United States Code

the construction of decent, safe, and sanitary dwellings for such individuals and their families, subject to the following limitations:

(A) there is reasonable assurance of repayment of the loan;

(B) the amount of the loan, together with other funds which may be available, is adequate to achieve the purpose for which the loan is made;

(C) the credit assistance is not otherwise available on like terms or conditions from private sources or through other Federal, State, or local programs;

(D) the loan bears interest at a rate not to exceed 3 per centum per annum on the unpaid balance of principal, plus such additional charge, if any, toward covering other costs of the loan program as the Secretary may determine to be consistent with its purposes; and

(E) the loan is repayable within not more than thirty-three years.

In determining whether to extend financial assistance under paragraph (1) or (2) of subsection (b) of this section, the Secretary shall take into consideration, among other factors, the suitability of the area within which construction will be carried out to the type of dwelling which can be provided under mutual or self-help housing programs, the extent to which the assistance will facilitate the provision of more decent, safe, and sanitary housing conditions than presently exist in the area, the extent to which the assistance will be utilized efficiently and expeditiously, the extent to which the assistance will effect an increase in the standard of living of low-income individuals participating in the mutual or self-help housing program, and whether the assistance will fulfill a need in the area which is not otherwise being met through other programs, including those carried out by other Federal, State, or local agencies. (d) Definition.

As used in this section, the term "construction" includes the erection of new dwellings, and the rehabilitation, alteration, conversion, or improvement of existing structures.

(e) Establishment of appropriate criteria and procedures for determining eligibility of applicants. The Secretary is authorized to establish appropriate criteria and procedures in order to determine the eligibility of applicants for the financial assistance provided under this section, including criteria and procedures with respect to the periodic review of any construction carried out with such financial assistance.

(f) Authorization of appropriations; termination date.

There are hereby authorized to be appropriated for each fiscal year commencing after June 30, 1968, and ending prior to July 1, 1973, such sums, not in excess of $5,000,000 for any such fiscal, as may be necessary to carry out the provisions of this section. No grant or loan may be made or contract entered into under the authority of this section after June

30, 1973, except pursuant to a commitment or other obligation entered into pursant to this section before that date.

(g) Authorization of appropriations for purposes of subsection (b)(1)(B) of this section; deposit in Self-Help Fund; instruments and property acquired as assets of fund; deposit of repayments. There are hereby authorized to be appropriated for the purposes of subsection (b) (1) (B) of this section not to exceed $1,000,000 for the fiscal year ending June 30, 1969, and not to exceed $2,000,000 for the fiscal year ending June 30, 1970. Any amount so authorized to be appropriated for any fiscal year which is not appropriated may be appropriated for any succeeding fiscal year or years. Amounts appropriated under this subsection shall be deposited in the Self-Help Fund, which shall be available without fiscal year limitation for making loans under subsection (b) (1) (B) of this section. Instruments and property acquired by the Secretary in or as a result of making such loans shall be assets of the Self-Help Fund. Sums received from the repayment of such loans shall be deposited in and be a part of the SelfHelp Fund. (July 15, 1949, ch. 338, title V, § 523, as added Aug. 1, 1968, Pub. L. 90-448, title X, § 1005, 82 Stat. 553.)

§ 1490d. Loans to nonprofit organizations to provide building sites for eligible families, nonprofit organizations, and cooperatives; interest rates; factors determinative of making loan.

(a) The Secretary may make loans, on such terms and conditions and in such amounts as he deems necessary, to public or private nonprofit organizations for the acquisition and development of land as building sites to be subdivided and sold to families, nonprofit organizations, and cooperatives eligible for assistance under section 1715z or 1715z-1 of Title 12 or section 1490a of this title. Such a loan shall bear interest at a rate prescribed by the Secretary taking into consideration a rate determined annually by the Secretary of the Treasury as the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the average maturities of such loans, adjusted to the nearest one-eighth of 1 per centum, and shall be repaid within a period not to exceed two years from the making of the loan or within such additional period as may be authorized by the Secretary in any case as being necessary to carry out the purposes of this section.

(b) In determining whether to extend financial assistance under this section, the Secretary shall take into consideration, among other factors, (1) the suitability of the area to the types of dwellings which can feasibly be provided, and (2) the extent to which the assistance will (i) facilitate providing needed decent, safe, and sanitary housing, (ii) be utilized efficiently and expeditiously, and (iii) fulfill a need in the area which is not otherwise being met through other programs, including those being carried out by other Federal, State, or local agencies. (July 15, 1949, ch. 338, title V, § 524, as added Dec. 24, 1969, Pub. L. 91-152, title IV, § 413 (f) (1), 83 Stat. 399.)

