Page:United States Statutes at Large Volume 107 Part 2.djvu/414

 107 STAT. 1366 PUBLIC LAW 103-129—NOV. 1, 1993 7 USC 2008e. Regulations. "(3) FEE.— ^A borrower that exercises the maximum rate option under paragraph (1) shall, at the time of exercising such option, pay a fee eqvial to 1 percent of the outstanding principal balance of such loan or loan advance, or portion thereof, for which such option is exercised. Such fee shall be in addition to the penalties and other payments required under subsection (b). "(4) SUNSET.— The option provided under paragraph (1) shall not be available in the case of any loan or loan advance, or portion thereof, unless a written request to exercise such option is sent to the Administrator not later than 1 year after the effective date of regulations issued to carry out the Rural Electrification Loan Restructuring Act of 1993.". SEC. 3. EXPANDED ELIGmiLITY FOR LOANS FOR WATER AND WASTE DISPOSAL FACnJTIES. Section 306(a)(1) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1926(a)(l)) is amended by inserting after the first sentence the following new sentence: "The Secretary may also make loans to any borrower to whom a loan has been made under the Rural Electrification Act of 1936 (7 U.S.C. 901 et seq.), for the conservation, development, use, and control of water, and the installation of drainage or waste disposal facilities, primarily serving farmers, ranchers, farm tenants, farm laborers, rural businesses, and other rural residents.". SEC. 4. RURAL ECONOMIC DEVELOPMENT. Section 364 of the Consolidated Farm and Rural Development Act (7 U.S.C. 2006f) is amended by adding at the end the following new subsection: "(g) RURAL ECONOMIC DEVELOPMENT. — "(1) IN GENERAL. — ^A borrower of a loan or loan guarantee under the Rural Electrification Act of 1936 (7 U.S.C. 901 et seq.) shall be eligible for assistance under all programs administered by the Rural Development Administration. "(2) PARTICIPATION.— The Administrator of the Rural Development Administration shall encourage and facilitate the full and equal participation of all entities to participate in programs administered by the Rural Development Administration.". SEC. S. PROHIBrnON UNDER RURAL DEVELOPMENT PROGRAMS. The Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et seq.) is amended by adding at the end thereof the following new section: "SEC. 370. PROHIBrnON UNDER RURAL DEVELOPMENT PROGRAMS. "(a) PROHIBITION.—Assistance under any rural development program administered by the Rural Development Administration, the Farmers Home Administration, the Rural Electrification Administration, or any other agency of the Department of Agriculture shall not be conditioned on any requirement that the recipient of such assistance accept or receive electric service from any particular utility, supplier, or cooperative. "(b) ENSURING (JOMPLIANCE.—The Secretary shall establish, by regulation, adequate safeguards to ensure that assistance under such rural development programs is not subject to such a condition. Such safeguards shall mclude periodic certifications and audits.

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