Page:United States Statutes at Large Volume 88 Part 2.djvu/517

 88 STAT. ]

PUBLIC LAW 93-563-DEC. 31, 1974

Loans may be insured, or made to be sold and insured, under this Fund in accordance with and subject to the provisions of 7 U.S.C. 1928-1929, as follows: real estate loans, $370,000,000, including not less than $350,000,000 for farm ownership loans; operating loans, $525,000,000; and emergency loans in amounts necessary to meet the needs resulting from natural disasters: Provided, That the Secretary may, on an insured basis or otherwise, sell any notes in the fund or sell certificates of beneficial ownership therein to the Secretary of the Treasury, to the private market, or to such other sources as the Secretary may determine. Any sale by the Secretary of notes or of beneficial ownership therein shall be treated as a sale of assets for the purpose of the Budget and Accounting Act, 1921, notwithstanding the fact that the Secretary, under an agreement with the purchaser or purchasers, holds the debt instruments evidencing the loans and holds or reinvests payments thereon for the purchaser or purchasers of the notes or of the certificates of beneficial ownership therein.

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RURAL WATER A N D WASTE DISPOSAL GRANTS

For grants pursuant to sections 306(a)(2) and 306(a)(6) of the Consolidated Farm and Rural Development Act, as amended (7 U.S.C. 1926), $150,000,000 to remain available until expended, pursuant to section 306(d) of the above Act, of which $120,000,000 shall be derived from the unexpended balance of amounts appropriated under this head in the fiscal year 1974, largely to meet the expanding need for areas not now covered. RURAL H O U S I N G FOR DOMESTIC F A R M LABOR

For financial assistance to public nonprofit organizations for housing for domestic farm labor, pursuant to section 516 of the Housing Act of 1949, as amended (42 U.S.C. 1486), $5,000,000, to remain available until expended. M U T U A L AND SELF-HELP HOUSING

For grants pursuant to section 523(b)(1)(A) of the Housing Act of 1949 (42 U.S.C. 1490c), $5,000,000, to remain available until expended. RURAL DEVELOPMENT INSURANCE

FUND

For an additional amount to reimburse the rural development insurance fund for losses sustained in prior years, but not previously reimbursed, in carrying out the provisions of the Consolidated F a r m and Rural Development Act, as amended (7 U.S.C. 1988(a)), $17,446,000. For loans to be insured, or made to be sold and insured, under this fund in accordance with and subject to the provisions of 7 U.S.C. 1928 and 86 Stat. 661-664, as follows: water and sewer facility loans, J use 1929a$470,000,000; industrial development loans, $350,000,000; and com- 1933. ' munity facility loans, $200,000,000: Provided, That the Secretary may, on an insured basis or otherwise, sell any notes in the fund or sell certificates of beneficial ownership therein to the Secretary of the Treasury, to the private market, or to such other sources as the Secretary may determine. Any sale by the Secretary of notes or of beneficial ownership therein shall be treated as a sale of assets for the purpose of the Budget and Accounting Act, 1921, notwithstanding the fact that the Secretary, under an agreement with the purchaser or purchasers, holds the debt instruments evidencing the loans and holds or invests payments thereon for the purchaser or purchasers of the notes or of the certificates of beneficial ownership therein.

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