Page:United States Statutes at Large Volume 79.djvu/116

 76

PUBLIC LAW 89-15-APR. 26, 1965 "LABOR MOBILITY DEMONSTRATION

Limitations.

PROJECTS

"SEC. 104, (a) During the period ending June 30, 1967, the Secretary of Labor shall develop and carry out, in a limited number of geographical areas, pilot projects designed to assess or demonstrate the effectiveness in reducing unemployment of programs to increase the mobility of unemployed workers by providing assistance to meet their relocation expenses. I n carrying out such projects the Secretary may provide such assistance, in the form of grants or loans, or both, only to involuntarily unemployed individuals who cannot reasonably be expected to secure full-time employment in the community in which they reside, have bona fide offers of employment (other than temporary or seasonal employment), and are deemed qualified to perform the work for which they are being employed. ^^ (h) Loaus O grauts provided under this section shall be subject T to such terms and conditions as the Secretary shall prescribe, with loans subject to the following limitations: " (1) there is reasonable assurance of repayment of the loan; "(2) the credit is not otherwise available on reasonable terms from private sources or other Federal, State, or local programs; "(3) the amount of the loan, together with other funds available, is adequate to assure achievement of the purposes for which the loan is made; "(4) the loan bears interest at a rate not less than (A) a rate determined by the Secretary of the Treasury, taking into consideration the average market yield on outstanding Treasury obligations of comparable maturity, plus (B) such additional charge, if any, toward covering other costs of the program as the Secretary may determine to be consistent with its purposes; and " (5) the loan is repayable within not more than ten years. "(c) Of the funds appropriated for a fiscal year to carry out this Act, not more than $5,000,000 may be used for the purposes of this section. a,T R A I N E E

II ulc 2^5'^72.

[79 STAT.

P L A C E M E N T ASSISTANCE DEMONSTRATION

PROJECTS

"SEC. 105. During the period ending June 30, 1967, the Secretary of Labor shall develop and carry out experimental and demonstration projects to assist in the placement of persons seeking employment through a public employment office who have successfully completed or participated in a federally assisted or financed training, counseling, work training, or work experience program and who, after appropriate counseling, have been found by the Secretary to be qualified and suitable for the employment in question, but to whom employment is or may be denied for reasons other than ability to perform, including difficulty in securing bonds for indemnifying their employers against loss from the infidelity, dishonesty, or default of such persons. I n carrying out these projects the Secretary may make payments to or contracts with employers or institutions authorized to indemnify employers against such losses. Of the funds appropriated for fiscal years ending June 30, 1966, and June 30, 1967, not more than $200,000 and $300,000, respectively, may be used for the purpose of carrying out this section." (b) Section 102(2) of the Act is amended by striking out "104" and inserting in lieu thereof "107".

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