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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XVII - Rural Utilities Service, Department of Agriculture |
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Part 1783 - Revolving Funds for Financing Water and Wastewater Projects (Revolving Fund Program) |
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Subpart B - Revolving Loan Program Grants |
§ 1783.12 - What are eligible uses of grant proceeds?
Latest version.
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§ 1783.12 What are eligible uses of grant proceeds?
(a) Grant proceeds shall be used solely for the purpose of establishing the revolving loan fund to provide loans to eligible entities for:
(1) Pre-development costs associated with proposed water and wastewater projects or with existing water and wastewater systems, and
(2) Short-term costs incurred for replacement equipment, small-scale extension of services, or other small capital projects that are not part of the regular operations and maintenance activities of existing water and wastewater systems.
(b) A grant recipient may not use grant funds in any manner inconsistent with the terms of the grant agreement.