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 1487 of this title.

1496. 1497.

Act.

Definition of "States".

Technical advisory services in budgeting, financing, planning and construction of community facilities; appropriations.

CHAPTER REFERRED TO IN OTHER SECTIONS

This chapter is referred in title 12 section 1749d. § 1491. Declaration of policy.

It has been the policy of the Congress to assist wherever possible the States and their political subdivisions, and Indian tribes to provide the services and facilities essential to the health and welfare of the people of the United States.

The Congress finds that in many instances municIpalities, or other political subdivisions of States, and Indian tribes, which seek to provide essential public works or facilities (including mass transportation facilities and equipment), are unable to raise the necessary funds at reasonable interest rates.

It is the purpose of this chapter (subject to the limitations contained herein) to authorize the extension of credit to assist in the provision of certain essential public works or facilities by States, municipalities, or other political subdivisions of States, and Indian tribes, where such credit is not otherwise available on reasonable terms and conditions. (Aug. 11, 1955, ch. 783, title II, § 201, 69 Stat. 642; June 30, 1961, Pub. L. 87-70, title V, § 501(a), 75 Stat. 173; Oct. 15, 1962, Pub. L. 87-808, § 1, 76 Stat. 920.)

AMENDMENTS

1962-Pub. L. 87-808 inserted "and Indian tribes" in three places.

1961-Pub. L. 87-70 inserted phrases "(including mass transportation facilities and equipment)" in the second paragraph, and "(subject to the limitations contained herein)" in the third paragraph.

TRANSFER OF FUNCTIONS

Transfer to the Secretary of Transportation of functions of the Department of Housing and Urban Development and of the Secretary of Housing and Urban Development and agencies and officers thereof under this chapter incidental to or necessary for the performance of functions transferred by section 1(a)(1) of Reorg. Plan No. 2 of 1968 insofar as functions hereunder involve assistance specifically authorized for mass transportation facilities or equipment, see section 1(a)(2) of Reorg. Plan No. 2 of 1968, eff. June 20, 1968, 33 F.R. 6965, 82 Stat. 1369, set out in the Appendix to Title 5, Government Organization and Employees.

§ 1492. Public projects.

(a) Purchase of securities or obligations; loans; payment of operating expenses.

The Secretary of Housing and Urban Development is authorized (1) to purchase the securities and obligations of, or make loans to, municipalities and other political subdivisions and instrumentalities of one or more States (including public agencies and instrumentalities of one or more municipalities or other political subdivisions of one or more States), and Indian tribes to finance specific projects for public works or facilities under State, municipal, or other applicable law, and (2) to purchase the securities and obligations of, or make loans to, States, municipalities and other political subdivisions of States, public agencies and instrumentalities of one or more States, municipalities and political subdivisions of States, and public corporations, boards, and commissions established under the laws of any State, to finance the acquisition, construction, reconstruction, and improvement of facilities and equipment for use, by operation or lease or otherwise, in mass transportation service in urban areas, and for use in coordinating highway, bus, surface-rail, underground, parking and other transportation facilities in such areas. The facilities and equipment referred to in clause (2) may include land, but not public highways, and any other real or personal property needed for an economic efficient, and coordinated mass transportation system. No such purchase or loan shall be made for payment of ordinary governmental or non-project operating expenses.

(b) Restrictions and limitations; interest.

The powers granted in subsection (a) of this section shall be subject to the following restrictions and limitations:

(1) No financial assistance shall be extended under this section unless the financial assistance applied for is not otherwise available on reasonable terms, and all securities and obligations purchased and all loans made under this section shall be of such sound value or so secured as reasonably to assure retirement or repayment, and such loans may be made either directly or in cooperation with banks or other lending institutions through agreements to participate or by the purchase of participations or otherwise.

