Page:United States Statutes at Large Volume 106 Part 1.djvu/786

 106 STAT. 754 PUBLIC LAW 102-325—JULY 23, 1992 Corporation the affidavits from all declining insurers, as well as an affidavit of the institution's financial advisor specifically identifying the pertinent terms of the proposed transaction, the requested insurance coverage, and the date on which complete documentation concerning the proposed transaction was submitted to each insurer and certifying that such information was provided to each insurer that declined coverage. "(C) The proceeds of the assets or obligations insured or guaranteed by the Corporation pursuant to this paragraph shall be used exclusively for the renovation, repair, replacement, or construction of academic and educational

facilities and shall not be used for the renovation, repair, replacement, or construction of athletic facilities. (D) The aggregate par value of assets and obligations insured or guaranteed by the Corporation under this paragraph (5) shall not exceed— "(i) $100,000,000 per year during calendar years 1993, 1994, and 1995; or "(ii) $150,000,000 per year during calendar years 1996 and 1997. "(E) The aggregate dollar amount of transactions under this paragraph (5) shall not exceed— "(i) in calendar year 1993, 1994, or 1995, 10 percent of the aggregate dollar amount of assets and obligations directly covered by primary insurance or guarantees issued by the Corporation under this section in such year; or "(ii) in calendar year 1996 or 1997, 15 percent of the aggregate dollar amount of assets and obligations directly covered by primary insurance or guarantees issued by the Corporation under this section in such year". SEC. 708. REDESIGNATION OF AND AMENDMENTS TO PART H. (a) REDESIGNATION. — Part H of title VII of the Act (20 U.S.C. 11321 et seq.) is redesignated as part E. (b) RECOVERY OF PAYMENTS. — Section 781 of the Act (20 U.S.C. 11321) is amended by striking "part A or B of this title" each place such term appears and inserting "part A of this title, or part B of this title as such part was in effect prior to the enactment of the Higher Education Amendments of 1992,. (c) ELIMINATION OF UNNECESSARY DEFINITIONS. —Section 782 of 20 USC ii32i-i. the Act (20 U.S.C. 1089) is amended— (1) by striking paragraphs (5) and (7); and (2) by redesignating paragraphs (6), (8), and (9) as paragraph (5), (6), and (7), respectively. (d) FORGIVENESS OF CERTAIN LOANS. —Section 783 of the Act (20 U.S.C. 1132i-2) is amended to read as follows: "FORGIVENESS OF CERTAIN LOANS "SEC. 783. (a) FORGIVENESS AUTHORIZED. —The Secretary may forgive the entire balance due, or any portion thereof, on any loan made under part C or part F of this title (as in effect on the day before the date of enactment of the Higher Education Amendments of 1992), or under the College Housing and Academic Facilities Loan program, or any other federally subsidized, insured,

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