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42 U.S.C. § 1481 — Issuance of notes and obligations for loan funds; amount; limitation; security; form and denomination; interest; purchase and sale by Treasury; public debt transaction
Federal law — U.S. Code and appendices · legal_authorities
The Secretary may issue notes and other obligations for purchase by the Secretary of the Treasury for the purpose of making direct loans under this subchapter. The notes and obligations issued by the Secretary shall be secured by the obligations of borrowers and the Secretary’s commitments to make contributions under this subchapter and shall be repaid from the payment of principal and interest on the obligations of the borrowers and from funds appropriated hereunder. The notes and other obligations issued by the Secretary shall be in such forms and denominations, shall have such maturities, and shall be subject to such terms and conditions as may be prescribed by the Secretary with the approval of the Secretary of the Treasury. Each such note or other obligation shall bear interest at the average rate, as determined by the Secretary of the Treasury, payable by the Treasury upon its marketable public obligations outstanding at the beginning of the fiscal year in which such note or other obligation is issued, which are neither due nor callable for redemption for 15 years from their date of issue. The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations of the Secretary issued hereunder and for such purpose is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under chapter 31 of title 31, and the purposes for which securities may be issued under such chapter are extended to include any purchases of such obligations. The Secretary of the Treasury may at any time sell any of the notes or obligations acquired by him under this section. All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or obligations shall be treated as public debt transactions of th
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Stable record: federal_law:legal_authorities:record_usc_389bc860048a6c1ea2741e04
Source file: Laws/federal/codes/united-states-code/title-42/section-1481-issuance-of-notes-and-obligations-for-loan-funds-amount-limitation-secur--0731b940f2.md
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Source location: Title 42, Chapter 8A, § 1481; chapter-8a-slum-clearance-urban-renewal-and-farm-housing.md
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The Secretary may issue notes and other obligations for purchase by the Secretary of the Treasury for the purpose of making direct loans under this subchapter. The notes and obligations issued by the Secretary shall be secured by the obligations of borrowers and the Secretary’s commitments to make contributions under this subchapter and shall be repaid from the payment of principal and interest on the obligations of the borrowers and from funds appropriated hereunder. The notes and other obligations issued by the Secretary shall be in such forms and denominations, shall have such maturities, and shall be subject to such terms and conditions as may be prescribed by the Secretary with the approval of the Secretary of the Treasury. Each such note or other obligation shall bear interest at the average rate, as determined by the Secretary of the Treasury, payable by the Treasury upon its marketable public obligations outstanding at the beginning of the fiscal year in which such note or other obligation is issued, which are neither due nor callable for redemption for 15 years from their date of issue. The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations of the Secretary issued hereunder and for such purpose is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under chapter 31 of title 31, and the purposes for which securities may be issued under such chapter are extended to include any purchases of such obligations. The Secretary of the Treasury may at any time sell any of the notes or obligations acquired by him under this section. All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or obligations shall be treated as public debt transactions of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general**
(1) The Secretary may, to the extent approved in appropriation Acts, insure and guarantee loans under this subchapter during fiscal years 1993 and 1994, in aggregate amounts not to exceed $2,446,855,600 and $2,549,623,535, respectively, as follows:
(A) For insured or guaranteed loans under [section 1472 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1472&num=0&edition=prelim) on behalf of low-income borrowers receiving assistance under [section 1490a(a)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1490a/a/1&num=0&edition=prelim), $1,676,484,000 for fiscal year 1993 and $1,746,896,328 for fiscal year 1994.
(B) For guaranteed loans under [section 1472(h) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1472/h&num=0&edition=prelim) on behalf of low- and moderate-income borrowers, such sums as may be appropriated for fiscal years 1993 and 1994.
(C) For loans under [section 1474 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1474&num=0&edition=prelim), $12,400,000 for fiscal year 1993 and $12,920,800 for fiscal year 1994.
(D) For insured loans under [section 1484 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1484&num=0&edition=prelim), $16,821,600 for fiscal year 1993 and $17,528,107 for fiscal year 1994.
(E) For insured loans under [section 1485 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1485&num=0&edition=prelim), $739,500,000 for fiscal year 1993 and $770,559,000 for fiscal year 1994.
(F) For loans under [section 1490c(b)(1)(B) of this title](https://uscode.house.gov/
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization; terms and conditions** The Secretary is authorized to insure and make commitments to insure loans made by lenders other than the United States to the owner of any farm or any association of farmers for the purpose of providing housing and related facilities for domestic farm labor, or to any Indian tribe for such purpose, or to any State (or political subdivision thereof), or any broad-based public or private nonprofit organization, or any limited partnership in which the general partner is a nonprofit entity, or any nonprofit organization of farmworkers incorporated within the State for the purpose of providing housing and related facilities for domestic farm labor any place within the State where a need exists. All such loans shall be made in accordance with terms and conditions substantially identical with those specified in [section 1472 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section1472&num=0&edition=prelim), except that—
(1) no such loan shall be insured in an amount in excess of the value of the farm involved less any prior liens in the case of a loan to an individual owner of a farm, or the total estimated value of the structures and facilities with respect to which the loan is made in the case of any other loan;
(2) no such loan shall be insured if it bears interest at a rate in excess of 1 per centum per annum;
(3) out of interest payments by the borrower the Secretary shall retain a charge in an amount not less than one-half of 1 per centum per annum of the unpaid principal balance of the loan;
(4) the insurance contracts and agreements with respect to any loan may contain provisions for servicing the loan by the Secretary or by the lender, and for the purchase by the Secretary of the loan
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Federal law — U.S. Code and appendices · legal_authorities
Page 4767
TITLE 42—THE PUBLIC HEALTH AND WELFARE
§ 1482
STUDY OF PROBLEMS CAUSED BY REMOTE CLAIMS
Pub. L. 95–557, title V, § 509, Oct. 31, 1978, 92 Stat. 2114,
directed Secretary of Agriculture to make a detailed
study of problems associated with obtaining title insur-
ance by persons in rural areas with respect to real
property encumbered by remote claims and make a
final report to Congress with respect to such study not
later than one year after Oct. 31, 1978.
§ 1481. Issuance of notes and obligations for loan
funds; amount; limitation; security; form and
denomination; interest; purchase and sale by
Treasury; public debt transaction
The Secretary may issue notes and other obli-
gations for purchase by the Secretary of the
Treasury for the purpose of making direct loans
under this subchapter. The notes and obligations
issued by the Secretary shall be secured by the
obligations of borrowers and the Secretary’s
commitments to make contributions under this
subchapter and shall be repaid from the pay-
ment of principal and interest on the obligations
of the borrowers and from funds appropriated
hereunder. The notes and other obligations
issued by the Secretary shall be in such forms
and denominations, shall have such maturities,
and shall be subject to such terms and condi-
tions as may be prescribed by the Secretary
with the approval of the Secretary of the Treas-
ury. Each such note or other obligation shall
bear interest at the average rate, as determined
by the Secretary of the Treasury, payable by the
Treasury upon its marketable public obligations
outstanding at the beginning of the fiscal year
in which such note or other obligation is issued,
which are neither due nor callable for redemp-
tion for 15 years from their date of issue. The
Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 1481
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