Page:United States Statutes at Large Volume 79.djvu/537

 79 STAT.]

PUBLIC LAW 89-117-AUGUST 10, 1965 USE OF F U N D S FOR STUDIES A N D

497

PUBLICATION

SEC. 908. The second sentence of section 708 of the Housing Act of 1961 (as redesignated by section 906 of this Act) is amended to read as follows: "The Administrator is authorized to use. during any fiscal year not to exceed $50,000 of the funds available for grants under this title to undertake such studies and publish such information." CONFORMING

AMEND3IENTS

SEC. 909. (a) The heading of section 702 of the Housing Act of 1961 is amended to read as follows: "GRANTS FOR PRESERVATION AND DEVEL-

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OPMENT OF OPEN-SPACE LAND".

(b) Section 702(a) of such Act is amended by striking out "acceptable to the Administrator as capable of carrying out the provisions of this title". (c) Section 702(e) of such Act is amended by striking out in the second sentence "served by the open-space land acquired" and inserting in lieu thereof "assisted". (d) Section 704 of such Act is amended by striking out in the first '^^ use isooc. sentence "for which" and inserting in lieu thereof "for the acquisition of which". TITLE X—RURAL HOUSIXG LOANS FOR PREVIOUSLY OCCUPIED B U I L D I N G S A N D MINIMUM SITE ACQUISITION

SEC. 1001. (a) Section 501(a) of the Housing Act of 1949 is,/i^*^\-„"2; ,

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amended— (1) by inserting after "their farms," in clause (1) the following: "and to purchase previously occupied buildings and land constituting a minimum adequate site, in order"; and (2) by inserting after "rural areas" in clause (2) the following: "for the construction, improvement, alteration, or repair of dwellings, related facilities, and farm buildings and to rural residents for such purposes and for the purchase of previously occupied buildings and the purchase of land constituting a minimum adequate site, in order". (b) Section 501(c) of such Act is amended by inserting "or a rural resident" in clause (1) after "or that he is the owner of other real estate in a rural area".

75 Stat. 186.

42 USC uyi.

INTEREST RATE OX DIRECT RURAL HOUSING LOANS

SEC. 1002. Section.502(a) of the Housing Act of 1949 is amended ^^ use 1472. by striking out "with interest at a rate not to exceed 4 per centum per annum on the unpaid balance of principal" and inserting in lieu thereof the following: "with interest, in the case of applicants described in clauses (1) and (2) of section 501(a), at a rate not to exceed 5 per centum per annum on the unpaid balance of principal, and, in the case of applicants described in clause (3) of section 501(a) and applicants ^^ ^*^*- °under sections 503 and 504, at a rate not to exceed 4 per centum per " us^c MJI annum on such unpaid balance. Loans made or insured under this 1473, 1474. title shall be conditioned on the borrower paying such fees and other charges as the Secretary may require".

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