Page:United States Statutes at Large Volume 68 Part 1.djvu/637

 68 S T A T. ]

PUBLIC LAW 560-AUG. 2, 1954

605

section. Those purchases shall be made at a price which will provide an investment yield of not less than the yield obtainable from other investments authorized by this section. Debentures so purchased shall be canceled and not reissued." SEC. 125. Title II of said Act, as amended, is hereby further amended ^ a^^^lu^ho^ft "^f" by adding at the end thereof the following new section to transfer to Title ii. title II the mortgage insurance program in connection with the sale ^^ "^^ ^^^^' of certain publicly owned property as contained in section 610 of title VI; the insurance of mortgages to refinance existing loans insured under section 608 of title VI and sections 903 and 908 of title IX; ly^s^byfrsbg.^'*^' and to authorize the insurance under title II of mortgages assigned to the Commissioner under insurance contracts and mortgages held by the Commissioner in connection with the sale of property acquired under insurance contracts: a MISCELLANEOUS HOUSING

INSURANCE

"SEC. 223, (a) Notwithstanding any of the provisions of this title^ and without regard to limitations upon eligibility contained in section 203 or section 207, the Commissioner is authorized, upon application by the mortgagee, to insure or make commitments to insure under section 203 or section 207 of this title any mortgage— "(1) executed in connection with the sale by the Government, or any agency or official thereof, of any housing acquired or constructed under Public Law 849, Seventy-sixth Congress, as amended; Public Law 781, Seventy-sixth Congress, as amended; or Public Laws 9, 73, or 353, Seventy-seventh Congress, as amended (including any property acquired, held, or constructed in connection with such housing or to serve the inhabitants thereof); or "(2) executed in connection with the sale by the Public Housing Administration, or by any public housing agency with the approval of the said Administration, of any housing (including any property acquired, held, or constructed in connection with such housing or to serve the inhabitants thereof) owned or financially assisted pursuant to the provisions of Public Law 671, Seventy-sixth Congress; or "(3) executed in connection with the sale by the Government, or any agency or official thereof, of any of the so-called Greenbelt towns, or parts thereof, including projects, or parts thereof, known as Greenhills, Ohio; Greenbelt, Maryland; and Greendale, Wisconsin, developed under the Emergency Relief Appropriation Act of 1935, or of any of the village properties or employee's housing under the jurisdiction of the Tennessee Valley Authority; or "(4) executed in connection with the sale by a State or municipality, or an agency, instrumentality, or political subdivision of either, of a project consisting of any permanent housing (including any property acquired, held, or constructed in connection therewith or to serve the inhabitants thereof), constructed by or on behalf of such State, mvmicipality, agency, instrumentality, or political subdivision, for the occupancy of veterans of World W a r II, or Korean veterans, their families, and others; or "(5) executed in connection with the first resale, within two years from the date of its acquisition from the Government, of any portion of a project or property of the character described in paragraphs (1), (2), and (3) above; or ''(6) given to refinance an existing mortgage insured under section 608 of title VI prior to the effective date of the Housing

12 USC 1709, ^ ^^*

4 2^u^sc^i"2i1590. Stat. 14, '197, sio.

i o ^u°s c^l's 01isos.

49 Stat. 115.

12 USC 1743.

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