Page:United States Statutes at Large Volume 88 Part 1.djvu/784

 740

PUBLIC LAW 93-383-AUG. 22, 1974

[88 STAT.

^12 USC i749aa ^j^^ -^g^^Q shall not be withheld or made subject to conditions or prefi72o' note, noTs' crcnce by reason of the tax-exempt status of bonds or other obligations "°te. issued or to be issued to provide financing for use in connection with such assistance, except where otherwise expressly provided or authorized by law. ADDITIONAL ASSISTANT SECRETARIES OF HOUSING AND URBAN DEVELOPMENT 42 USC 3533.

SEC. 818. (a) Section 4 of the Department of Housing and Urban Development Act (Public Law 89-174, 79 Stat. 667) is amended— (1) by striking out "six" in the first sentence of subsection (a) and inserting in lieu thereof "eight"; (2) by striking out subsection (b); and (3) by redesignating subsections (c) and (d) as subsections (b) and (c), respectively, (b) Section 5316 of title 5, United States Code, is amended by strik ing out paragraph (122). (c) Paragraph (87) of section 5315 of title 5, United States Code, is amended by striking out " (6) " and inserting in lieu thereof " (8) ". MORTGAGE PROCEEDS F R A U D U L E N T L Y MISAPPROPRIATED BY MORTGAGOR

12 USC noil-i.

SEC. 819. The Secretary of Housing and Urban Development shall take action to secure the payment of any deficiency after foreclosure on a mortgage insured or assisted under Federal law where the Secretary has reason to believe that mortgage proceeds have been fraudulently misappropriated by the mortgagor. NEIGHBORHOOD DEVELOPMENT

42 USC 1469b.

42 USC 1450.

SEC. 820. Notwithstanding the provisions of section 133(b) of the Housing Act of 1949 or of any other law, local expenditures made in connection with the Broad and Front Street Garage in Trenton, New Jersey, shall, to the extent otherwise eMgible, be counted as a local grant-in-aid to the first two action years of the Trenton Neighborhood Development Program (N.J. A-1) in accordance with the provisions of title I of the Housing Act of 1949. CONDOMINIUM

42 USC 3532 note. Report to e o n gress.

PROGRAM

A N D COOPERATIVE

STUDY

SEC. 821. The Secretary of Housing and Urban Development is authorized and directed to conduct a full and complete investigation and study, and report to Congress not later than one year after the date of enactment of this Act, with respect to condominiums and cooperatives, and the problems, difficulties, and abuses or potential abuses applicable to condominium and cooporative housing. DIRECT F I N A N C I N G

STUDY

SEC. 822. The Secretary of Housing and Urban Development and the Secretary of the Treasury shall study the feasibility of financing the programs authorized under section 236 of the National Housing 12 USC 1715Z-1 Act and section 802 of this Act through various financing methods, note. including direct loans from the Federal Financing Bank, with a view to determining whether there is any such method that would result in net savings to the Federal Government (after taking into account Report to Con- ^j^^ direct aud indirect effects of such method). The Secretary of gress Housing and Urban Development and the Secretary of the Treasury

