Page:United States Statutes at Large Volume 70.djvu/1153

 70 S T A T. ]

P U B U C LAW 1020-AUG. 7, 1956

"Notwithstanding any other provision of this section, the price to be paid by the Association for mortgages purchased in its operations under this section, during a period of one year from the date of the enactment of the Housing Act of 1956, shall be not less than 99 per centum of the unpaid principal amount thereof at the time of purchase, with adjustments for interest and any comparable items." SEC. 206. Section 305(f) of such Act is amended by striking out "by the Housing Amendments of 1955" and inserting in lieu thereof "on or after August 11, 1955". SEC. 207. Section 305(e) of such Act is amended— (1) by inserting "and purchase transactions" after the words "advance commitment contracts"; (2) inserting "or transactions" after the words "if such commitments"; and (3) by striking out "but not more than $5,000,000 of such authorization shall be available for such commitments in any one State" and inserting in lieu thereof "but such commitments in any one State shall not exceed $5,000,000 outstanding at any one time". SEC. 208. So much of section 305(c) of such Act as precedes the proviso is amended by striking out "purchasers" and inserting in lieu thereof "purchases". SEC. 209. (a) The last sentence of section 306(c) of such Act is amended by striking out "and subsection (e) of this section". (b) Section 306(e) of such Act is repealed.

1097

f2 u#c m o. f| fj^^ fs^^^

^^ st^u 6^17^ esstat eis 619. 12 USC ira'i.

TITLE III — S L U M C L E A R A N C E AND U R B A N R E N E W A L SEC. 301. Section 102(d) of the Housing Act of 1949 is amended by adding at the end thereof the following: "Notwithstanding section 110 (h) or the use in any other provision of this title of the term 'local public agency' or 'local public agencies' the Administrator may make advances of funds under this subsection for surveys and plans for an urban renewal project (including General Neighborhood Renewal Plans as hereinafter defined) to a single local public body which has the authority to undertake and carry out a substantial portion, as determined by the Administrator, of the surveys and plans or the project respecting which such surveys and plans are to be made: Provided, That the application for such advances shows, to the satisfaction of the Administrator, that the filing thereof has been approved by the public body or bodies authorized to undertake the other portions of the surveys and plans or of the project which the applicant is not authorized to undertake." SEC. 302. (a)(1) Section 105(a) of the Housing Act of 1949 is amended by striking out "(including any redevelopment plan constituting a part thereof)". (2) Section 110(b) of such Act is amended by inserting "and" after the semicolon at the end of clause (1), and by striking out "; and (3) " and all that follows and inserting in lieu thereof a period. (b)(1) Section 110(c) of such Act is amended to read as follows: "(c) 'Urban renewal project' or 'project' may include undertakings and activities of a local public agency in an urban renewal area for the elimination and for the prevention of the development or spread of slums and blight, and may involve slum clearance and redevelopment in an urban renewal area, or rehabilitation or conservation in an urban renewal area, or any combination or part thereof, in accordance

ff f^i^

f^^i

^| ^^^ ^^^^

68 Stat. 625. ^s sta^ 62|^^

