Getty Deadline day for Rand Paul The Kentucky senator ponied up the cash for Kentucky to hold a caucus so he can run for president and the Senate just hours before a Friday deadline.

Sen. Rand Paul's plan to run for president and reelection to the Senate simultaneously is officially in motion.

The Kentucky Republican transfered $250,000 to the state Republican Party on Friday afternoon, the deadline for a down payment on the tricky maneuver that could cost as much as $700,000 to engineer.

By late Friday morning, Paul still hadn't transferred the funds, despite suggesting in a letter last month that he'd already made the deposit. But Paul's campaign had insisted it would meet its deadline and has simply been engaged in last-minute fundraising. Kentucky Republican leaders repeatedly voiced confidence that money would be delivered on time — and the state party announced the transfer in a press release.

"The conditions have been met for the Republican Party of Kentucky to move forward with a presidential caucus in 2016," said GOP Chairman Steve Robertson. "We would like to thank Senator Paul for his effort and due diligence in working to ensure that Republicans across Kentucky will now have an early and relevant say in the 2016 presidential primary process."

The payment kicks off a plan to help Paul circumvent a state law that bars candidates from appearing on the same ballot for two different offices. To skirt the restriction, Paul convinced the Kentucky GOP to schedule -- at its own expense -- a March presidential caucus, two months before the state's traditional May primary. To win support for his plan, Paul pledged to pay for the caucus, which is expected to cost as little as $300,000 or as much as $700,000. Party officials endorsed the plan last month on the condition that the senator submit the first $250,000 by Sept. 18.

States are due to finalize their presidential nominating procedures and schedule with the Republican National Committee by Oct. 1.

Though Paul secured the overwhelming support of party leaders for his plan, Republicans in Kentucky have grown increasingly uncertain about the prospect that he'll win the GOP nomination. He's consistently polled in the low single digits -- earning unprovoked derision in Wednesday's debate from GOP frontrunner Donald Trump -- and his libertarian brand and noninterventionist foreign policy views have turned off elements of the GOP base. He's also struggled to land big donors and badly trails his rivals in the fundraising race.

Paul's two debate performances haven't seemed to alter his trajectory. But Kentucky Republicans told POLITICO they saw no urgent need for him to bail on his White House bid, even if it means lingering uncertainty about the fate of his Senate seat too.

"Candidates need to provide a justification for being in the race, and I think he’s done that in both of these last two debates," said Scott Lasley, a member of the Kentucky GOP executive committee. Lasley said that Paul proved he's got a distinct brand of Republicanism, akin to his father, former Rep. Ron Paul. Lasley said it's too early for Paul to fold in the GOP nomination fight.

"The libertarian conservative message actually came out better last night for Rand," added Troy Sheldon, another executive committee member who viewed Paul's debate performance in more favorable terms.

Paul allies were generally heartened by the debate as well. Jesse Benton, a longtime Paul confidant, said Paul seems to have surpassed the stiffest challenge when he won the endorsement for his caucus plan last month.

"There’s a path to the nomination in his lane," he said. "His candidacy is still alive and viable. As long as that remains, he’s going to keep on trudging forward."

Jim Skaggs, a third member of the Kentucky GOP executive committee, said Paul doesn't appear to be under any serious pressure inside Kentucky to focus more explicitly on his re-election campaign to his Senate seat. "In talking to some of his so-called advisers, they’ve told me that he is going to go ahead and pursue the presidency," he said. "If he would concentrate on the Senate seat, then he has a pretty safe job for six more years. He would be the heavy, heavy, heavy favorite. Older, more mature minds would probably have gone that direction. He’s a very aggressive young man. He has time to make a mistake -- if it is a mistake.'

Robertson, the state party chairman, said the party's also been collecting funds from donors explicitly intended to help cover the cost of the caucus. He added that he had had daily conversations with the Paul campaign about meeting the deadline.

