25 U.S.C. § 4191 — Authority and requirements

Page 660 TITLE 25—INDIANS § 4184 made under or pursuant to title II of the Cran- ston-Gonzalez National Affordable Housing Act [42 U.S.C. 12721 et seq.], title IV of the McKin- ney-Vento Homeless Assistance Act [42 U.S.C. 11360 et seq.], or section 2 of the HUD Dem- onstration Act of 1993 shall continue to be gov- erned by the provisions of such Acts (as in effect before the date of the effectiveness of the amendments made by this subchapter). (Pub. L. 104–330, title V, § 507, Oct. 26, 1996, 110 Stat. 4045; Pub. L. 106–400, § 2, Oct. 30, 2000, 114 Stat. 1675; Pub. L. 109–281, § 2(d)(2), Sept. 22, 2006, 120 Stat. 1181.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsec. (a), was in the original ‘‘this Act’’, meaning Pub. L. 104–330, Oct. 26, 1996, 110 Stat. 4016, known as the Native American Housing Assistance and Self-Determination Act of 1996. For complete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables. The United States Housing Act of 1937, referred to in subsec. (a), is act Sept. 1, 1937, ch. 896, as revised gen- erally by Pub. L. 93–383, title II, Aug. 22, 1974, 88 Stat. 653, which is classified generally to chapter 8 (§ 1437 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 1437 of Title 42 and Tables. The Cranston-Gonzalez National Affordable Housing Act, referred to in text, is Pub. L. 101–625, Nov. 28, 1990, 104 Stat. 4079. Title II of the Act, known as the HOME Investment Partnerships Act, is classified principally to subchapter II (§ 12721 et seq.) of chapter 130 of Title 42, The Public Health and Welfare. Subtitle D of title IV of the Act was classified generally to part C (§ 12899 et seq.) of subchapter IV of chapter 130 of Title 42 prior to repeal by Pub. L. 109–281, § 2(e), Sept. 22, 2006, 120 Stat. 1181. For complete classification of this Act to the Code, see Short Title note set out under section 12701 of Title 42 and Tables. The McKinney-Vento Homeless Assistance Act, re- ferred to in text, is Pub. L. 100–77, July 22, 1987, 101 Stat. 482. Title IV of the Act is classified principally to subchapter IV (§ 11360 et seq.) of chapter 119 of Title 42, The Public Health and Welfare. For complete classi- fication of this Act to the Code, see Short Title note set out under section 11301 of Title 42 and Tables. Section 2 of the HUD Demonstration Act of 1993, re- ferred to in text, is section 2 of Pub. L. 103–120, Oct. 27, 1993, 107 Stat. 1144, which was set out as a note under section 11301 of Title 42, The Public Health and Welfare, prior to repeal by Pub. L. 103–120, § 2(g). This subchapter, referred to in subsec. (b), was in the original ‘‘this title’’, meaning title V of Pub. L. 104–330, which enacted this subchapter and section 12899h–1 of Title 42, The Public Health and Welfare, amended sec- tions 1437a, 1437c to 1437e, 1437g, 1437l, 1437n, 1437u to 1437x, 1437aaa–5, 1437aaa–6, 1439, 11371 to 11376, 11382, 11401, 11403g, 11408, 11903a, 12747, and 12838 of Title 42, re- pealed sections 1437aa to 1437ee of Title 42, enacted pro- visions set out as notes under sections 11371, 12747, and 12899h–1 of Title 42, amended provisions set out as a note under section 11301 of Title 42, and repealed provi- sions set out as a note under section 1701z–6 of Title 12, Banks and Banking. For complete classification of title V to the Code, see Tables. The date of the effectiveness of the amendments made by this subchapter, referred to in subsec. (b), means the effective date of the amendments made by title V of Pub. L. 104–330, which is Oct. 1, 1997, except as otherwise expressly provided. See section 107 of Pub. L. 104–330, set out as an Effective Date note under sec- tion 4101 of this title. AMENDMENTS 2006—Subsec. (b). Pub. L. 109–281 struck out ‘‘subtitle D of title IV of the Cranston-Gonzalez National Afford- able Housing Act,’’ after ‘‘pursuant to’’. 2000—Pub. L. 106–400 substituted ‘‘McKinney-Vento Homeless Assistance Act’’ for ‘‘Stewart B. McKinney Homeless Assistance Act’’ in subsecs. (a) and (b). Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Oct. 26, 1996, see section 508 of Pub. L. 104–330, set out as a note under section 4181 of this title. § 4184. Effect on HOME Investment Partnerships Act Nothing in this chapter or an amendment made by this chapter prohibits or prevents any participating jurisdiction (within the meaning of the HOME Investment Partnerships Act (42 U.S.C. 12721 et seq.)) from providing any amounts made available to the participating ju- risdiction under that Act (42 U.S.C. 12721 et seq.) to an Indian tribe or a tribally designated hous- ing entity for use in accordance with that Act (42 U.S.C. 12721 et seq.). (Pub. L. 104–330, title V, § 509, as added Pub. L. 110–411, title V, § 501(a), Oct. 14, 2008, 122 Stat. 4331.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original ‘‘this Act’’, meaning Pub. L. 104–330, Oct. 26, 1996, 110 Stat. 4016, known as the Native American Housing As- sistance and Self-Determination Act of 1996. For com- plete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables. The HOME Investment Partnerships Act, referred to in text, is title II of Pub. L. 101–625, Nov. 28, 1990, 104 Stat. 4094, which enacted subchapter II of chapter 130 of Title 42, The Public Health and Welfare, amended sec- tion 1437f of Title 42, and repealed section 1706e of Title 12, Banks and Banking, sections 1437o and 1452b of Title 42, and provisions set out as a note under section 1715l of Title 12. For complete classification of this Act to the Code, see Short Title note set out under section 12701 of Title 42 and Tables. SUBCHAPTER VI—FEDERAL GUARANTEES FOR FINANCING FOR TRIBAL HOUSING ACTIVITIES § 4191. Authority and requirements (a) Authority To such extent or in such amounts as provided in appropriations Acts, the Secretary may, sub- ject to the limitations of this subchapter (in- cluding limitations designed to protect and maintain the viability of rental housing units owned or operated by the recipient that were de- veloped under a contract between the Secretary and an Indian housing authority pursuant to the United States Housing Act of 1937 [42 U.S.C. 1437 et seq.]), and upon such terms and conditions as the Secretary may prescribe, guarantee and make commitments to guarantee, the notes or other obligations issued by Indian tribes or trib- ally designated housing entities with tribal ap- Page 661 TITLE 25—INDIANS § 4192 proval, for the purposes of financing affordable housing activities described in section 4132 of this title and housing related community devel- opment activity as consistent with the purposes of this chapter. (b) Terms of loans Notes or other obligations guaranteed pursu- ant to this subchapter shall be in such form and denominations, have such maturities, and be subject to such conditions as may be prescribed by regulations issued by the Secretary. The Sec- retary may not deny a guarantee under this sub- chapter on the basis of the proposed repayment period for the note or other obligation, unless the period is more than 20 years or the Sec- retary determines that the period causes the guarantee to constitute an unacceptable finan- cial risk. (c) Limitation on outstanding guarantees No guarantee or commitment to guarantee shall be made with respect to any note or other obligation if the total outstanding notes or obli- gations of the issuer guaranteed under this sub- chapter (excluding any amount defeased under the contract entered into under section 4192(a)(1) of this title) would thereby exceed an amount equal to 5 times the amount of the grant approval for the issuer pursuant to sub- chapter III. (d) Limitation on percentage A guarantee made under this subchapter shall guarantee repayment of 95 percent of the unpaid principal and interest due on the notes or other obligations guaranteed. (Pub. L. 104–330, title VI, § 601, Oct. 26, 1996, 110 Stat. 4046; Pub. L. 107–292, § 7, Nov. 13, 2002, 116 Stat. 2054; Pub. L. 108–393, § 2, Oct. 30, 2004, 118 Stat. 2246.) Editorial Notes REFERENCES