§ 35.3130. The capitalization grant agreement.
124 words·~1 min read·
/us/cfr/t40/s§ 35.3130·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Contents. The capitalization grant agreement must contain or incorporate by reference the State's application, Intended Use Plan, agreed upon payment schedule, State environmental review process and certifications or demonstrations of other agreement requirements and, where used, the SRF Operating Agreement.
(b)Operating agreement. At the option of the State, the organizational and administrative framework and those procedures of the SRF program that are not expected to change annually may be described in an Operating Agreement (OA). The OA must be incorporated by reference in the grant agreement.
(c)Application requirements. The State must certify in its application that it has the legal, managerial, technical, and operational capabilities to administer the program. (Approved by the Office of Management and Budget under control number 2040-0118)