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Can bond projects authorized under 23 U.S.C. 122 use ARRA funding?

April 26, 2017arra authorized Bond funding Projects

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Can bond projects authorized under 23 U.S.C. 122 use ARRA funding?

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Similar to the response in Question 31 concerning the use of AC, projects that utilize bond and other debt instrument financing can only use ARRA financing if there has been no “conversions” and no AC is authorized on the project. If the ARRA package extends over multiple years, how will multi-year projects that have construction components set to go in 2009 be treated? Would the recovery funds be eligible to substitute for the State funds (not just a cash strapped situation) – a.k.a. AC conversion – for the 2009 construction or later elements? (updated: 2/24/2009) Any unobligated balances will be withdrawn after one year and redistributed. No AC authorizations/conversions are permitted on ARRA projects. See the implementing guidance for more details. No funds will be available for additional obligation after 9/30/2010.