Page:United States Statutes at Large Volume 87.djvu/273

 87

STAT.]

PUBLIC LAW 93-86-AUG. 10, 1973

is less than two thousand but greater than two hundred, as reasonably determined by the Secretary,' "SEC. 817. Section 310B(d) of subtitle A of the Consolidated F a n n and Rural Development Act is amended by adding at the end thereof the following: " "(4) Xo grant or loan authorized to be made under this Act shall require or be subject to the prior approval of any officer, employee, or agency of any State, ' " (5) No loan commitment issued under this section, section 304, or section 312 shall be conditioned upon the applicant investing in excess of 10 per centum in the business or industrial enterprise for which purpose the loan is to be made unless the Secretary determines there are special circumstances which necessitate an equity investment by the applicant greater than 10 per centum. ' " (6) No provision of law shall prohibit issuance by the Secretary of certificates evidencing beneficial ownership in a block of notes insured or guaranteed under this Act or Title V of the Housing Act of 1949; any sale by the Secretary of such certificates shall be treated as a sale of assets for the purposes of the Budget and Accounting Act of 1921. Any security representing beneficial ownership in a block of notes guaranteed or insured under this Act or Title V of the Housing Act of 1949 issued by a private entity shall be exempt from laws administered by the Securities and Exchange Commission, except sections 17, 22, and 24 of the Securities Act of 1933, as amended; however, the Secretary shall require (i) that the issuer place such notes in the custody of an institution chartered by a Federal or State agency to act as trustee and (ii) that the issuer provide such periodic reports of sales as the Secretary deems necessary.'

241

86 Stat. 0 6 3. 7 USC 1932.

75 Stat. 308; 86 Stat. 657, 665. 7 USC 1924, 1942.

63 Stat. 432; 83 Stat. 399. 42 USC 1471.. 42 Stat. 20. 31 USC 2 note.

48 Stat. 84. 15 USC 77q, 77v. 77x.

"AGRICTTLTT'EAL C E N S U S 818. Notwithstanding any other provision of law. the Secretary of Commerce shall conduct a census of agriculture in 1974 as required by section 142 of title 13, Ignited States Code, and shall submit 71 Stat. 483. Fu s, estito the Congress, within thirty days after the date of enactment of the mate,n dsubmittal Agriculture and Consumer Protection Act of 1973, an estimate of the C o n g r e s s. funds needed to conduct such census." (28) By adding at the end thereof the following iiew title X: ''SEC.

'TITLE X—RURAL ENVIRONMENTAL CONSERVATION P R O C T R A M 1001. Notwithstanding any other provision of law the Secretary shall carry out the purposes specified in clauses (1), (2), (3), (4), and (6) of section 7(a) of the Soil Conservation and Domestic Allotment Act, as amended, section 16(b) of such Act, and in the 8649 Stat. 163; Stat. 676. Water Bank Act (16 U.S.C. 1301 et seq.) by entering into contracts of 16 USC 590g, three, five, ten, or twenty-five years with, and at the option of, eligible 590p. owners and operators of land as determined by the Secretary and hav- 84 Stat. 1468. ing such control as the Secretary determines to be needed on the farms, ranches, wetlands, forests, or other lands covered thereby. I n addition, the Secretary is hereby authorized to purchase perpetual easements to promote said purposes of this Title, including the sound use and management of flood plains, shore lands, and aquatic areas of the Nation. Such contracts shall be designed to assist farm, ranch, wetland, and nonindustrial private forest owners and operators, or other owners or operators, to make, in orderly progression over a period of ''SEC.

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