(2) No securities or obligations shall be purchased, and no loans shall be made, including renewals or extensions thereof, which have maturity dates in excess of forty years. Subject to such maximum maturity, the Secretary in his discretion may provide for the postponement of the payment of interest on not more than 50 per centum of any financial assistance extended to an applicant under this section for a period up to ten years where (A) such assistance does not exceed 50 per centum of the development cost of the project involved, and (B) it is determined by the Secretary that such applicant will experience above-average population growth and the project would contribute to orderly community development, economy, and efficiency; and any amounts so postponed shall be payable with interest in annual installments during the remaining maturity of

such assistance.

(3) Financial assistance extended under this section shall bear interest at a rate determined by the Secretary which shall be not more than the higher of (A) 3 per centum per annum, or (B) the total of one-half of 1 per centum per annum added to the rate of interest paid by the Secretary on funds obtained from the Secretary of the Treasury as provided in section 1493 (a) of this title.

(4) (A) No financial assistance shall be extended under clause (1) of subsection (a) of this section to any municipality or other political subdivision having a population of fifty thousand or more (one hundred fifty thousand or more in the case of a community situated in an area designated as a redevelopment area under the Area Redevelopment Act or any Act supplementary thereto, according to the most recent decennial census, or; (B) to any public agency or instrumentality serving one or more municipalities, political subdivisions, or unincorporated areas in one or more States, unless each municipality, political subdivision, or unincorporated area to be served by the specific public work or facility for which assistance is sought under this section has a population less than the applicable figure under clause (A) according to such census. This paragraph shall not apply to any financial assistance to be extended under subsection (a) of this section for the purpose of financing any project for public works or facilities (i) in a community in or near which is located a research or development installation of the National Aeronautics and Space Administration, or (ii) to be initiated or accelerated as the result of a grant-in-aid from an allocation made by the President under section 2642 of this title, or (iii) to be provided in connection with the establishment of a new community approved under section 1749cc-1 of Title 12 or under sections 3901 to 3914 of this title or under part B of the Urban Growth and New Community Development Act of 1970.

(c) Priority to applications of smaller municipalities. In the processing of applications for financial assistance under clause (1) of subsection (a) of this section the Secretary shall give priority to applications of smaller municipalities for assistance in the construction of basic public works (including works for the storage, treatment, purification, or distribution of water; sewage, sewage treatment, and sewer facilities; and gas distribution systems) for which there is an urgent and vital public need. As used in this section, a "smaller municipality" means an incorporated or unincorporated town, or other political subdivision of a State, which had a population of less than ten thousand inhabitants at the time of the last Federal census, or an Indian tribe. Notwithstanding any other provision of this chapter, the Secretary may extend financial assistance, as otherwise authorized by clause (1) of subsection (a) of this section, to any private nonprofit corporation to finance the construction of works for the storage, treatment, purification, or distribution of water or the construction of sewage, sewage treatment, and sewer facilities, if such works or facilities are needed

to serve a smaller municipality or rural area, and there is no existing public body able to construct and operate such works or facilities.

(d) Loans for transportation facilities or equipment; termination date.

No loans may be made for transportation facilities or equipment, pursuant to clause (2) of subsection (a) of this section, unless the Secretary determines (1) that there is being actively developed (or has been developed) for the urban or other metropolitan area served by the applicant a program, meeting criteria established by him, for the development of a comprehensive and coordinated mass transportation system; (2) that the proposed facilities or equipment can reasonably be expected to be required for such a system; and (3) if such program has not been completed, that there is an urgent need for the provision of the facilities or equipment to be commenced prior to the time that the program could reasonably be expected to be completed: Provided, That no such loan shall be made, except under a prior commitment, after June 30, 1963.

(e) Grants-in-aid to public entities to accelerate public works; restrictions and limitations.

The Secretary is authorized to make a grant-inaid from any allocation made for such purpose by the President under section 2642 of this title to any public entity described in clause (1) of subsection (a) of this section of not to exceed 50 per centum of the cost of construction of any project for public works or facilities, if such project would be eligible (without regard to the restrictions and limitations of subsections (b) and (c) of this section) for financial assistance under clause (1) of subsection (a) of this section in accordance with the rules and regulations of the Secretary (as in effect on September 14, 1962) relating to the types of public works and facilities to which such assistance may be extended.

(f) Assistance for cultural centers; restrictions and limitations.

