7 CFR 770.3 - Eligibility requirements.

§ 770.3 Eligibility requirements.

An applicant must:

(a) Submit a completed Agency application form;

(b) Except for refinancing activities authorized in § 770.4(c), obtain an option or other acceptable purchase agreement for land to be purchased with loan funds;

(c) Be a Native American tribe or a tribal corporation of a Native American tribe without adequate uncommitted funds, based on Generally Accepted Accounting Principles, or another financial accounting method acceptable to Secretary of Interior to acquire lands or interests therein within the Native American tribe's reservation for the use of the Native American tribe or tribal corporation or the members of either;

(d) Be unable to obtain sufficient credit elsewhere at reasonable rates and terms for purposes established in § 770.4;

(e) Demonstrate reasonable prospects of success in the proposed operation of the land to be purchased with funds provided under this part by providing:

(1) A feasibility plan for the use of the Native American tribe's land and other enterprises and funds from any other source from which payment will be made;

(2) A satisfactory management and repayment plan; and

(3) A satisfactory record for paying obligations.

(f) Unless waived by the FSA Administrator, not have any outstanding debt with any Federal Agency (other than debt under the Internal Revenue Code of 1986) which is in a delinquent status.

(g) Not be subject to a judgment lien against the tribe's property arising out of a debt to the United States.

(h) Have not received a write-down as provided in § 770.10(e) within the preceding 5 years.

[ 66 FR 1567, Jan. 9, 2001, as amended at 70 FR 7167, Feb. 11, 2005]

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
U.S. Code: Title 25 - INDIANS

Title 7 published on 10-May-2017 03:42

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 7 CFR Part 770 after this date.

  • 2016-08-03; vol. 81 # 149 - Wednesday, August 3, 2016
    1. 81 FR 51274 - Environmental Policies and Procedures; Compliance With the National Environmental Policy Act and Related Authorities
      GPO FDSys XML | Text
      DEPARTMENT OF AGRICULTURE, Commodity Credit Corporation, Rural Business-Cooperative Service, Rural Utilities Service, Rural Housing Service, Farm Service Agency, and Farm Service Agency
      Final rule.
      Effective: August 3, 2016.
      7 CFR Parts 761, 762, 763, 764, 765, 766, 767, 770, 772, 773, 774, and 799