Page:United States Statutes at Large Volume 78.djvu/548

 506

7o^sta!.^\'u4f 75 Stat. 175. ^^42 USC 1491es'Stat. 272.

PUBLIC LAW 88-451-AUG. 19, 1964

[78 STAT.

" (b) The Secretary of Agriculture is authorized to compromise or relea,se such portion of a borrower's indebtedness under programs administered by the Rural Electrification Administration in A l a ^ a as he finds necessary because of loss, destruction, or damage of property resulting from the 1964 earthquake and subsequent seismic waves. ' SEC. 52. The Housing and Home Finance Administrator is authorized to compromise or release such portion of any note or other obligation held by him with respect to property in Alaska pursuant to <i ^® ^ of the Housing Amendments of 1955 or included within the ^<l rovolving fund for liquidating programs established by the Independent Offices Appropriation Act of 1955, as he finds necessary because of loss, destruction, or damage to facilities securing such obligations by the 1964 earthquake and subsequent seismic waves. uURBAN RENEWAL

izSion*^' ^"*''°'" 42 us^c 1^62^'

75"tat^*i6V^' 42 USC 1453.

"SEC. 53. The Housing and Home Finance Administrator is authorized to enter into contracts for grants not exceeding $25,000,000 for urban renewal projects in Alaska, including open land projects, under section 111 of the Housing Act of 1949, which he determines will aid the communities in which they are located in reconstruction and redevelopment made necessary by the 1964 earthquake and subsequent seismic waves. Such authorization shall be in addition to and separate from any grant authorization contained in section 103(b) of said Act. "The Administrator may increase the capital grant for a pro^'ect assisted under this section to not more than 90 per centum of net project cost where he determines that a major portion of the project area has either been rendered unusable as a result of the 1964 earthquake and subsequent seismic waves or is needed in order adequately to provide, in accordance with the urban renewal plan for the project, new locations for persons, businesses, and facilities displaced by the earthquake. " E X T E N S I O N OF TERM OF H O M E DISASTER LOANS

"SEC. 54. Loans made pursuant to paragraph (1) of section 7(b) of the Small Business Act (72 Stat. 387), as amended (15 U.S.C. 636(b)), for the purpose of replacing, reconstructing, or repairing dwellings in Alaska damaged or destroyed by the 1964 earthquake and subsequent seismic waves, may have a maturity of up to thirty years: Provided, That the provisions of section 7(c) of said Act shall not be applicable to such loans. "MODIFICATION OF CIVIL W^ORKS PROJECTS

"SEC. 55. The Chief of Engineers, under the direction of the Secretary of the Army, is hereby authorized to make such modifications to previously authorized civil works projects in Alaska adversely affected by the 1964 earthquake and subsequent seismic waves as he finds necessary to meet changed conditions and to provide for current and reasonably prospective requirements of the communities they serve, at an estimated cost of $10,000,000. " P U R C H A S E O F ALASKA STATE BONDS

69 Stat. 643. 1494.^^^ ^^^^'

"SEC. 56. The Housing and Home Finance Administrator is authorized to purchase, in accordance with the provisions of sections 202(b), 203, and 204 of title II of the Housing Amendments of 1955, the securities and obligations of, or make loans to, the State of Alaska to finance any part of the programs needed to carry out the reconstruc-

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