The restrictions and limitations set forth in subsection (c) of this section shall not apply to assistance to municipalities, other political subdivisions and instrumentalities of one or more States, and Indian tribes, for specific projects for cultural centers, including but not limited to, museums, art centers and galleries, and theaters and other physical facilities for the performing arts, which would be of cultural, educational, and informational value to the communities and areas where the centers would be located. (Aug. 11, 1955, ch. 783, title II, § 202, 69 Stat. 643; June 30, 1961, Pub. L. 87-70, title V, § 501 (b), (c), (d) (1), (e)-(g), 75 Stat. 173, 174; Sept. 5, 1962, Pub. L. 87-634, 76 Stat. 435; Sept. 14, 1962, Pub. L. 87-658, § 5, 76 Stat. 543; Oct. 15, 1962, Pub. L. 87-808, § 2, 76 Stat. 920; Oct. 15, 1962, Pub. L. 87-809, 76 Stat. 920; Sept. 2, 1964, Pub. L. 88-560, title VI, § 601, 78 Stat. 798; Aug. 10, 1965, Pub. L. 89-117, title XI, § 1107, 79 Stat. 503; Nov. 3, 1966, Pub. L. 89-754, title IV, § 407, title X, § 1009, 80 Stat. 1273, 1286; May 25, 1967, Pub. L. 90-19, § 12 (b), (c), 81 Stat. 23; Aug. 1, 1968, Pub. L. 90-448, title IV, § 416(a), 82 Stat. 518; Dec. 31, 1970, Pub. L. 91-609, title VII, § 727(b), 84 Stat. 1802.)

REFERENCES IN TEXT

The Area Redevelopment Act, referred to in subsec. (b) (4), is classified to chapter 28 and section 1464 of this title, section 696 of Title 15, Commerce and Trade, and section 461 of Title 40, Public Buildings, Property, and Works.

Section 2642 of this title, referred to in subsecs. (b) (4) and (e) of this section, was, in the original, "section 9 of the Public Works Acceleration Act." As introduced in the Senate on May 28, 1962, S. 2965 contained a section 9, however, subsequent amendments to S. 2965 prior to its enactment as Pub. L. 87-658 eliminated section 9 from the bill. Provisions in section 3 of Pub. L. 87-658 seem to be identical to those contained in section 9 of the original bill, and therefore, for purposes of classification, "section 9 of the Public Works Acceleration Act" has been translated as "section 2642 of this title", since this appears to be the intent of Congress.

Part B of the Urban Growth and New Community Development Act of 1970, referred to in subsec. (b) (4), is classified to section 4511 et seq. of this title.

AMENDMENTS

1970 Subsec. (b) (4). Pub. L. 91-609 provided for establishment of a new community approved under part B of the Urban Growth and New Community Development Act of 1970.

1968-Subsec. (b) (4). Pub. L. 90-448 made paragraph inapplicable to financial assistance extended for the purpose of financing any project for public works or facilities to be provided in connection with the establishment of a new community approved under sections 3901-3914 of this title.

1967-Pub. L. 90-19, § 12(b), substituted "Secretary" for "Administrator" wherever appearing in subsecs. (b)(2), (3) and (c)-(e) of this section.

Subsec. (a). Pub. L. 90-19, § 12(c), substituted "Secretary of Housing and Urban Development" for "Housing and Home Finance Administrator".

1966 Subsec. (b) (4). Pub. L. 89-754, § 407, added item (iii) in the second sentence.

Subsec. (f). Pub. L. 89-754, § 1009, added subsec. (f). 1965 Subsec. (b)(4). Pub. L. 89-117, § 1107(b), removed the 150,000 population limit on the availability of public facilities loans to communities located in or near National Aeronautics and Space Administration research and development installations, making such loans available to such communities without regard to population. Subsec. (c). Pub. L. 89-117, § 1107(a), authorized the extending of financial assistance to private nonprofit corporations for the construction of sewer and water works needed to serve a smaller municipality or rural area if there are no existing public bodies to construct the needed facilities.

1964 Subsec. (a). Pub. L. 88-560, § 601(a), substituted "instrumentalities of one or more States" for "instrumentalities of States", and "of one or more States" for "in the same State."

