Page:United States Statutes at Large Volume 70.djvu/410

 354

12 USC

note>

PUBLIC LAW 62a-JUNE 27, 1956

1811

48 Stat. 1246.

63 StaU 905. 12 USC 1702.

[70 ST A T.

be covered into the Treasury upon approval of this Act, and (3) the obligation of the Administrator of the Housing and Home Finance Agency to repay the Treasury for advances from said fund, together with interest thereon, is hereby canceled. Office of the Administrator, revolving fund (liquidating programs): During the current fiscal year not to exceed $2,165,000 shall be available for administrative expenses (including not to exceed $150,000 for travel), but this amount shall be exclusive of costs of services performed on a contract or fee basis in connection with termination of contracts and legal services on a contract or fee basis and of payment for services and facilities of the Federal Reserve banks or any member thereof, any servicer approved by the Federal National Mortgage Association, the Federal home-loan banks, and any insured bank within the meaning of the Act of August 23, 1935, as amended, creating the Federal Deposit Insurance Corporation (12 U.S.C. 264) which has been designated by the Secretary of the Treasury as a depository of public money of the United States: Provided, That all expenses, not otherwise specifically limited in connection with the programs provided for under this head shall not exceed $7,900,000, but this limitation shall not apf)ly to expenses (other than for personal services) in connection with disposition of federally owned projects. Federal National Mortgage Association: Not to exceed $3,775,000 shall be available for administrative expenses, which shall be on an accrual basis, and shall be exclusive of interest paid, expenses (including expenses for fiscal agency services performed on a contract or fee basis) in connection with the issuance and servicing of obligations, depreciation, properly capitalized expenditures, fees for servicing mortgages, expenses (including services performed 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 personal property belonging to said Association or in which it has an interest, cost of salaries, wages, travel, and other expenses of persons employed outside of the continental United States, expenses of services performed on a contract or fee basis in connection with the performance of legal services, and all administrative expenses reimbursable from other Government agencies; and said Association may utilize and may make payment for services and facilities of the Federal Reserve banks and other agencies of the Government: Provided, That the distribution of administrative expenses to the accounts of the Association shall be made in accordance with generally recognized accounting principles and practices: Provided further, That not to exceed $150,000 shall be available for expenses of travel. Federal Housing Administration: I n addition to the amounts available by or pursuant to law (which shall be transferred to this authorization) for the administrative expenses in carrying out duties imposed by or pursuant to law, not to exceed $6,900,000 of the various funds of the Federal Housing Administration shall be available for expenditure, in accordance with the National Housing Act, as amended (12 U.S.C. 1701): Provided, That, except as herein otherwise provided, all expenses and obligations of said Administration shall be incurred, allowed, and paid in accordance with the provisions of said Act: Provided further, That not to exceed $445,000 shall be available for expenses oi travel: Provided further, That funds available for expenditure shall be available for contract actuarial services (not to exceed $1,500); and purchase of periodicals and newspapers (not to exceed $750): Provided further. That expenditures for nonadministrative expenses classified by section 2 of Public Law 387, approved October 25, 1949, shall not exceed $36,700,000.

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