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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 12 - Banks and Banking |
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Chapter XVIII - Community Development Financial Institutions Fund, Department of the Treasury |
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Part 1808 - Community Development Financial Institutions Bond Guarantee Program |
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Subpart C - Interest Rates; Terms and Conditions of Bonds, Bond Loans, and Secondary Loans |
§ 1808.309 - Restrictions on uses of Bond Proceeds and Bond Loan proceeds.
Latest version.
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§ 1808.309 Restrictions on uses of Bond Proceeds and Bond Loan proceeds.
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.