Rural Electrification Administration

Rural Electrification Administration To carry into effect the provisions of the Rural Electrification Act of 1936, as emended (7 U.S.C. 901–950 (b)), as follows: rural electrification and telephone revolving fund loan authorizations Insured loans pursuant to the authority of section 305 of the Rural Electrification Act of 1936, as amended (7 U.S.C. 935), shall be made as follows: rural electrification loans, not less than $750,000,000, nor more than $900,000,000, and rural telephone loans, not less than $250,000,000, to remain available until expended: Provided, That loans made pursuant to section 306 of that Act are in addition to these amounts. rural telephone bank For the purchase of Class A stock of the Rural Telephone Bank, $30,000,000, to remain available until expended (7 U.S.C. 901–950 (b)). The Rural Telephone Bank is hereby authorized to make such expenditures, within the limits of funds and borrowing authority available to such corporation in accord with la w, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act, as amended, as may be necessary in carrying out its authorized programs for the current fiscal year. salaries and expenses For administrative expenses to carry out the provisions of the. Rural Electrification Act of 1936, as amended (7 U.S.C. 901–950 (b)), includ-90 STAT. 862ing not to exceed $500 for financial and credit reports, funds for employment pursuant to the second sentence of section 706(a) of the Organic Act of 1944 (7 U.S.C. 2225), and not to exceed $150,000 for employment under 5 U.S.C. 3109, $21,350,000.