Page:United States Statutes at Large Volume 85.djvu/464

 434

40 Stat. 288, 506. 31 USC 774.

Limitations,

Ante, p. 4 3 1. Administrative assistance.

PUBLIC LAW 92-157-NOV. 18, 1971

purchase any notes and other obligations issued hereunder and for that purpose he may tise as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, and the purposes for which the securities may be issued under that Act are extended to include any purchase of such notes and obligations. The Secretary of the Treasury may at any time sell any of the notes or other obligations acquired by him under this subsection. All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as public debt transactions of the United States. Sums borrowed under this subsection shall be deposited in the fund and redemption of such notes and obligations shall be made by the Secretary from the fund. " (f)(1) The cumulative total of the principal of the loans outstanding at any time with respect to which guarantees have been issued under this section may not exceed such limitations as may be specified in appropriation Acts. "(2) I n any fiscal year no loan guarantee may be made under subsection (a) and no agreement to make interest subsidy payments may be entered into under subsection (b) if the making of such guarantee or the entering into of such agreement would cause the cumulative total of— " (A) the principal of the loans guaranteed under subsection (a) in such fiscal year, and " (B) the principal of the loans for which no guarantee has been made under subsection (a) and with respect to which an agreement to make interest subsidy payments is entered into under subsection (b) in such fiscal year, to exceed the amount of grant funds obligated under this part in such fiscal year; except that this paragraph shall not apply if the amount of grant funds obligated under this part in such fiscal year equals the sums appi-opriated for such fiscal year under section 720. " (g) The Secretary, with the consent of the Secretary of Housing and Urban Development, may obtain from the Department of Housing and Urban Development such assistance with respect to the administration of this section as will promote efficiency and economy thereof." (e)

77 Stat. 165.

SPECIAL CONSIDERATION FOR CERTAIN PROJECTS.—Section U.S.C. 293a) is amended by adding at the end thereof

721

(42 the following: "(e) In the case of applications to aid in the construction of new schools of medicine, osteopathy, or dentistry, the Secretary shall give special consideration to those applications which contain or are reasonably supported by assurances that, because of the use that will be made of existing facilities (including Federal medical or dental facilities), the school will be able to accelerate the date on which it will begin its teaching program." (f)

79 Stat. 1058.

[85 STAT.

ELIGIBLE APPLICANTS.—

(1) COMBINATIONS.—Section 721(b)(1) (42 U.S.C. 293a(b) (1)) is amended by inserting a comma before "and (B) " and by inserting before the period at the end the following: ", or (C) any combination of schools which are described in clause (A) and which meet the requirements of clause (B) ". (2)

AFFILIATED HOSPITALS AND OUTPATIENT FACILITIES.—

(A) Paragraphs (2) and (3) of section 721(b) (42 U.S.C. 293a(b)) are amended to read as follows: "(2) Notwithstanding paragraph (1), in the case of an affiliated hospital or affiliated outpatient facility, an application which is approved by the school of medicine, osteopathy, or dentistry with which the hospital or outpatient facility is affiliated and which other-

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