Source: http://azrefs.org/rd-instruction-1942-a-table-of-contents.html?page=4
Timestamp: 2019-03-25 21:03:56
Document Index: 651385522

Matched Legal Cases: ['art 1901', '§ 1942', '§ 1942', '§ 1942', '§ 1942', 'art 1901']

9 (Revision 6) - Rd instruction 1942-a table of Contents
səhifə 4/66
(3) The Chief, Community Programs or Community and Business Programs, will review the assembled application and include in the automated Community Facilities Project Summary a written analysis and recommendations, including the availability of other credit and other eligibility determinations. The draft Letter of Conditions will be reviewed and any necessary modifications made. (Revised
03-19-03, PN 357.)
(b) Project requiring National Office review. Prior National Office review is required for certain proposals. (See subpart A of part 1901 of this chapter.)
(1) The Rural Development Manager should assemble applications for the National Office review in the following order, from top to bottom, and forward them to the State Director for review and recommendation prior to submission to the National Office:
(i) Transmittal memorandum including:
(A) Recommendation.
(B) Date of expected obligation.
(C) Any unusual circumstances.
(A) Proposed Letter of Conditions.
(B) Applicable State Intergovernmental Review comments.
(RD Instruction 1970-I, available in any Rural Development office.) (Revised 01-18-12, SPECIAL PN.)
(C) A copy of the automated Community Facilities Project Summary. (Revised 03-19-03, PN 357.)
(D) Preliminary architectural or engineering report.
(Renumbered 04-02-98, SPECIAL PN.)
(E) Form RD 442-3, "Balance Sheet," or a financial statement or audit that includes a balance sheet.
(F) For other essential community facility loan applicants whose proposals do not meet the assured income or tax-based security requirements of
§ 1942.5(b)(1)(ii)(F) (Con.)
§ 1942.17(g)(2)(iii) and (g)(3)(iii) of this subpart, financial information for the last 5 years of operation will be submitted if available. The type of financial information to be submitted should be determined based on what is available, in the following order of preference: (Renumbered 04-02-98, SPECIAL PN.)
(1) Complete audits.
(2) Unaudited financial statements, including balance sheets and statements of income and expenses.
(3) Lists of income and expenses. (Revised
03-01-88, SPECIAL PN.)
(G) For other essential community facility loans secured under paragraph (b)(l)(ii)(F) of this section, submit a detailed explanation of the proposed security, evidence that the application cannot be processed and the loan secured under paragraph (b)(l)(ii)(F) of this section, evidence supporting the efforts by the applicant in persuading appropriate public bodies to provide the proposed facility and services, and the results and comments of the Regional Attorney concurring in the applicant's legal authority to give the proposed security. (Revised and renumbered 04-02-98, SPECIAL PN.)
(H) Financial Feasibility Report when required by
§ 1942.17(h)(l). (Renumbered 04-02-98, SPECIAL PN.)
(I) Proposed lease agreements, management agreements, or other agreements when facility management will be provided by other than the applicant. (Renumbered 04-02-98, SPECIAL PN.)
(J) Other forms and documents on which there are specific questions. (Renumbered 04-02-98, SPECIAL PN.)
(K) Environmental impact analysis and documentation.
(L) Civil Rights Impact Analysis. (Added 04-02-98, SPECIAL PN.)
§ 1942.5(b) (Con.)
(2) For applications to be reviewed in the State or field, at least those items in paragraph (b)(l)(ii) of this section should be available.
(c) For all applications. All Letters of Conditions will be addressed to the applicant, signed by the Rural Development Manager or other Agency representative designated by the State Director, and delivered to the applicant. Upon signing the Letter of Conditions, the Rural Development Manager will send two copies of the Letter of Conditions and two copies of the automated Community Facilities Project Summary to the State Director. The State Director will immediately send one copy of the automated Community Facilities Project Summary and a copy of the Letter of Conditions to the National Office, Attention: Community Facilities Division. The Rural Development Manager, with assistance as needed from the State Office, will discuss the requirements of the Letter of Conditions with the applicant's representatives and afford them an opportunity to execute Form RD 1942-46. (Revised 03-19-03,
(1) The Letter of Conditions should not ordinarily be issued unless the State Director expects to have adequate funds in the State allocation to fund the project within the next 12 months, based on historic allocations or other reliable projections.
(2) If the applicant declines to execute Form RD 1942-46, the Rural Development Manager will immediately notify the State Director and provide complete information of the reasons for such declination. (Revised 11-08-89, PN 121.)
(3) If the applicant accepts the letter of conditions by executing Form RD 1942-46, the Rural Development Manager will forward the executed Form RD 1942-46 and a signed and an unsigned copy of Form RD 1940-1 to the State Director. (Revised 03-19-03, PN 357.)
(d) Loan approval and obligating funds. Loans will be approved under this subpart and subpart A of part 1901 of this chapter (available in any Rural Development office). The loan will be considered approved on the date the signed copy of Form RD 1940-1 is mailed to the applicant. The State Director or designee may request an obligation of funds when available within their State allocation and according to the following:
(1) Form RD 1940-1, authorizing funds to be reserved, may be executed by the loan approval official providing the applicant has the legal authority to contract for a loan, enter into required agreements, and has signed Form RD 1940-1.