Page:United States Statutes at Large Volume 73.djvu/554

 516

PUBLIC LAW 86-256-SEPT. 14, 1959

[73 S T A T.

herein the term "administrative expenses" shall be construed to include all salaries and wages, services performed on a contract or fee basis, and travel and other expenses, including the purchase of equipment and supplies, of administrative offices, but this amount shall be exclusive of costs of services performed on a contract or fee basis in connection with the termination of contracts or in the performance of legal services: Provided further, That the distribution of administrative expenses to the account shall be made in accordance with generally recognized accounting principles and practices. HOUSING AND HOME FINANCE AGENCY LlMPTATION ON ADMINISTRATIVE EXPENSES, OFFICE OF THE ADMINISTRATOR, COLLEGE HOUSING LOANS

Not to exceed $1,723,000 shall be available for all administrative expenses, which shall be on an accrual basis, of carrying out the functions of the Administrator under the program of housing loans to educational institutions (title IV of the Housing Act of 1950, as amended, 64 Stat. 77. ^2 U.S.C. l749-l749d), but this amount shall be exclusive of payment for services and facilities of the Federal Eeserve banks or any member thereof, the Federal home-loan banks, and any insured bank within the meaning of the Act creating the Federal Deposit Insurance Corpora?2 ^u^s c'l's 11 tion (Act of August 23, 1935, as amended, 12 U.S.C. 264) which has n°tebeen designated by the Secretary of the Treasury as a depository of public money of the United States. LIMITATION ON ADMINISTRATIVE EXPENSES, OFFICE OF THE ADMINISTRATOR, PUBLIC FACILITY LOANS

Not to exceed $525,000 of funds in the revolving fund established 69 Stat. 642. pursuant to title II of the Housing Amendments of 1955, as amended, 42 USC 1491- shall be available for administrative expenses, but this amount shall be 1496. exclusive of payment for services and facilities of the Federal Reserve banks or any member thereof, the Federal home-loan banks, and any insured bank within the meaning of the Act creating the Federal Deposit Insurance Corporation (Act of August 23, 1935, as amended, Sa^u^sc^sii 12 U.S.C. 264) which has been designated by the Secretary of the note. Treasury as a depository of public money of the United States. LIMITATION ON ADMINISTRATIVE EXPENSES, OFFICE OF THE ADMINISTRATOR, REVOLVING F U N D (LIQUIDATING PROGRAMS)

During the current fiscal year not to exceed $653,000 shall be available for administrative expenses, but this amount shall be exclusive of expenses necessary in the case of defaulted obligations to protect the interests of the Government 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.

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