[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: 7CFR1737.40]

[Page 333]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1737--PRE-LOAN POLICIES AND PROCEDURES COMMON TO INSURED AND GUARANTEED TELECOMMUNICATIONS LOANS--Table of Contents
 
  Subpart E--Interim Financing of Construction of Telephone Facilities
 
Sec. 1737.40  General.


    (a) Under special circumstances a borrower may request that RUS 
approve interim financing for interim construction. This subpart 
describes the circumstances in which RUS will consider approving interim 
financing of construction, the information to be submitted to RUS to 
support the borrower's request, RUS's requirements relating to interim 
construction, and related matters.
    (b) For a borrower to preserve the option of obtaining loan funds 
for reimbursement of interim financing, it must obtain prior RUS 
approval of its interim financing plan and follow the procedures in 7 
CFR 1737.41 and 7 CFR 1737.42.
    (c) RUS will approve interim financing only for projects which must 
be performed immediately.
    (d) RUS approval of interim financing is not a commitment that RUS 
will make loan funds available.
    (e) Equal employment opportunity requirements apply to interim 
construction. See RUS Bulletin 320-15.

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