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Guaranteed loan security. 7 USC prec. 1961 note. Outstanding loan g u a r a n t e e s, limitation. 7 USC prec. 1961 note. 7 USC 1929.

7 USC prec. 1961 note.

7 USC prec. 1961 note.

Effective date. 7 USC prec. 1961 note.

7 USC prec. 1961 note. 7 USC 1932.

Regulations. 7 USC prec. 1961 note.

PUBLIC LAW 93-358-JULY 25, 1974

[88

STAT.

(c) The Secretary finds there is reasonable probability of accomplishing the objectives of the Act and repayment of the loan. SEC. 4. Loans guaranteed under this Act shall be secured by security adequate to protect the Government's interests, as determined by the Secretary. SEC. 6, Loan guarantees outstanding under this Act shall not exceed $2,000,000,000 at any one time. Subject to the provisions of section 2(c) of this Act, the fund created in section 309 of the Consolidated F a r m and Rural Development Act shall be used by the Secretary for the discharge of the obligations of the Secretary under contracts of guarantee made pursuant to this Act. SEC. 6. Contracts of guarantee under this Act shall not be included in the totals of the budget of the United States Government and shall be exempt from any general limitation imposed by statute on expenditures and net lending (budget outlays) of the United States. SEC. 7. Any contract of guarantee executed by the Secretary under this Act shall be an obligation supported by the full faith and credit of the United States and incontestable except for fraud or misrepresentation of which the holder had actual knowledge at the time it became a holder. SEC. 8. The provisions of this Act shall become effective upon enactment, and the authority to make new guarantees under this Act shall terminate one year from the date of enactment of this Act, except that the Secretary of Agriculture may extend the guarantee authority provided in this Act for a period not to exceed six months if he (1) determines that such guarantees are necessary to the welfare of livestock producers and that adequate credit cannot be obtained without such guarantee by the Secretary, and (2) notifies the Committee on Agriculture and Forestry of the Senate and the Committee on Agriculture of the House of Representatives at least thirty days prior to the date on which he elects to extend the guarantee authority provided in the Act. SEC. 9. (a) The provisions of section 310B(d)(6) of the Consolidated F a r m and Rural Development Act shall apply to loans guaranteed under this Act. (b) Contracts of guarantee executed pursuant to the provisions of this Act shall be fully assignable. SEC. 10. The Secretary is authorized to issue such regulations as he determines necessary to carry out this Act; The proposed regulations shall be issued as soon as possible, but in no event later than thirty days from the date of enactment of this Act. Approved July 25, 1974. Public Law 93-358

July 25, 1974 [H. R. 1 1 1 4 3 ]

eommittee for Purchase of Products and Services of the Blind and Other Severely Handicapped. Appropriation authorization. 41 USC 4 6.

AN ACT To provide the authorization for fiscal year 1975 and succeeding fiscal year s for the Committee for Purchase of P r o d u c t s and Services of the Bliuu and Other Severely Handicapped, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Act entitled •'An Act to create a Committee on Purchases of Blind-made Products, and for other purposes", approved June 25, 1938 (41 U.S.C. 46-48c) is amended as follows: (1) Section 1(a) is amended— (A) by striking out "Committee for Purchase of Products and Services of" in the first sentence thereof and inserting in lieu thereof "Committee for Purchase from";

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