applications for grants and conditions for approval

applications for grants and conditions for approval Sec. 605. (a) Institutions of higher education which desire to obtain grants under this part shall submit applications therefor at such time or times and in such manner as may be prescribed by the Commissioner, and such applications shall contain such information as may be required by or pursuant to regulation for the purpose of enabling the Commissioner to make the determinations required to be made by him under this part. (b) The Commissioner shall approve an application covering a project under this part and meeting the requirements prescribed pursuant to subsection (a) if— (1) the project has been approved and recommended by the appropriate State commission; (2) the St ate commission has certified to the Commissioner, in accordance with the State plan, the Federal share of the cost of the project, and sufficient funds to pay such Federal share are available from the applicable allotment of the State (including any applicable reallotment to the State); (3) the project has, pursuant to the State plan, been assigned a priority that is higher than that of all other projects within such State (chargeable to the same allotment) which meet all the requirements of this section (other than this clause) and for which Federal funds have not yet been reserved; (4) the Commissioner determines that the project will be undertaken in an economical manner and will not be overly elaborate or extravagant; and (5) the Commissioner determines that the application contains or is supported by satisfactory assurances— (A) that Federal funds received by the applicant will be used solely for defraying the cost of the project covered by such application, (B) that sufficient funds will be available to meet the non-Federal portion of such cost and to provide for the effective use of the equipment upon completion, and (C) that the institution will meet the maintenance of effort requirement in section 604(b). (b) Amendments of applications shall, except as the Commissioner may otherwise provide by or pursuant to regulation, be subject to approval in the same manner as original applications.