Page:United States Statutes at Large Volume 88 Part 2.djvu/952

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Notes or other obligations.

31 USC 774.

Transfer of funds.

42 USC 291J-6. Appropriation.

PUBLIC LAW 93-641-JAN. 4, 1975

[88 STAT.

respecting such loans and loan guarantees, including any money derived from the sale of assets, "(2) If at any time the sums in the funds are insufficient to enable the Secretary— " (A) to make payments of interest under section 1620(b)(2), " (B) to otherwise comply with guarantees under this part of loans to nonprofit private entities, "(C) in the case of a loan which was made, sold, and guaranteed under this part, to make to the purchaser of such loan payments of principal and interest on such loan after default by the entity to which the loan was made, or " (D) to repurchase loans under subsection (c)(3)(B), and " (E) to make payments of interest on loans which are sold and guaranteed, he is authorized to issue to the Secretary of the Treasury notes or other obligations in such for-ms and denominations, bearing such maturities, and subject to such terms and conditions, as may be prescribed by the Secretary with the approval of the Secretary of the Treasury. Such notes or other obligations shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturities during the month preceding the issuance of the notes or other obligations. The Secretary of the Treasury shall purchase any notes and other obligations issued under this paragraph and for that purpose he may use 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 paragraph. All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as a public debt transactions of the United States. Sums borrowed under this paragraph shall be deposited in the fund and redemption of such notes and obligations shall be made by the Secretary from the fund. " (e)(1) The assets, commitments, obligations, and outstanding balances of the loan guarantee and loan fund established in the Treasury by section 626 shall be transferred to the fund established by subsection (d) of this section. "(^2) To provldc additional capitalization for the fund established under subsection (d) there are authorized to be appropriated to the fund, such sums as may be necessary for the fiscal years ending June 80, 1975, June 30, 1976, and June 30, 1977. "PART D — P R O J E C T GRANTS "PROJECT GRANTS

42 USC 300r.

"SEC. 1625. (a) The Secretary may make grants for construction or modernization projects designed to (1) eliminate or prevent imminent safety hazards as defined by Federal, State, or local fire, building, or life safety codes or regulations, or (2) avoid noncompliance with State or voluntary licensure or accreditation standards. A grant inider this subsection may only be made to a State or political subdivision of a State, including any city, town, county, borough, hospital district authority, or public or quasi-public corporation, for a project described in the preceding sentence for any medical facility owned or operated by it.

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