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Excerpt from 1975 Budget Explanatory Notes, Vol. 3 The Rural Electrification Administration was established by Executive Order 7037 on May 11, 1935, to make loans for the extension of central station electric ser vice to unserved rural people. Statutory provision for the agency was made in the Rural Electrification Act of May 20, 1936. Rea became a part of the Department of Agriculture on July 1, 1939, under Reorganization Plan 11. On October 28, 1949, Public Law 423 amended the Act to authorize loans for the furnishing of rural telephone service. Through calendar year 1972, rea made direct loans for electric and telephone con struction on a self-liquidating basis for periods not exceeding 35 years at a statutory two percent interest rate. Loans were also made for shorter periods at two percent interest to electric borrowers for wiring premises and the acquisition and installation of electrical and plumbing appliances and equipment. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.