IN TEXT The United States Housing Act of 1937, referred to in subsec. (a), is act Sept. 1, 1937, ch. 896, as revised gen- erally by Pub. L. 93–383, title II, Aug. 22, 1974, 88 Stat. 653, which is classified generally to chapter 8 (§ 1437 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under section 1437 of Title 42 and Tables. This chapter, referred to in subsec. (a), was in the original ‘‘this Act’’, meaning Pub. L. 104–330, Oct. 26, 1996, 110 Stat. 4016, known as the Native American Housing Assistance and Self-Determination Act of 1996. For complete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables. AMENDMENTS 2004—Subsec. (d). Pub. L. 108–393 added subsec. (d). 2002—Subsec. (a). Pub. L. 107–292, § 7(1), inserted ‘‘and housing related community development activity as consistent with the purposes of this chapter’’ after ‘‘section 4132 of this title’’. Subsecs. (b) to (d). Pub. L. 107–292, § 7(2), (3), redesig- nated subsecs. (c) and (d) as (b) and (c), respectively, and struck out heading and text of former subsec. (b). Text read as follows: ‘‘A guarantee under this sub- chapter may be used to assist an Indian tribe or hous- ing entity in obtaining financing only if the Indian tribe or housing entity has made efforts to obtain such financing without the use of such guarantee and cannot complete such financing consistent with the timely execution of the program plans without such guar- antee.’’ Statutory Notes and Related Subsidiaries EFFECTIVE DATE Pub. L. 104–330, title VI, § 606, Oct. 26, 1996, 110 Stat. 4048, provided that: ‘‘This title [enacting this sub- chapter] shall take effect on the date of the enactment of this Act [Oct. 26, 1996].’’ [Another section 606 of Pub. L. 104–330 is classified to section 4196 of this title.] § 4192. Security and repayment (a) Requirements on issuer To assure the repayment of notes or other ob- ligations and charges incurred under this sub- chapter and as a condition for receiving such guarantees, the Secretary shall require the In- dian tribe or housing entity issuing such notes or obligations to— (1) enter into a contract, in a form accept- able to the Secretary, for repayment of notes or other obligations guaranteed under this subchapter; (2) pledge any grant for which the issuer may become eligible under this chapter; (3) demonstrate that the extent of such issuance and guarantee under this subchapter is within the financial capacity of the tribe and is not likely to impair the ability to use grant amounts under subchapter I, taking into consideration the requirements under section 4133(b) of this title; and (4) furnish, at the discretion of the Sec- retary, such other security as may be deemed appropriate by the Secretary in making such guarantees, including increments in local tax receipts generated by the activities assisted under this chapter or disposition proceeds from the sale of land or rehabilitated prop- erty. (b) Repayment from grant amounts Notwithstanding any other provision of this chapter— (1) the Secretary may apply grants pledged pursuant to subsection (a)(2) to any repay- ments due the United States as a result of such guarantees; and (2) grants allocated under this chapter for an Indian tribe or housing entity (including pro- gram income derived therefrom) may be used to pay principal and interest due (including such servicing, underwriting, and other costs as may be specified in regulations issued by the Secretary) on notes or other obligations guaranteed pursuant to this subchapter. (c) Full faith and credit The full faith and credit of the United States is pledged to the payment of all guarantees made under this subchapter. Any such guarantee made by the Secretary shall be conclusive evi- dence of the eligibility of the obligations for such guarantee with respect to principal and in- terest, and the validity of any such guarantee so made shall be incontestable in the hands of a holder of the guaranteed obligations. (Pub. L. 104–330, title VI, § 602, Oct. 26, 1996, 110 Stat. 4046.)