Page:United States Statutes at Large Volume 89.djvu/713

 PUBLIC LAW 94-122—OCT. 21, 1975 tained in the Corporation's charter and Public Law 480), and that such funds shall be used by such Sales Manager to form an agency to carry out the above activities. Such Sales Manager shall report directly to the Board of Directors of the Corporation of which the Secretary of Agriculture is a member. Such Sales Manager shall obtain, assimilate, analyze all available information on developments related to private sales, as well as those funded by the Corporation and Public Law 480, including g r a d e and quality as sold and as delivered and shall submit quarterly reports to the appropriate committees of Congress concerning such developments: Provided further, That not less than 7 per centum of this authorization shall be placed in reserve to be apportioned pursuant to section 3679 of the Revised Statutes, as amended, for use only in such amounts and at such times as may become necessary to carry out program operations: Provided further, That all necessary expenses (including legal and special services performed on a contract or fee basis, but not including other personal services) in connection with the acquisition, operation, maintenance, improvement, or disposition of any real or personal property belonging to the Corporation or in which it has an interest, including expenses of collections of pledged collateral, shall be considered as nonadministrative expenses for the purposes hereof. For "Administrative Expenses" of the Commodity Credit Corporation for the period July 1, 1976, through September 30, 1976; not to exceed $9,850,000 shall be available including a contingency reserve of not less than 7 percent: Provided, That $250,000 and such other sums as are necessary of this authorization shall be available to support the position of Sales Manager who shall work to expand and strengthen sales of U. S. commodities in world markets (including those of the Corporation and those funded by Public Law 480) pursuant to existing authority (including that contained in the Corporation's charter and Public Law 480), and that such funds shall be used by such Sales Manager to form an agency to carry out the above activities. Such Sales Manager shall report directly to the B o a r d of Directors of the Corporation of which the Secretary of Agriculture is a member. Such Sales Manager shall obtain, assimilate, analyze all available information on developments related to private sales, as well as those funded by the Corporation and Public Law 480, including g r a d e and quantity as sold and as delivered and shall submit quarterly reports to the appropriate committees of Congress concerning such developments.

89 STAT. 653 7 USC 1691-1736e.

31 USC 665.

15 USC 713a-10.

TITLE II—RURAL DEVELOPMENT AND ASSISTANCE R U R A L DEVELOPMENT AND PROTECTION FARMERS H O M E ADMINISTRATION RURAL HOUSING INSURANCE FUND

For direct loans and related advances pursuant to section 5 l 7 (m) of the Housing Act of 1949, as amended, $20,000,000 shall be available 42 USC 1487. from funds in the r u r a l housing insurance fund, and for insured loans as authorized by title V of the Housing Act of 1949, as amended, 42 USC 147 L. $2,696,000,000 of which not less than $1,670,000,000 shall be available for subsidized interest loans to low-income borrowers as determined by the Secretary. For an additional amount to reimburse the r u r a l housing insurance fund for losses sustained i n p r i o r years, but not previously reimbursed, i n carrying out the provisions of title V of the Housing Act of 1949,

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