Public bodies and nonprofit corpora- tions Sample Clauses

Public bodies and nonprofit corpora- tions. Notwithstanding other provisions of this section, any public body or non- profit corporation that receives a guar- xxxxx of a loan that meets the thresh- olds established by OMB Circular A–128 or A–133 for coverage under such cir- cular, must provide an audit in accord- ance with the applicable OMB Circular A–128 or A–133 for the fiscal year of the borrower in which the Loan Note Guar- xxxxx is issued. If the loan is for devel- opment or purchases made in a pre- vious fiscal year through interim fi- nancing, an audit, in accordance with the applicable circular, will also be provided for the fiscal year in which the development or purchases occurred. Any audit provided by a public body or nonprofit corporation in compliance with OMB Circular A–128 or A–133 will be considered adequate to meet the re- quirements of this section for that year. OMB Circulars are available from the Office of Management and Budget, EOP Publications Office, 000 00xx Xxxxxx, XX., Xxxx 0000, New Executive Office Building, Xxxxxxxxxx, XX 00000. [61 FR 18494, Apr. 26, 1996] §§ 1980.446–1980.450 [Reserved] § 1980.451 Filing and processing appli- cations.
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