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Federal Register / Vol. 86, No. 129 / Friday, July 9, 2021 / Rules and Regulations PART 1717POST-LOAN POLICIES
AND PROCEDURES COMMON TO
INSURED AND GUARANTEED
ELECTRIC LOANS
8. The authority citation for part 1717
continues to read as follows:

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

Subpart DMergers and Consolidations of Electric Borrowers 1717.154

1717.616 Sale, lease, or transfer of capital assets.

Amended
9. Amend 1717.154c1 by removing the number 24 in the second sentence and adding 48 in its place.

Subpart MOperational Controls 10. Amend 1717.604 by revising paragraphs b and c to read as follows:

1717.604 Long-range engineering plans and construction work plans.

b Applications for financing from RUS must be supported by a CWP
approved by RUS.
c RUS approval is not required for CWPs if the borrower does not intend to seek RUS financing for any of the facilities, equipment, or other purposes included in those plans. However, if requested by RUS, a borrower must provide an informational copy of such plans to RUS.
11. Amend 1717.608 by revising paragraphs b and c1 to read as follows:
1717.608

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b Large retail power contracts. RUS
is required to be notified of contracts to sell electric power to retail customers if the contract is for longer than 5 years and the kWh sales or kW demand for any year covered by the contract exceeds 25 percent of the borrowers total kWh sales or maximum kW
demand for the year immediately preceding execution of the contract. The requirement in this paragraph b applies regardless of the source of funding of any plant extensions, additions or improvements that may be involved in connection with the contract.
c
1 Power supply contracts including but not limited to economy energy sales and emergency power and energy sales, interconnection agreements, interchange agreements, wheeling agreements, pooling agreements, and any other similar power supply arrangements subject to approval by RUS are deemed
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A borrower may, without the prior approval of RUS, sell, lease, or transfer any capital asset if the following conditions are met:

b In the most recent year for which data is available, the borrower has met its coverage ratios as set in 7 CFR part 1710.114b or other financial requirements as established by their Mortgages, Loan Contracts, and/or other Security Agreements;

Subpart RLien Accommodations and Subordinations for 100 Percent Private Financing 1717.854

Amended
13. Amend 1717.854c2 by removing the number 27 and adding 20 in its place.

PART 1718LOAN SECURITY
DOCUMENTS FOR ELECTRIC
BORROWERS
14. The authority citation for part 1718 continues to read as follows:

RUS approval of contracts.

VerDate Sep<11>2014

approved if they have a term of 5 years or less. Amendments to said power supply arrangements are also deemed approved provided that the amendment does not extend the term of the arrangement for more than 5 years beyond the date of the amendment.

12. Amend 1717.616 by revising the introductory text and paragraph b to read as follows:

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

Subpart BMortgage for Distribution Borrowers 1718.54

Amended
15. Amend 1718.54 introductory text by removing Administrative Services Division.

Appendix A to Subpart B Removed

16. Remove appendix A to subpart B.

Subpart CLoan Contracts With Distribution Borrowers Appendix A to Subpart C Removed

17. Remove appendix A to subpart C.

PART 1721POST-LOAN POLICIES
AND PROCEDURES FOR INSURED
ELECTRIC LOANS
18. The authority citation for part 1721 continues to read as follows:

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

Subpart AAdvance of Funds 19. Amend 1721.1 by revising paragraph a to read as follows:

1721.1

Advances.

a Purpose and amount. With the exception of minor projects which are addressed in paragraph b of this section and generation projects which need to be included on a RUS Form 740c or an amendment to a RUS Form 740c, loan funds will be advanced for projects which are included in a RUS
approved construction work plan CWP, Energy Efficiency and Conservation Program work plan EEWP, or approved amendment to either, have received written documentation of RUS concluding its environmental reviews and have complied with all Contracting and Bidding Procedures included in 7 CFR
part 1726. Loan fund advances can be requested in an amount representing actual costs incurred.

PART 1726ELECTRIC SYSTEM
CONSTRUCTION POLICIES AND
PROCEDURES
20. The authority citation for part 1726 continues to read as follows:

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

Subpart AGeneral 21. Amend 1726.35 by revising paragraphs a, c introductory text, c3, and d to read as follows:

1726.35
RUS.

Submission of documents to
a Where to send documents.
Documents required to be submitted to RUS under this part are to be sent electronically to RUS, unless otherwise directed.

c Contracts requiring RUS approval.
The borrower shall submit to RUS, one copy of each contract that is subject to RUS approval under subparts B through F of this part. Any contract submitted by the borrower contract must be accompanied by:

3 One copy of an executed contractors bond on RUS approved bond forms as required in the contract form and one copy of the bid bond or copy of the certified check.

d Contract amendments requiring RUS approval. The borrower must
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