Title 7, AgricultureRelease 119-73not60
§950cc–2 Use of Loan Proceeds to Refinance Loans for Deployment of Broadband Service
Title 7 › Chapter 31— RURAL ELECTRIFICATION AND TELEPHONE SERVICE › Subchapter VII— GENERAL AND ADMINISTRATIVE PROVISIONS › § 950cc–2
Summary
Even if other parts of the law say otherwise, money from a loan the Secretary makes or guarantees can be used to refinance a borrower's existing telecommunications loan. It can also refinance any other loan that would have qualified under this law for a telecommunications purpose.
Full Legal Text
Title 7, §950cc–2
Agriculture, Source: USLM XML via OLRC
Notwithstanding any other provision of this chapter, the proceeds of any loan made or guaranteed by the Secretary under this chapter may be used by the recipient of the loan for the purpose of refinancing an outstanding obligation of the recipient on another telecommunications loan made under this chapter, or on any other loan if that loan would have been for an eligible telecommunications purpose under this chapter.
Reference
Citations & Metadata
Citation
7 U.S.C. § 950cc–2
Title 7, Agriculture
Last Updated
Apr 3, 2026
Release point: 119-73not60