---
kind: "section"
citation: "24 C.F.R. § 1000.424"
title: "24"
number: "1000.424"
heading: "What are the application requirements for guarantee assistance under title VI of NAHASDA?"
url: "https://uscodex.org/cfr/24/1000.424"
---

# §1000.424. What are the application requirements for guarantee assistance under title VI of NAHASDA?


The application for a guarantee must include the following:

- (a) An identification of each of the activities to be carried out with the guaranteed funds and a description of how each activity qualifies:
  - (1) As an affordable housing activity as defined in [section 202](/cfr/24/202.md) of NAHASDA; or
  - (2) **As a housing related community development activity under section 601(a) of NAHASDA.**
- (b) A schedule for the repayment of the notes or other obligations to be guaranteed that identifies the sources of repayment, together with a statement identifying the entity that will act as the borrower.
- (c) A copy of the executed loan documents, if applicable, including, but not limited to, any contract or agreement between the borrower and the lender.
- (d) **Certifications by the borrower that—**
  - (1) The borrower possesses the legal authority to pledge and that it will, if approved, make the pledge of grants required by [section 602(a)(2)](/cfr/24/602.md?p=a-2) of NAHASDA.
  - (2) It possesses the legal authority to borrow or issue obligations and to use the guaranteed funds in accordance with the requirements of this subpart.
  - (3) Its governing body has duly adopted or passed as an official act a resolution, motion, or similar official action that:
    - (i) Identifies the official representative of the borrower, and directs and authorizes that person to provide such additional information as may be required; and
    - (ii) Authorizes such official representative to issue the obligation or to execute the loan or other documents, as applicable.
  - (4) **The borrower has complied with section 602(a) of NAHASDA.**
  - (5) The borrower will comply with the requirements described in subpart A of this part and other applicable laws.

## Notes

### Amendments

[63 FR 12349, Mar. 12, 1998, as amended at 77 FR 71528, Dec. 3, 2012]

### Authority

Authority: 25 U.S.C. 4101 et seq.; 42 U.S.C. 3535(d).

### Source

Source: 63 FR 12349, Mar. 12, 1998, unless otherwise noted.

### Amendments

[63 FR 12349, Mar. 12, 1998, as amended at 77 FR 71528, Dec. 3, 2012]