[Federal Register Volume 63, Number 221 (Tuesday, November 17, 1998)]
[Notices]
[Page 63833]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-30671]


-----------------------------------------------------------------------

DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service


Maximum Dollar Amount on Loan and Grant Awards Under the Rural 
Economic Development Loan and Grant Program for Fiscal Year 1999

AGENCY: Rural Business-Cooperative Service, USDA.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Rural Business-Cooperative Service (RBS) hereby announces 
the maximum dollar amount on loan and grant awards under the Rural 
Economic Development Loan and Grant (REDLG) program for Fiscal Year 
(FY) 1999. The maximum dollar award on zero-interest loans for FY 1999 
is $450,000. The maximum dollar award on grants for FY 1999 is 
$330,000. The maximum loan and grant awards stated in this notice are 
effective for loans and grants made during the fiscal year beginning 
October 1, 1998, and ending September 30, 1999. REDLG loans and grants 
are available to Rural Utilities Service electric and telephone 
utilities to assist in developing rural areas from an economic 
standpoint.

FOR FURTHER INFORMATION CONTACT: Patricia Wing, Loan Specialist, Rural 
Business-Cooperative Service, USDA, STOP 1521, Room 6870, 1400 
Independence Avenue, SW, Washington, DC 20250, Telephone: (202) 720-
9558. FAX: (202) 720-6561. E-mail: PW[email protected].

SUPPLEMENTARY INFORMATION: The maximum loan and grant awards are 
calculated as 3.0 percent of the projected program level for zero-
interest loans and grants during the fiscal year. The projected program 
level for zero-interest loans during FY 1999 is $15,000,000, and the 
projected program level for grants is $11,000,000. Applying the 
specified 3.0 percent to these program levels results in the maximum 
loan award of $450,000 and the maximum grant award of $330,000.

    Dated: November 6, 1998.
Dayton J. Watkins,
Administrator, Rural Business-Cooperative Service.
[FR Doc. 98-30671 Filed 11-16-98; 8:45 am]
BILLING CODE 3410-XY-P