Page:United States Statutes at Large Volume 84 Part 2.djvu/469

 84 STAT. ]

PUBLIC LAW 91-609-DEC. 31, 1970

1799

and nonadministrative expenses. Such revolving fund shall be comprised of (1) receipts from fees and charges; (2) recoveries under security, subrogation, and other rights; (3) repayments, interest income, and any other receipts obtained in connection with guarantees or loans made under this part; (4) proceeds of the obligations issued to the Secretary of the Treasury pursuant to subsection (b) of this section; and (5) such sums, which are hereby authorized to be appropriated, as may be required for the payment of the obligations issued to the Secretary of the Treasury for the purpose of making grants to State land development agencies under section 713, and for other purposes under this part. Money in the revolving fund not currently needed for the purpose of this part shall be kept in cash on hand or on deposit, or invested in obligations of the United States or guaranteed thereby, or in obligations, participations, or other instruments which are lawful investments for fiduciary, trust, or public funds. (b) The Secretary may issue obligations to the Secretary of the Treasury in an amount sufficient to enable the Secretary to carry out the functions authorized by this part. The obligations issued under this subsection shall have such maturities and bear such rate or rates of interest as shall be determined by the Secretary of the Treasury. The Secretary of the Treasury is authorized and directed to purchase any obligations so issued, and for that purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, and the purposes ^° ^^^' ^ss. for which securities may be issued under that Act are extended to include purchases of the obligations, hereunder. (c) Notwithstanding any other provision of law relating to the Expenses, payacquisition, handling, improvement, or disposal of real and other '^^^^' property by the United States, the Secretary shall have power, for the protection of the interests of the fund authorized under this section, to pay out of such fund all expenses or charges in connection with the acquisition, handling, improvement, or disposal of any property, real or personal, acquired by him as a result of recoveries under security, subrogation, or other rights. S U P P L E M E N T A R Y GRANTS FOR P U B L I C

FACILITIES

SEC. 718. (a^ The Secretary is authorized to make supplementary grants to any State or local public body or agency carrying out a new community assistance project, as defined in subsection (c), if the Secretary determines that such project is necessary or desirable for carrying out a new community development program. In no case shall any grant under this section exceed 20 per centum of the cost of the new community assistance project for which the grant is made; and in no case shall the total Federal contributions to the cost of such project be more than 80 per centum. (b) I n carrying out his authority under this section, the Secretary shall, with respect to any new community assistance project assisted by grants administered by a Federal department or agency other than the Department of Housing and Urban Development, consult with such department or agency concerning the project; and he shall, for the purpose of subsection (a), accept the certification of such department or agency as to the cost of such project. (c) For the purposes of this section, a "new community assistance ag'sfs^^n^e"?"""^ project" is a project assisted by grants under section 3 of the Urban ect." Mass Transportation Act of 1964; section 120(a) of title 23, United ^"'^' P- ^^2. States Code; section 19 of the Airport and Airway Development Act ^2 Stat. 335. of 1970; title VI of the Public Health Service Act; title II of the ^^"S' ''* ^f' Library Services and Construction Act; section 5 of the Land and 20 USC 355a. Water Conservation F u n d Act of 1965; title VII of thie Housing Act le use 46orn.

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