GroundRules
12 CFR 1808.309: Restrictions on uses of Bond Proceeds and Bond Loan proceeds.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER XVIII—COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, DEPARTMENT OF THE TREASURY
- PART 1808—COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS BOND GUARANTEE PROGRAM
- Subpart C—Interest Rates; Terms and Conditions of Bonds, Bond Loans, and Secondary Loans
Pursuant to 12 U.S.C. 47123a(c)(5), Bond Loan proceeds shall not be used for:
(a) Political activities;
(b) Lobbying, whether directly or through other parties;
(c) Outreach;
(d) Counseling services;
(e) Travel expenses;
(f) For the salaries or administrative costs of the Qualified Issuer or any recipients of Bond Proceeds, other than those costs covered by Bond Issuance Fees;
(g) To fund the Risk-Share Pool;
(h) To pay fees other than Bond Issuance Fees; or
(i) Any other use as may be specified in the applicable Notice of Guarantee Availability.
Collected 2026-08-27T02:24:16Z. Source file · JSON