[Code of Federal Regulations]
[Title 23, Volume 1]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 23CFR140.610]

[Page 15]
 
                           TITLE 23--HIGHWAYS
 
 CHAPTER I--FEDERAL HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
 
PART 140--REIMBURSEMENT--Table of Contents
 
            Subpart F--Reimbursement for Bond Issue Projects
 
Sec. 140.610  Conversion from bond issue to funded project status.

    (a) At such time as the SHA elects to apply available apportioned 
Federal-aid funds to the retirement of bonds, including eligible 
interest earned and payable on Interstate Bond Projects, subject to 
available obligational authority, its claim shall be supported by 
appropriate certifications as follows:

    I hereby certify that the following bonds, (list), the proceeds of 
which have been actually expended in the construction of bond issue 
projects authorized by title 23 U.S.C., section 122, (1) have been 
retired on ------, or (2) mature and are scheduled for retirement on --
----, which is ---- days in advance of the maturity date of ------.

    Eligible interest claimed on Interstate Bond Projects shall be shown 
for each bond and the certification shall include the statement:

    I also certify that interest earned and paid or payable for each 
bond listed has been determined from the date on and after which the 
respective bond proceeds were actually expended on the project.

    (b) The SHA's request for full conversion of a completed projects), 
or partial conversion of an active or completed project(s), may be made 
by letter, inclusive of the appropriate certification as described in 
Sec. 140.610(a) making reference to any progress payments received or 
the final voucher(s) previously submitted and approved in accordance 
with Sec. 140.609.
    (c) Approval of the conversion action shall be by the Division 
Administrator.
    (d) The SHA's request for partial conversion of an active or 
completed bond issue project shall provide for: (1) Conversion to funded 
project status of the portion to be financed out of the balance of 
currently available apportioned funds, and (2) retention of the unfunded 
portion of the project in the bond program.
    (e) Where the SHA's request involves the partial conversion of a 
completed bond issue project, payment of the Federal funds made 
available under the conversion action shall be accomplished through use 
of Form PR-20, Voucher for Work Performed under Provisions of the 
Federal-aid and Federal Highway Acts, prepared in the division office 
and appropriately cross-referenced to the Bond Issue Project final 
voucher previously submitted and approved. The final voucher will be 
reduced by the amount of the approved reimbursement.