLoan Purposes and Basic Policies

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a. Revising the first sentence of paragraph b;
b. Revising paragraph c7;
c. Revising the last sentence of paragraph c11;
d. Revising paragraph c12; and e. Adding paragraph c13.
The revisions and addition read as follows:

c The period immediately preceding the current loan period for which reimbursement and replacement of interim financing is authorized under paragraph b of this section is 48
months. Policies for reimbursement of general funds and interim financing following certain mergers, consolidations, and transfers of systems substantially in their entirety are set forth in 7 CFR 1717.154.

Subpart FConstruction Work Plans and Related Studies

3. Amend 1710.251 by:

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5. Amend 1710.501 by revising paragraph a3 introductory text to read as follows:

1710.501

Loan application documents.

a
3 RUS Form 740c, Cost Estimates and Loan Budget for Electric Borrowers.
This form together with its attachments lists the construction, equipment, facilities, and other cost estimates from the construction work plan or engineering and cost studies. The projects and related costs, included on this form, shall be used to justify the loan amount and are not meant to be an
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exclusive list of those projects that could receive funds under this loan. In addition, to be included on this form, the project must have received written documentation of RUS concluding its environmental review. The advance of loan funds for projects shall be governed by 7 CFR part 1721. The date on page one 1 of the RUS Form 740c is the beginning date of the loan period. RUS
Form 740c also includes the following information, exhibits, and attachments:

PART 1714PRE-LOAN POLICIES
AND PROCEDURES FOR INSURED
ELECTRIC LOANS
6. The authority citation for part 1714
continues to read as follows:

Authority: 7 U.S.C. 901 et seq.; 1921 et seq.; and 6941 et seq.

Subpart BTerms of Insured Loans 7. Amend 1714.56 by revising paragraphs a and b to read as follows:

1714.56

Fund advance period.

a The fund advance period begins on the date of the loan note and will last no longer than five years after September 30 of the fifth year after the fiscal year of obligation. The fiscal year of obligation is identified in loan documentation associated with each loan. The Administrator may extend the fund advance period on any loan if the borrower meets the requirements of paragraph b of this section. However, under no circumstances shall the RUS
ever make or approve an advance, regardless of the last day for an advance on the loan note or any extension by the Administrator, later than September 30
of the fifth year after the fiscal year of obligation if such date would result in the RUS obligating or permitting advance of funds contrary to the Antideficiency Act, 31 U.S.C. 1341.
b The Administrator may agree to an extension of the fund advance period for loans if the borrower demonstrates, to the satisfaction of the Administrator, that the loan funds continue to be needed for approved loan purposes i.e., facilities included in a RUS approved construction work plan. Policies for extension of the fund advance period following certain mergers, consolidations, and transfers of systems substantially in their entirety are set forth in 7 CFR 1717.156.

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