Page:United States Statutes at Large Volume 89.djvu/859

 PUBLIC LAW 94-143—DEC. 9, 1975 (c) There are authorized to be appropriated such sums as may be necessary to pay the expenses of administration of this Act. INSPECTION"

OF

89 STAT. 799 Appropriation authorization.

DOCUMENTS

SEC. 9. At any time a request for a loan is pending or a loan is outstanding under this Act, the Secretary is authorized to inspect and copy all accounts, books, records, memorandums, correspondence, and other documents of the city or any financing agent relating to its financial affairs.

31 USC 1508.

AUDITS

SEC. 10. (a) No loan may be made under this Act for the benefit of any State or city unless the General Accounting Office is authorized to make such audits as may be deemed appropriate by either the Secretary or the General Accounting Office of all accounts, books, records, and transactions of the State, the political subdivision, if any, involved, and any agency or instrumentality of such State or political subdivision. The General Accounting Office shall report the results of any such audit to the Secretary and to the Congress. TERMINATION

SEC. 11. The authority of the Secretary to make any loan under this Act terminates on June 30, 1978. Such termination does not affect the carrying out of any transaction entered into pursuant to this Act prior to that date, or the taking of any action necessary to preserve or protect the interests of the United States arising out of any loan under this Act. Approved December 9, 1975.

LEGISLATIVE HISTORY: HOUSE REPORTS: No. 94-632 Pt. 1 (Comm. on Banking, eurrency and Housing), Pt. 2 (Coram, on Ways and Means). SENATE REPORT No. 94-443 accompanying S. 2615 (Comm. on Banking, Housing and Urban Affairs). CONGRESSIONAL RECORD, Vol. 121 (1975): Dec. 2, considered and passed House. Dec. 3-5, considered and passed Senate.

31 USC 1509.

Report to Secretary of the Treasury and Congress. 31 USC 1510.

