[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1703.45]

[Page 47]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1703--RURAL DEVELOPMENT--Table of Contents
 
      Subpart B--Rural Economic Development Loan and Grant Program
 
Sec. 1703.45  Review and analysis of applications.

    Completed applications received at RUS by the 14th day of the month 
will be considered at the first selection date which occurs at least 40 
days after the application was received. Completed applications received 
at RUS after the 14th day of a month will be either be held for the next 
application period or returned to the borrower, at the borrower's 
option. The review period of at least 40 days should allow sufficient 
time for state and local governments to review the proposed projects 
under the intergovernmental review process, as set forth in 7 CFR part 
3015, and to provide sufficient time for the Administrator to fully 
review and analyze these applications. In the event state and local 
government review has not been completed, the Administrator's approval 
may be contingent upon the review being satisfactorily documented. The 
Administrator reserves the discretion to consider applications outside 
the normal selection period.