Page:United States Statutes at Large Volume 79.djvu/524

 484

PUBLIC LAW 89-117-AUGUST 10, 1965

[79 STAT.

new leases with any person, firm, organization, or other entity, in order to aid in the liquidation of obligations of the Administration hereunder. "FUND

15 u*sc 6^71°"

7 2^"!^' 6 T^' 15 USC 695.

"SEC. 403. There is hereby established a revolving fund for use by the Administration in carrying out the provisions of this title. Initial capital for such fund shall consist of not to exceed $5,000,000 transferred from the fund established under section 4(c) of the Small Business Act: Provided, That the last sentence of such section 4(c) shall not apply to any amounts so transferred. Into the fund established by this section there shall be deposited all receipts from the guarantee program authorized by this title. Moneys in such fund not needed for the payment of current operating expenses or for the payment of claims arising under such program may be invested in bonds or other obligations ot, or bonds or other obligations guaranteed as to principal and interest by, the United States; except that moneys provided as initial capital for such fund shall be returned to the fund established by section 4(c) of the Small Business Act, in such amounts and at such times as the Administration determines to be appropriate, whenever the level of the fund herein established is sufficiently high to permit the return of such moneys without danger to the solvency of the program under this title." (^) Section 201 of such Act is amended by striking out the third sentence and inserting in lieu thereof the following: "The powers conferred by this Act upon the Administration and upon the Administrator, with the exception of those conferred by titles IV and V hereof, shall be exercised through the Small Business Investment Division and through the DejDuty Administrator appointed hereunder. The powers conferred by this Act upon the Administration and upon the Administrator by titles IV and V hereof shall be exercised through such division, section, or other personnel as the Administrator in his discretion shall determine." (c) The table of contents of such Act is amended by inserting after the analysis of title III the following: "TITLE IV—LEASE GUARANTEES "Sec. 401. Authority of the Administration. "Sec. 402. Powers. ••Sec. 403. Fund."

Ante, p. 207.

(^(j) Section 4(c) of the Small Business Act is amended— (1) by striking out "$1,716,000,000" and inserting in lieu thereof "$1,721,000,000,"; and (2) by striking out the period at the end of the fifth sentence and inserting in lieu thereof the following: ": Provided, That such limitation shall not apply to functions under title IV thereof." AMENDMENT OF SECTION 3 1 6 OF THE H O U S I N G ACT OF 1954

68 Stat. 630. ^.^. Code 5D.C. ^„^..-

717a. 14^65 ^^*^ ^^^°

SEC. 317. The first full paragraph of section 316(2) of the Housing -^^^ ^^ l^O'i: is amended by striking out the first parenthetical clause and inserting in lieu thereof the following: " (as such projects are now ^^ "^^y hereafter be defined in title I of the Housing Act of 1949, including but not limited to projects authorized without regard to the residential or nonresidential character or reuse of the urban renewal area)".

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