Page:United States Statutes at Large Volume 100 Part 2.djvu/436

 100 STAT. 1538 f »' V k J: lpi

PUBLIC LAW 99-498—OCT. 17, 1986

hospital, no part of the net earnings of which inures to the benefit of any private shareholder or individual; "(3) any corporation (no part of the net earnings of which inures to the benefit of any private shareholder or individual)— "(A) established for the sole purpose of providing housing or other educational facilities for students or students and faculty of one or more institutions included in paragraph (1) V without regard to their membership in or affiliation with 1 any social, fraternal, or honorary society or organization; and "(B) upon dissolution of which all title to any property purchased or built from the proceeds of any loan which is made under section 761, will pass to such institution (or to anyone or more of such institutions) unless it is shown to -1^''' 0J m:?t' ic the satisfaction of the Secretary that such property or the " J proceeds from its sale will be used for some other nonprofit s educational purpose; Grants. "(4) any agency, public authority, or other instrumentality of V any State, established for the purpose of providing or financing housing or other educational facilities for students or faculty of ' any educational institution included in paragraph (1), but nothing in this paragraph shall require an institution included in paragraph (1) to obtain loans or grants through any instrumen-i tality included in this paragraph; and f"(5) any nonprofit student housing cooperative corporation established for the purpose of providing housing for students or students and faculty of any institution included in paragraph (1). In the case of any loan made under section 761 to a corporation «-gS fi 08"' rti described in paragraph (3) which was not established by the institution or institutions for whose students or students and faculty it would provide housing, or to a student housing cooperative corporation described in paragraph (5), and in the case of any loan which is obtained from other sources by such a corporation, the Secretary shall require that the note securing such loan be cosigned by such State and local institution (or by any one or more of such institutions). Where the governments. law of any State in effect on the date of enactment of the Housing 12 USC 1703 Act of 1964 prevents the institution or institutions, for whose stunote. dents or students and faculty housing is to be provided, from cosigning the note, the Secretary shall require the corporation and the proposed project to be approved by such institution (or by any one or more of such institutions) in lieu of such cosigning. "(c) UNDERGRADUATE ACADEMIC FACILITIES.—(1) Except as provided in paragraph (2), the term 'undergraduate academic facilities' means structures suitable for use as classrooms, laboratories, libraries, and related facilities, the primary purpose of which is the instruction of students pursuing a baccalaureate degree, or for administration of the educational programs serving such students, of an institution of higher education, and maintenance, storage, or utility facilities essential to operation of the foregoing facilities, as well as infirmaries or other facilities designed to provide primarily Handicapped for outpatient care of student and instructional personnel. Plans for persons. such facilities shall be in compliance with such standards as the Secretary may prescribe or approve in order to insure that projects assisted with the use of Federal funds under this title shall be, to the extent appropriate in view of the uses to be made of the facilities, accessible to and usable by handicapped persons.

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