[Federal Register Volume 62, Number 155 (Tuesday, August 12, 1997)]
[Notices]
[Page 43142]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-21190]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service


Refinancing Water and Wastewater Loans

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice.

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SUMMARY: This notice describes the Rural Utilities Service's Water and 
Wastewater (WW) loan program refinancing policies, informs commercial 
lenders of the availability of a list of eligible WW borrowers that 
have the potential to refinance outstanding debt, and invites 
commercial credit sources to participate in refinancing loans from the 
Agency's portfolio.

FOR FURTHER INFORMATION CONTACT:
Deanna Plauche' Loan Specialist, Rural Utilities Service, USDA, Room 
2238, South Agriculture Building, 1400 Independence Ave., S.W., 
Washington, D.C. 20250, Telephone: (202) 720-9635.

SUPPLEMENTARY INFORMATION: The Agency provides credit to public 
entities such as municipalities, counties, special-purpose districts, 
Indian tribes, tribal organizations and nonprofit corporations. The 
eligible WW loan purposes are to construct, enlarge, extend, or 
otherwise improve water and wastewater systems. The Agency's credit 
programs are administered in a manner which ensures that they do not 
compete with credit available from other reliable sources. Loan 
agreements require financially capable borrowers to refinance debts 
owed to the Agency when other credit is available at reasonable rates 
and terms from a cooperative or private credit source.
    The Agency would like to further develop its public/private 
partnerships while enhancing its refinancing efforts. As part of these 
efforts, each Rural Development State office, which administers the WW 
program in the field, will maintain a current listing of borrowers that 
have the potential to refinance. The Agency requests that any 
interested lenders contact the State office in each State for the 
current list of borrowers with potential to graduate. The Agency has 
developed a unified database of lenders interested in this refinancing 
initiative as part of the ongoing effort to establish a stronger 
alliance with private sector lenders. Each interested lender should 
submit its name and address to the State office located in its residing 
State. Each State office is required to provide a copy of its current 
lender list annually to the National office for compilation of a 
nationwide database. This list should be submitted to the National 
office by October 1, of each year.

    Dated: July 31, 1997.
John Romano,
Deputy Administrator, Water and Wastewater.
[FR Doc. 97-21190 Filed 8-11-97; 8:45 am]
BILLING CODE 3410-15-M