[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: 7CFR1737.41]

[Page 334]
 
                          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. 1737.41  Procedure for obtaining approval.

    (a) The borrower shall submit to the RUS Area Office a written 
request for approval of interim financing. This request shall include:
    (1) A description of the construction proposed under interim 
financing.
    (2) An explanation of the urgency of proceeding with the proposed 
construction.
    (3) An estimate of the cost.
    (4) The source of funds to be used for interim financing.
    (b) RUS will not approve interim financing until it has reviewed and 
found acceptable:
    (1) All of the information required under Sec. 1737.21; or
    (2) The following documents:
    (i) The loan application (RUS Form 490) clearly marked ``in support 
of interim financing request.''
    (ii) The Loan Design (LD), or the portion thereof that covers the 
proposed construction if the completed LD is not available. See 7 CFR 
1737.32.
    (iii) Evidence that the borrower has satisfied the requirements of 7 
CFR part 1794 applying to the proposed interim construction.
    (iv) A statement that the borrower is or is not delinquent on any 
Federal debt, such as income tax obligations or a loan guarantee from 
another Federal agency. If delinquent, the reasons for the delinquency 
must be explained and RUS will take such explanation into consideration 
in deciding whether to approve the interim financing, see 7 CFR 
1737.22(b)(9).
    (v) A ``Certification Regarding Lobbying'' for loans, or a 
``Statement for Loan Guarantees and Loan Insurance'' for loan 
guarantees, and when required, an executed Standard Form LLL, 
``Disclosure of Lobbying Activities,'' (see section 319, Pub. L. 101-121 
(31 U.S.C. 1352)).
    (vi) Executed copy of Form AD-1047, ``Certification Regarding 
Debarment, Suspension, and Other Responsibility Matters--Primary Covered 
Transactions'' (see appendix A to 7 CFR part 3017).
    (vii) Any other supporting data required by the Administrator.
    (c) RUS will not approve a borrower's request for approval of 
interim financing if, in RUS's judgment:
    (1) The proposed interim financing does not comply with the 
requirements of this subpart.
    (2) The proposed interim construction will not qualify for RUS 
financing.
    (3) The proposed interim financing presents unacceptable loan 
security risks to RUS, or otherwise is not in the best interests of RUS.

(Approved by the Office of Management and Budget under control number 
0572-0079)

[54 FR 13356, Apr. 3, 1989. Redesignated at 55 FR 39396, Sept. 27, 1990, 
as amended at 56 FR 26599, June 10, 1991; 59 FR 54381, Oct. 31, 1994]