118 STAT. 2832 PUBLIC LAW 108–447—DEC. 8, 2004 RURAL TELEPHONE BANK PROGRAM ACCOUNT (INCLUDING TRANSFER OF FUNDS) The Rural Telephone Bank is hereby authorized to make such expenditures, within the limits of funds available to such corpora tion in accord with law, and to make such contracts and commit ments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act, as may be necessary in carrying out its authorized programs. During fiscal year 2005 and within the resources and authority available, gross obligations for the principal amount of direct loans shall be $175,000,000. In addition, for administrative expenses, including audits, nec essary to carry out the loan programs, $3,152,000, which shall be transferred to and merged with the appropriation for ‘‘Rural Development, Salaries and Expenses’’. DISTANCE LEARNING, TELEMEDICINE, AND BROADBAND PROGRAM For the principal amount of direct distance learning and tele medicine loans, $50,000,000; and for the principal amount of direct broadband telecommunication loans, $550,000,000. For the cost of direct loans and grants for telemedicine and distance learning services in rural areas, as authorized by 7 U.S.C. 950aaa et seq., $35,710,000, to remain available until expended, of which $710,000 shall be for direct loans: Provided, That the cost of direct loans shall be as defined in section 502 of the Congres sional Budget Act of 1974: Provided further, That $10,000,000 shall be made available to convert analog to digital operation those noncommercial educational television broadcast stations that serve rural areas and are qualified for Community Service Grants by the Corporation for Public Broadcasting under section 396(k) of the Communications Act of 1934, including associated translators and repeaters, regardless of the location of their main transmitter, studio to transmitter links, and equipment to allow local control over digital content and programming through the use of high definition broadcast, multi casting and datacasting technologies. For the cost of broadband loans, as authorized by 7 U.S.C. 901 et seq., $11,715,000, to remain available until September 30, 2006: Provided, That the interest rate for such loans shall be the cost of borrowing to the Department of the Treasury for obliga tions of comparable maturity: Provided further, That the cost of direct loans shall be as defined in section 502 of the Congressional Budget Act of 1974. In addition, $9,000,000, to remain available until expended, for a grant program to finance broadband transmission in rural areas eligible for Distance Learning and Telemedicine Program benefits authorized by 7 U.S.C. 950aaa.
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