Loan closing.

CFR · 2024-01-01 · US · Title 7

(a) (1) Form RD 440-57, “Acknowledgement of Obligated Funds/Check Request,” has been received from the Finance Office. (2) The applicant has complied with approval conditions and any closing instructions, except for those actions which are to be completed on the date of loan closing or subsequent thereto. (3) The applicant is ready to start construction or funds are needed to pay interim financing obligations. (b) (2) Loans will be closed in accordance with the closing instructions issued by OGC and § 1942.19 of subpart A of this part 1942. (c) (d) (e) (f) (g) (h) (1) The Finance Office will be notified of the anticipated date for the retirement of the interim instruments and the issuance of permanent instruments of debt. (2) The Office of the Deputy Chief Financial Officer will prepare a statement of account including accrued interest through the proposed date of retirement and also show the daily interest accrual. The statement of account and the interim financing instruments will be forwarded to the Rural Development Manager. (3) The Rural Development Manager will collect interest through the actual date of the retirement and obtain the permanent instrument(s) of debt in exchange for the interim financing instruments. The permanent instruments and the cash collection will be forwarded to the Office of the Deputy Chief Financial Officer immediately, except that for notes and single instrument bonds fully registered as to principal and interest the original will be retained

official document · source cfr-2024 · id 7:§ 1942.123