12 Pa. Code § 141.304. Limitations on loan commitments

12 Pa. Code § 141.304. Limitations on loan commitments—entitlement public entities.

§ 141.304. Limitations on loan commitments—entitlement public entities.

The amount of loan guarantees that an entitlement public entity receives may not exceed the amount of a public entity’s CDBG allocation that can support annual debt service payments based on the average amount of the CDBG allocation for the past 3 years or $7 million, whichever is less. This maximum amount applies to both single public entity applicants and joint public entity applicants.

Authority

   The provisions of this §  141.304 issued under the Community Development Block Grant Entitlement Program for Nonurban Counties and Certain Other Municipalities (35 P. S. § §  1751—1765).

Source

   The provisions of this §  141.304 adopted August 21, 1992, effective August 22, 1992, 22 Pa.B. 4313; amended January 20, 2006, effective January 21, 2006, 36 Pa.B. 283. Immediately preceding text appears at serial pages (231103) to (231104).

Cross References

   This section cited in 12 Pa. Code §  141.301 (relating to purpose); 12 Pa. Code §  141.302 (relating to definitions); 12 Pa. Code §  141.307 (relating to limitations on loan commitments—public entities); 12 Pa. Code §  141.308 (relating to CDBG requirement); and 12 Pa. Code §  141.309 (relating to Department approval).

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