Page:United States Statutes at Large Volume 68 Part 1.djvu/679

 68

STAT.]

647

PUBLIC LAW 560-AUG. 2, 1954

ments thereof, will facilitate progress in the reduction of the vulnerability of congested urban areas to enemy attack. SEC. 812. Title V of the Housing Act of 1949, as amended, is hereby amended as follows: (a) At the end of the first sentence of section 511 strike "$8,500,000" and insert "$100,000,000". (b) I n section 512, strike "$170,000" and insert "$2,000,000". (c) I n section 513, strike "$850,000" and insert "$10,000,000". SEC. 813. Section 504 of the Housing Act of 1950, as amended, is hereby repealed.

Ante, p. 320. Funds for issuance of notes, etc,

12 USC 1701J. Repeal.

RECORDS

SEC. 814. Every contract between the Housing and Home Finance Agency (or any official or constituent thereof) and any person or local body (including any corporation or public or private agency or body) for a loan, advance, grant, or contribution under the United States Housing Act of 1937, as amended, or the Housing Act of 1949, as amended, shall provide that such person or local body shall keep such records as the Housing and Home Finance Agency (or such official or constituent thereof) shall from time to time prescribe, including records which permit a speedy and effective audit and will fully disclose the amount and the disposition by such person or local body of the proceeds of the loan, advance, grant, or contribution, or any supplement thereto, the capital cost of any construction project for which any such loan, advance, grant, or contribution is made, and the amount of any private or other non-Federal funds used or grants-in-aid made for or in connection with any such project. No mortgage covering new or rehabilitated multifamily housing (as defined in section 227 of the National Housing Act, as amended) shall be insured unless the mortgagor certifies that he will keep such records as are prescribed by the Federal Housing Commissioner at the time of the certification and that they will be kept in such form as to permit a speedy and effective audit. The Housing and Home Finance Agency or any official or constituent agency thereof shall have access to and the right to examine and audit such records. This section shall become effective on the first day after the first full calendar month following the date of approval of the Housing Act of 1954.

Ante, p. 607.

Effective date.

APPLICANTS FOR ASSISTANCE REQUIRED TO SUBMIT SPECIFICATIONS

SEC. 815. Every contract for a loan, grant, or contribution under the United States Housing Act of 1937, as amended, or title I of the Hous- 42 USC i43o. ing Act of 1949, as amended, for the construction of a project shall i706d. ° require the submission of specifications with respect to such construction prior to the authorization for the award of the construction contract and the submission of data with respect to the acquisition of land prior to the authorization to acquire such land. AUDITS UNDER PUBLIC HOUSING ACT OF 1937; COMPl'ROLLER GENERAL

SEC. 816. Every contract for loans or annual contributions under the United States Housing Act of 1937, as amended, shall provide that the Public Housing Commissioner and the Comptroller General of the United States, or any of their duly authorized representatives, shall, for the purpose of audit and examination, have access to any books, documents, papers, and records of the public housing agency entering into such contract that are pertinent to its operations with respect to financial assistance under the United States Housing Act of 1937, as amended.

40 USC 1430.

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