Subsec. (b) (4). Pub. L. 88-560, § 601(b) (1), (2), inserted "(A)" preceding "to any municipality”, and substituted "2504 of this title" for "2504(a) of this title", and "; (B) to any public agency or instrumentality serving one or more municipalities, political subdivisions, or unincorporated areas in one or more States, unless each municipality, political subdivision, or unincorporated area to be served by the specific public work or facility for which assistance is sought under this section has a population less than the applicable figure under clause (A) according to such census" for ", or to any public agency or instrumentality of one or more municipalities or other political subdivisions having a population (or an aggregate population) equal to or exceeding that figure according to such census. This paragraph shall not apply to any financial assistance to be extended under subsection (a) of this section for the purpose of financing any project for public works or facilities to be initiated or accelerated as the result of a grant-in-aid from an allocation made by the President under section 2642 of this title." 1962-Subsec. (a). Pub. L. 87-808 inserted "and Indian

tribes."

Subsec. (b)(4). Pub. L. 87-658, § 5(a), provided that this paragraph shall not apply to assistance under sub

sec. (a) of this section for the purpose of financing any project to be started or accelerated as a result of a grantin-aid under section 2642 of this title.

Pub. L. 87-634 prohibited financial assistance under subsec. (a)(1) of this section to a community with a population of 150,000 or more in or near which is located a research or development installation of the National Aeronautics and Space Administration.

Subsec. (c). Pub. L. 87-808 inserted ", or an Indian tribe."

Subsec. (d). Pub. L. 87-809 substituted "June 30, 1963" for "December 31, 1962."

Subsec. (e). Pub. L. 87-658, § 5(b), added subsec. (e). 1961-Subsec. (a). Pub. L. 87-70, § 501 (b), eliminated provisions which required the Administrator to act through the Community Facilities Administration, inserted cl. (1), substituted "to finance the acquisition, construction, reconstruction, and improvement of facilities and equipment for use, by operation or lease or otherwise, in mass transportation service in urban areas, and for use in coordinating highway, bus, surface-rail, underground, parking and other transportation facilities in such areas" for "to finance specific public projects under State or municipal law" in cl. (2), and inserted sentence which authorize facilities and equipment referred to in cl. (2) to include land, but not public highways, and any other real or personal property needed for an economic, efficient, and coordinated mass transportation system.

Subsec. (b) (2). Pub. L. 87-70, § 501(c), empowered the Administrator, subject to the maximum maturity, to provide for the postponement of the payment of interest on not more than 50 per centum of any financial assistance under this section for a period up to ten years where such assistance does not exceed 50 per centum of the development cost and it is determined that the appliceut will experience above-average population growth and the project would contribute to orderly community development, economy, and efficiency.

Subsec. (b) (3). subsec. (b) (3).

Subsec. (b) (4). sec. (b) (4).

Pub. L. 87-70, § 501 (d)(1), added

Pub. L. 87-70, § 501 (e), added sub

Subsec. (c). Pub. L. 87-70, § 501 (f), substituted "under clause (1) of subsection (a) of this section" for "under this section."

Subsec. (d).

Pub. L. 87-70, § 501 (g), added subsec. (d).
TRANSFER OF FUNCTIONS

Transfer to the Secretary of Transportation of functions of the Department of Housing and Urban Development and of the Secretary of Housing and Urban Development and agencies and officers thereof under this chapter incidental to or necessary for the performance of functions transferred by section 1(a)(1) of Reorg. Plan No. 2 of 1968 insofar as functions hereunder involve assistance specifically authorized for mass transportation facilities or equipment, see section 1(a) (2) of Reorg. Plan No. 2 of 1968, eff. June 20, 1968, 33 F.R. 6965, 82 Stat. 1369, set out in the Appendix to Title 5, Government Organization and Employees.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 1493 of this title; title 49 section 1602.

§ 1493. Notes and obligations; forms and denominations; maturities; terms and conditions; interest rate; revolving fund.

(a) In order to finance activities under this chapter, the Secretary is authorized and empowered to issue to the Secretary of the Treasury, from time to time and to have outstanding at any one time, notes and other obligations in an amount not to exceed $650,000,000: Provided, That, of the funds obtained through the issuance of such notes and other obligations, $600,000,000 shall be available only for purchases and loans pursuant to clause (1) of section 1492 (a) of this title and $50,000,000 shall be available only for purchases and loans pursuant to clause (2) of such section. Such obligations shall be

in such forms and denominations, have such maturities and be subject to such terms and conditions as may be prescribed by the Secretary, with the approval of the Secretary of the Treasury. Such notes or other obligations shall bear interest at a rate determined by the Secretary of the Treasury which shall be not more than the higher of (1) 22 per centum per annnum, or (2) the average annual interest rate on all interest-bearing obligations of the United States then forming a part of the public debt as computed at the end of the fiscal year next preceding the issuance by the Secretary and adjusted to the nearest one-eighth of 1 per centum. The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations of the Secretary to be issued hereunder and for such purpose the Secretary of the Treasury is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of such notes and obligations. The Secretary of the Treasury may at any time sell any of the notes or other obligations acquired by him under this section. All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as public debt transactions of the United States.

