Page:United States Statutes at Large Volume 92 Part 1.djvu/570

 92 STAT. 516

PUBLIC LAW 95-352—AUG. 20, 1978

"(4) Loans made pursuant to this subsection shall be subject to such terms and conditions as the Secretary determines necessary to Regulations. assure the achievement of the purpose of this subsection. The Secretary shall promulgate such regulations as may be necessary to carry out the provisions of this subsection no later than three months after the enactment of this paragraph. "(5) Loans made pursuant to this subsection shall bear interest equivalent to the lowest interest rate paid on an issue of at least $1,000,000 of tax exempt bonds of such State or any agency thereof within the preceding calendar year. "(6) Any loan made pursuant to this subsection shall be secured only by a pledge of the revenues received by the State or the political subdivision thereof pursuant to section 35 of the Act of February 25, 30 USC 191. 1920, as amended, and shall not constitute an obligation upon the general property or taxing authority of such unit of government. "(7) Notwithstanding any other provision of law, loans made pursuant to this subsection may be used for the non-Federal share of the aggregate cost of any project or program otherwise funded by the Federal Government which requires a non-Federal share for such project or program and which provides planning or public facilities otherwise eligible for assistance under this subsection. "(8) Nothing in this subsection shall be construed to preclude any forebearance for the benefit of the borrower including loan restructuring, which may be determined by the Secretary as justified by the failure of anticipated mineral development or related revenues to materialize as expected when the loan was made pursuant to this subsection. "(9) Recipients of loans made pursuant to this subsection shall keep such records as the Secretary shall prescribe by regulation, including records which fully disclose the disposition of the proceeds of such assistance and such other records as the Secretary may require to facilitate an effective audit. The Secretary and the Comptroller General of the United States or their duly authorized representatives shall have access, for the purpose of audit, to such records. "(10) No person in the United States shall, on the grounds of race, color, religion, national origin, or sex be excluded from participation in, be denied the benefits of, or be subjected to discrimination under, any program or activity funded in whole or part with funds made available under this subsection. "(11) All amounts collected in connection with loans made pursuant to this subsection, including interest payments or repayments of principal on loans, fees, and other monevs, derived in connection with this subsection, shall be deposited in the Treasury as miscellaneous receipts.". SKC. 2. The Act entitled "An Act to provide for the establishment of t]io King Ran^e National Conservation Area in the State of California", approved October 21.1970 (Public Law 91-476), is amended— 16 USC 460y-4. (1) by adding at the end of subparagraph (B) of section 5(3) the following sentence: "Any such payment made to the Secretary shall be deposited in the Treasury as a miscellaneous receipt."; 16 USC 460y-9. (2) by inserting " (a) " in section 10 after "SEC. 10.": and (3) by adding at the end of section 10 the following new subsection:

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