99-14715. Delegation of Authority To Conduct Asset Sales of Loans and Other Properties

[Federal Register Volume 64, Number 111 (Thursday, June 10, 1999)]
[Notices]
[Pages 31341-31342]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-14715]


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SMALL BUSINESS ADMINISTRATION


Delegation of Authority To Conduct Asset Sales of Loans and Other 
Properties

    A. The Administrator of the Small Business Administration (the 
``Agency'') Aida Alvarez pursuant to the authority vested in her by the 
Small Business Act, 72 Stat. 384, as amended and the Small Business 
Investment Act of 1958, 72 Stat. 689 as amended, hereby delegates to 
the Assistant Administrator for Portfolio Management the following 
authority to conduct sales in bulk of Agency assets including loans and 
properties.
    1. To conduct a public sale of 7(a), 503, 504 and disaster business 
and home loans or portfolios of loans and properties that have been 
designated for the Asset Sales Program.
    2. To enter into any and all agreements with lenders that are 
required to market and sell assets as part of the Asset Sales Program.
    3. To remove any loans or properties from a particular sale or from 
the Asset Sales Program.
    4. To oversee and take all necessary action in connection with the 
administration, servicing, collection and liquidation of any loan that 
has been designated for the Asset Sales Program.
    5. To solicit bids from qualified bidders for the purchase of loan 
assets or properties held by the Agency or for which the Agency has 
been authorized to act as agent for their sale by participating lenders 
or third parties holding Agency guaranteed or direct loans.
    6. To execute on behalf of SBA loan sale agreements and any other 
documents necessary to consummate the sale and transfer of certain 
loans and properties designated for the Asset Sales Program to 
successful bidders approved by the Deputy Administrator.
    7. To take all necessary action in connection with matters related 
to the

[[Page 31342]]

Asset Sales Program and to do and perform and to assent to the doing 
and performance of, all and every act and thing requisite and proper to 
effectuate the powers granted herein.
    8. To certify true copies of any records, papers, documents or 
instruments in the possession of the Agency, to certify the 
nonexistence of records; and to cause the Seal of the Small Business 
Administration to be affixed to all such certifications.
    9. The authority and powers delegated herein may not be re-
delegated.
    B. The Administrator of the Small Business Administration (the 
``Agency'') Aida Alvarez pursuant to the authority vested in her by the 
Small Business Act, 72 Stat. 384, as amended and the Small Business 
Investment Act of 1958, 72 Stat. 689 as amended, hereby delegates to 
the Deputy Administrator the following authority:
    To approve the selection of the successful bidder or bidders for 
any asset sale conducted by the Agency. The Deputy Administrator's 
approval of all bids will be based on the advice and recommendation of 
a committee consisting of the Chief Financial Officer, Chief Operating 
Officer, General Counsel, Associate Administrator for Financial 
Assistance, and the Associate Deputy Administrator for Capital Access.
Aida Alvarez,
Administrator.
[FR Doc. 99-14715 Filed 6-9-99; 8:45 am]
BILLING CODE 8025-01-P