Page:United States Statutes at Large Volume 78.djvu/848

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PUBLIC LAW 88-560-SEPT. 2, 1964 " INVESTMENT OF CERTAIN FUNDS I N ACCOUNTS OF INSURED

12 USC 1464.

[78 STAT. INSTITUTIONS

"SEC. 409. The savings accounts and share accounts held by institutions insured by the Corporation, to the extent they are insured by the (Corporation, shall be lawful investments and may be accepted as security for all public funds of the United States, fiduciary and trust funds under the authority or control of the United States or any officer or officers thereof, and for the funds of all corporations organized under the laws of the United States (subject to any regulatory authority otherwise applicable), regardless of any limitation of law upon the investment of any such funds or upon the acceptance of security for the investment or deposit of any of such funds.'' SEC. 910. Section 5(c) of the Home Owners' Loan Act of 1933 is amended by inserting after the second paragraph the following new paragraph: "Without regard to any other provision of this subsection, any such association is authorized to invest in loans, obligations, and advances of credit (all of which are hereinafter referred to as 'loans") made for the payment of expenses of college or university education, but no association shall make any investment in loans under this paragraph if the prinicpal amount of its investment in such loans, exclusive of any investment which is or which at the time of its making was otherwise authorized, would thereupon exceed 5 per centum of its assets." TITLE X—MISCELLANEOUS OPEN-SPACE PROGRAM—GRANT AUTHORIZATION

11 usi:' /s^olja

^^^- ^^^1- Section 702(b) of the Housing Act of 1961 is amended— (1) by striking out "$50,000,000" and inserting in lieu thereof "$75,000,000"; and (2) by adding at the end thereof the following: "All funds so appropriated shall remain available until expended." COLLEGE HOUSING

64 Stat. 80; ^^12 USC ^17*49c.

SEC. 1002. The second paragraph of section 404(b) of the Housing j^ct of 1950 is amended by striking out the period and inserting in lieu thereof the following: ": Provided, That where the law of any State in effect on the date of enactment of the Housing Act of 1964 prevents the institution or institutions, for whose students or students and faculty the housing is to be provided, from cosigning the note, the Administrator shall require the corporation and the proposed project to be approved by such institution (or by any one or more of such institutions) in lieu of such cosigning." ACQUISITION OF CERTAIN HOUSING BY SECRETARY OF DEFENSE

73 Stat. 683.

42 USC 1594a.

56 Stat. 30 3. 12 USC 1743.

SEC. 1003. The first sentence of section 404(a) of the Housing Amendments of 1955 is amended by inserting before the period at the end thereof the following: ", or (3) any housing situated on or adjacent to a military installation which was (A) completed prior to July 1, 1952, (B) considered by the Department of Defense, prior to construction, as being necessary to meet an existing military family housing need and considered as military housing by the Federal Housing Commissioner, and (C) financed with mortgages insured under section 608 of the National Housing Act, including adjacent property constructed primarily to provide commercial facilities for the occupants of such housing".

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