Page:United States Statutes at Large Volume 79.djvu/541

 79 STAT.]

PUBLIC LAW 89-117-AUGUST 10, 1965

501

(3) by striking out the fifth sentence and inserting in lieu thereof the following "Each such note or other obligation shall bear interest at the average rate, as determined hj the Secretary of the Treasury, payable by the Treasury upon its marketable public obligations outstanding at the beginning of the fiscal year in which such note or other obligation is issued, which are neither due nor callable for redemption for 15 years from their date of issue." FEDERAL N A T I O N A L MORTGAGE ASSOCIATION SECONDARY M A R K E T T I O N S FOR I N S U R E D RURAL H O U S I N G LOANS

OPERA-

SEC. 1004. (a) Section 302(b) of the National Housing Act is amended— (1) by inserting immediately after "which are insured under the National Housing Act" the following: "or title V of the Housing Act of 1949"; (2) by inserting after "any mortgage" in clause (2) of the proviso the following: ", except a mortgage insured under title V of the Housing Act of 1949,"; and (3) by inserting before the period in the last sentence the following: "or title V of the Housing Act of 1949". (b) Section 303(b) of such Act is amended by inserting "and other" after "private" in the first sentence. EXTENSION

OF RURAL

HOUSING

^v'scnii

42 USC 1471 et seq.

12 USC 1718.

AUTHORIZATIONS

SEC. 1005. (a) Section 512 of the Housing Act of 1949 is amended by striking out "September 30, 1965" and inserting in lieu thereof "October 1, 1969". (b) Section 513 of such Act is amended— (1) by striking out "September 30, 1965" in clause (b) and inserting in lieu thereof "October 1, 1969"; (2) by striking out "$10,000,000" in clause (c) and inserting in lieu thereof "$50,000,000", and by striking out "September 30, 1965" in the same clause and inserting in lieu thereof "October 1, 1969"; and (3) by striking out "September 30, 1965" in clause (d) and inserting m lieu thereof "October 1, 1969". (c) Section 515(b)(5) of such Act is amended by striking out "September 30, 1965" and inserting in lieu thereof "October 1, 1969". (d) Section 506(a) of such Act is amended by striking out "sections 501 to 504, inclusive, and sections 514—516", each place it occurs and inserting in lieu thereof "this title".

^s sta^. ige^ '^^ ^^*^ ^*^^^s Stat. 798.

42 us^c 14^
 * 76

S U M S EXCESS TO THE N E E D S OF THE RURAL H O U S I N G INSURANCE F U N D OR THE RURAL H O U S I N G DIRECT LOAN ACCOUNT

SEC. 1006. Title V of the Housing Act of 1949 is amended by adding J^^ "sc i47i et after section 518 (added by section 1003 of this Act) a new section as follows: " S U M S E X C E S S TO THE NEEDS O F THE RURAL H O U S I N G INSURANCE F U N D OR THE RURAL H O U S I N G DIRECT LOAN ACCOUNT

"SEC. 519. Any sums in the Rural Housing Insurance Fund or the Rural Housing Direct Loan Account which the Secretary determines are in excess of amounts needed to meet the obligations and carry out the purposes of such Fund or Account shall be returned to miscellaneous receipts of the Treasury."

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