(b) Funds borrowed under this section and any proceeds shall constitute a revolving fund which may be used by the Secretary in the exercise of his functions under this chapter. (Aug. 11, 1955, ch. 783, title II, § 203, 69 Stat. 643; Sept. 14, 1960, Pub. L. 86-788, § 2(c), 74 Stat. 1028; June 30, 1961, Pub. L. 87-70, title V, § 501 (d) (2), (h), (j), 75 Stat. 174, 175; May 25, 1967, Pub. L. 90-19, § 12(b), 81 Stat. 23.)

REFERENCES IN TEXT

The Second Liberty Bond Act, as amended, referred to in subsec. (a), is Act Sept. 24, 1917, ch. 56, 40 Stat. 288 as amended, which was classified to sections 745, 752754b, 757, 757b, 757c-757e, 758, 760, 764-766, 769, 771, 773, 774, and 801 of Title 31, Money and Finance.

AMENDMENTS

1967-Pub. L. 90-19 substituted "Secretary" for "Administrator" wherever appearing in subsecs. (a) and (b) of this section.

1961-Subsec. (a). Pub. L. 87-70, § 501 (d) (2), (h), increased the maximum amount of notes and other obligations that may be outstanding at any one time from $150,000,000 to $650,000,000, restricted use of $600,000,000 for purchases and loans pursuant to cl. (1) of section 1492 (a) of this title and $50,000,000 for purchases and loans pursuant to cl. (2) of such section, and substituted "a rate determined by the Secretary of the Treasury which shall be not more than the higher of (1) 21⁄2 per centum per annum, or (2) the average annual interest rate on all interest-bearing obligations of the United States then forming a part of the public debt as computed at the end of the fiscal year next preceding the issuance by the Administrator and adjusted to the nearest one-eighth of 1 per centum" for "a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on outstanding marketable obligations of the United States of comparable maturities as of the last day of the month preceding the issuance of such notes or other obligations."

Subsec. (d). Pub. L. 87-70, § 501 (j), substituted "which may be used" for "which may used."

1960-Subsec. (a). Pub. L. 86-788 substituted "$150,000,000" for "$100,000,000."

TRANSFER OF FUNCTIONS

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1492 of this title; title 49 section 1602.

§ 1494. Functions, powers and duties of Secretary; administrative expenses.

In the performance of, and with respect to, the functions, powers, and duties vested in him by this chapter the Secretary shall (in addition to any authority otherwise vested in him) have the functions, powers, and duties set forth in section 1749a of Title 12, except subsection (c) (2) of such section. Funds obtained or held by the Secretary in connection with the performance of his functions under this chapter shall be available for the administrative expenses of the Secretary in connection with the performance of such functions. (Aug. 11, 1955, ch. 783, title II, § 204, 69 Stat. 644; May 25, 1967, Pub. L. 90-19, § 12(b), 81 Stat. 23.)

AMENDMENTS 1967-Pub. L. 90-19 substituted "Secretary" for "Administrator" wherever appearing.

TRANSFER OF FUNCTIONS

§ 1495. Termination of authority to make loans under Reconstruction Finance Corporation Liquidation

Act.

CODIFICATION

Section, act Aug. 11, 1955, ch. 783, title II, § 205, 69 Stat. 644, prohibited the making of loans under section 459 of Title 40 after August 11, 1955, except pursuant to an application for such loan filed prior to such date, and has been omitted as executed.

§ 1496. Definition of "States."

As used in this chapter, the term "States" means the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Trust Territory of the Pacific Islands, and the Territories and possessions of the United States. (Aug. 11, 1955, ch.

783, title II, § 206, as added Aug. 7, 1956, ch. 1029, title VI, § 603, 70 Stat. 1114, and amended Dec. 24, 1969, Pub. L. 91-152, title IV, § 403(b), 83 Stat. 395.)

AMENDMENTS 1969-Pub. L. 91-152 inserted reference to the Trust Territory of the Pacific Islands.

« Previous Continue »

Books

United States Code, Volume 9