(a) No consideration of borrower’s level of general fundsThe Secretary shall not deny or reduce any loan or loan advance under this chapter based on a borrower’s level of general funds.
(b) Loan origination feesThe Secretary may not charge any fee or charge not expressly provided in this chapter in connection with any loan made or guaranteed under this chapter.
(c) Consultants(1) In generalTo facilitate timely action on applications by borrowers for financial assistance under this chapter and for approvals required of the Rural Electrification Administration pursuant to the terms of outstanding loan or security instruments or otherwise, the Secretary may use consultants funded by the borrower, paid for out of the general funds of the borrower, for financial, legal, engineering, and other technical advice and services in connection with the review of the application by the Rural Electrification Administration.
(2) Conflicts of interestThe Secretary shall establish procedures for the selection and the provision of technical services by consultants to ensure that the consultants have no financial or other conflicts of interest in the outcome of the application of the borrower.
(3) Payment of costsThe Secretary may not, without the consent of the borrower, require, as a condition of processing an application for approval, that the borrower agree to pay the costs, fees, and expenses of consultants hired to provide technical or advisory services to the Secretary.
(4) Contracts, grants, and agreementsThe Secretary may enter into such contracts, grants, or cooperative agreements as are necessary to carry out this section.
(5) Use of consultantsNothing in this subsection shall limit the authority of the Secretary to retain the services of consultants from funds made available to the Secretary or otherwise.
Structure US Code
CHAPTER 31— RURAL ELECTRIFICATION AND TELEPHONE SERVICE
SUBCHAPTER I— RURAL ELECTRIFICATION
§ 902. General authority of Secretary of Agriculture
§ 903. Authorization of appropriations
§ 904. Loans for electrical plants and transmission lines
§ 905. Fees for certain loan guarantees
§ 906. Funding for administrative expenses
§ 906a. Use of funds outside the United States or its territories prohibited
§ 907. Acquisition of property pledged for loans; disposition; sale of pledged property by borrower
§ 908. Limitations on use of assistance
§ 912. Extension of time for repayment of loans
§ 912a. Rescheduling and refinancing of loans
§ 915. Purchase of financial and credit reports
§ 917. Prohibition on restricting water and waste facility services to electric customers
§ 918b. Acquisition of existing systems in rural communities with high energy costs