CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER XVIII—RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE (parts 1804 to 2045) > SUBCHAPTER H—PROGRAM REGULATIONS (parts 1900 to 1981) > PART 1942—ASSOCIATIONS > SUBPART G—Rural Business Enterprise Grants and Television Demonstration Grants (§1942.301 to §1942.350) > 1942.316—Grant approval, fund obligation and third party financial assistance.

1942.316—Grant approval, fund obligation and third party financial assistance.

(a) Grant approval. FmHA or its successor agency under Public Law 103-354 State Directors are authorized to approve grants made in accordance with this subpart and subpart A of part 1901 of this chapter.
(b) Fund obligation and approval announcement. Funds will be obligated and approval announcement made in accordance with the provisions of § 1942.5(d) of subpart A of part 1942 of this chapter.
(c) Third party financial assistance. Approval of a grant to an applicant who will use grant funds to provide financial assistance to a third party does not constitute approval of the projects financed by the grantee. The review, approval and disbursement of funds for specific projects financed by grantees will be completed in accordance with applicable sections of this subpart.

Code of Federal Regulations

[45 FR 73637, Nov. 6, 1980, as amended at 47 FR 36413, Aug. 20, 1982; 53 FR 30250, Aug. 11, 1988]