It is hereby declared to be the policy of the Congress that the Rural Telephone Bank should have the capability of obtaining adequate funds for its supplementary financing program at the lowest possible costs. In order to effectuate this policy, it will be necessary to expand the market for debentures to be issued by the Telephone Bank.

(Pub. L. 92–324, § 1, June 30, 1972, 86 Stat. 390.)

Codification

The last sentence of section 1 of Pub. L. 92–324 provided that:

“The Rural Electrification Act of 1936, as amended (

7 U.S.C. 901–950(b)), is therefore further amended as hereinafter provided.”

Section was not enacted as part of the title II of the Rural Electrification Act of 1936 which comprises this subchapter.

Effective Date

Pub. L. 92–324, § 4, June 30, 1972, 86 Stat. 390, provided that:

“This Act [enacting this section, amending

section 947 of this title, and enacting provisions set out as a note under this section] shall take effect upon enactment [

June 30, 1972].”

Reservation of Right To Repeal, Alter, or Amend Pub. L. 92–324

Pub. L. 92–324, § 3, June 30, 1972, 86 Stat. 390, provided that:

“The right to repeal, alter, or amend this Act [enacting this section, amending

section 947 of this title, and enacting provisions set out as a note under this section] is expressly reserved.”