[Code of Federal Regulations]
[Title 24, Volume 3]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR570.701]

[Page 152]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
  CHAPTER V--OFFICE OF ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND 
        DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 570_COMMUNITY DEVELOPMENT BLOCK GRANTS--Table of Contents
 
                        Subpart M_Loan Guarantees
 
Sec. 570.701  Definitions.

    Borrower means the public entity or its designated public agency 
that issues debt obligations under this subpart.
    Debt obligation means a promissory note or other obligation issued 
by a public entity or its designated public agency and guaranteed by HUD 
under this subpart, or a trust certificate or other obligation offered 
by HUD or by a trust or other offeror approved for purposes of this 
subpart by HUD which is guaranteed by HUD under this subpart and is 
based on and backed by a trust or pool composed of notes or other 
obligations issued by public entities or their designated public 
agencies and guaranteed or eligible for guarantee by HUD under this 
subpart.
    Designated public agency means a public agency designated by a 
public entity to issue debt obligations as borrower under this subpart.
    Entitlement public entity means a metropolitan city or an urban 
county receiving a grant under subpart D of this part.
    Guaranteed loan funds means the proceeds payable to the borrower 
from the issuance of debt obligations under this subpart.
    Nonentitlement public entity means any unit of general local 
government in a nonentitlement area.
    Public entity shall have the meaning provided for the term 
``Eligible public entity'' in section 108(o) of the Act.
    State-assisted public entity means a unit of general local 
government in a nonentitlement area which is assisted by a State as 
required in Sec. 570.704(b)(9) and Sec. 570.705(b)(2).

[59 FR 66604, Dec. 27, 1994, as amended at 61 FR 11481, Mar. 20, 1996]