N.Y. Comp. Codes R. & Regs. tit. 9 § 1646-3.1

Current through Register Vol. 46, No. 25, June 18, 2024

Section 1646-3.1 - General

(a) The submission of a requisition is a prerequisite to the borrowing of development funds, whether such borrowing be from the State or from sources other than the State. A requisition consists of two sets of papers, viz: the requisition papers and the closing papers.

(1) Requisition papers. The requisition papers are submitted at least six weeks in advance of the date the funds will be borrowed and consist of a housing loan voucher, submitted in an original and one conformed copy, and of a certificate of purposes, submitted in an original and four conformed copies. The requisition papers are submitted in substantially the same form, whether the borrowing is to be from the State or from parties other than the State. Preparation of the requisition papers is described in sections 1646-3.2 and 1646-3.3, which follow.

(2) Closing papers. The closing papers consist of the evidence of indebtedness and of the supporting and related documents. The closing papers to be submitted will depend on whether the loan funds are advanced by the State or sources other than the State.

(b) Accounting entries and procedures in connection with the borrowing of development funds will be found in Part 1643, Financing.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1646-3.1