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B-180015 1 (1973-11-28)

handle is hein.gao/gaobaadtq0001 and id is 1 raw text is: *b - * '4 ; 2a COMPTROLLER GVENERAL OF THE UNITED STATES WASHINGTON, DO.C. 0 L 3450015 ovember 28, 1973 Kr, Desuaumi0. Tyner Authorized Certifying Officer Federa l 1ousina Adaltration Department of Housing Lad Urban flevelopment Vear r, Tyner: Your kt' of October 23, 1973 (roference: AflheiTZbO), concerns * vo.icbar presented to you for certification. Tho voucher, In fnivor of the ialeah Hi-riSprines First State fank, fialeali, Florida, an lender, in the amount of 1,S98,40O covers a loan sustained on thn note of Ortland UI and Iobecca n, odie which had been insured pursuant to Title I of the Uational Jouaig Act, so manded, 12 U.S.C, 1701 atRoao The borrowers' credit application (1om I-l) dated fay 16, 1969p, states that the Improved property WLB imed by the Richland Co., Inc., so title holder, The credit opplication, the instcllrnnt note, and the co;plotio.t wertificate were aisned individually by Ortland It. anti ( , Zebecca 0. l odie, There to no indication on any of theoe documentu that they vare otncd by Ortland R. ud Rebecnca B. Bodie an repreaontotives of tho Richland Cos, Inc. In vriew of the fact that the ownc of the property wras the ichland Co., Inc., which was nither t0e applicant for. credit nor a mPaer of the promiaosory note, the lender an dviond by WIIA that the claim could not be certified for payment. The lender, however, vappealed this decision and by letter dated July 31, 1973, It rcqueotod that our Offico rule on thle matter, You now seek our views an to whether It is proper to certify the enclosed voucher for payent. At the %L-e the loan was made 12 UhC. 1703 provided, in pertinent part, as follows (a) The Secretary U. authorisx4 and eupowcred to A A Ainsura banks * * against elosas t * * c a result of lons * * A for the purpose of fitnanciug alterations, repairs, and i4provements upon * * f, real property * * * by tha owners thereof or by lbsseon of much real property under a leansexpiring not less than six months ater the maturity of the los f f.n 11 Pcajen11 r,'CAdSre 4(H , 9 ,, p..

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