Page:United States Statutes at Large Volume 62 Part 1.djvu/1219

 62 STAT.] 80TH CONG. , 2D SESS.-CH. 773-JUNE 30, 1948 except for the limitation in amount hereinbefore specified, the admin- istrative expenses and other obligations of said Corporation shall be incurred, allowed, and paid in accordance with title IV of the Act of June 27, 1934, as amended (12 U. S . C . 1724 -1730). Home Owners' Loan Corporation: Not to exceed $2,300,000 shall be available for administrative expenses, including health-service pro- gram as authorized by law (5 U. S . C . 150), which shall be on an accrual basis and shall be exclusive of interest paid, depreciation, properly capitalized expenditures, expenses (including services per- formed on a force account, contract, or fee basis, but not including other personal services) in connection with the acquisition, protection, operation, maintenance, improvement, or disposition of real or per- sonal property belonging to said Corporation or in which it has an interest, and legal fees and expenses, and said Corporation may utilize and may make payment for services and facilities of the Fed- eral home-loan banks, the Federal Reserve banks, the Home Loan Bank Board, the Federal Savings and Loan Insurance Corporation, and other agencies of the Government: Provided, That, notwith- standing any other provisions of this Act, except for the limitation in amount hereinbefore specified, the administrative expenses and other obligations of said Corporation shall be incurred, allowed, and paid in accordance with the Home Owners' Loan Act of 1933, as amended (12 U. S . C. 1461-1468): Provided, That all right, title, and interest of the Home Owners' Loan Corporation in the capital stock of the Federal Savings and Loan Insurance Corporation is hereby trans- ferred to the Secretary of the Treasury and the Secretary of the Treasury is authorized and directed to cancel bonds of the Home Owners' Loan Corporation in an amount equal to the par value of the stock of the Federal Savings and Loan Insurance Corporation so transferred, plus accrued dividends thereon which, notwithstanding any other provision of law, shall be computed at a rate approximating the average interest cost incurred by the Home Owners' Loan Corpora- tion on its total borrowings during each respective fiscal year: Pro- vided further, That not to exceed $5,000 of the funds of said Corporation shall be available until June 30, 1952, for the payment of such expenses as the Chairman of the Home Loan Bank Board or his designee or designees may find necessary for winding up the affairs and effecting the dissolution of the United States Housing Corporation and the United States Housing Corporation of Pennsylvania. Federal Housing Administration: In addition to the amounts avail- able by or pursuant to law (which shall be transferred to this authori- zation) for the administrative expenses of the Federal Housing Ad- ministration in carrying out duties imposed by or pursuant to law, not to exceed $19,000,000 of the various funds of the Federal Housing Administration as follows: (1) The mutual mortgage insurance fund; (2) the housing insurance fund; (3) the account in the Treas- ury comprised of funds derived from premiums collected under authority of section 2 (f), title I of the National Housing Act, as amended (12 U. S . C . 1701); and (4) the war housing insurance fund shall be available for expenditure, in accordance with the provisions of said Act for the administrative expenses of the Federal Housing Administration, including not to exceed $1.500 for periodicals and newspapers; not to exceed $1,500 for contract actuarial services; and health-service program as authorized by law (5 U. S . C . 150): Pro- vided, That necessary expenses of the Administration (including services performed on a contract or fee basis, but not including other personal services) in connection with the acquisition, protection, com- pletion, operation, maintenance, improvement, or disposition of real or personal property of the Administration acquired under authority 1189 48 Stat. 1255. 12 U. 8. C., Supp. I, § 1725, 1729 notes. Post, p. 1240. 60 Stat. 903. 48 Stat. 128. 12U. S. C., Supp. I, 1462 et seq. Post, p. 1239. Transfer of capital stock. Liquidation of U. S. IlousIn ('orporatlonm. Ante, p. 1034; pod, p. 1290. 53 Stat. 805 . 12 U.S.C. § 3(f). 60 Stat. 903 . Nonadministrative expenses.

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