Page:United States Statutes at Large Volume 106 Part 5.djvu/105

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PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3743 (1) ESTABLISHMENT. —T here is established in the Treasury of the United States the Indian Housing Loan Guarantee Fund for the purpose of providing loan guarantees under this section. (2) CREDITS. —The Guarantee Fund shall be credited with— (A) any amounts, claims, notes, mortgages, contracts, and property acquired by the Secretary under this section, and any collections and proceeds therefrom; (B) any amounts appropriated under paragraph (7); (C) any guarantee fees collected under subsection (d); and (D) any intcirest or earnings on amounts invested under paragraph (4). (3) USE. —Amounts in the Guarantee Fund shall be available, to the extent provided in appropriation Acts, for— (A) fulfilling any obligations of the Secretary with respect to loans guaranteed under this section, including the costs (as such term is defined in section 502 of the Congressional Eludget Act of 1974) of such loans; (B) paying taxes, insurance, prior liens, expenses necessary to make fiscal adjustment in connection with the application and transmittal of collections, and other expenses and advances to protect the Secretary for loans which are guaranteed under this section or held by the Secretary; (C) acquiring such security property at foreclosure sales or otherwise; (D) paying administrative expenses in connection with this section; and (E) reasonable and necessary costs of rehabilitation and repair to properties that the Secretary holds or owns pursuant to this section. (4) iNVESTMENir.—Any amoiints in the Guarantee Fund determined by the Secretary to be in excess of amounts currently required to carry out this section may be invested in obligations of the United States. (5) LIMITATION ON COMMITMENTS TO GUARANTEE LOANS AND MORTGAGES. — (A) REQUIREMENT OF APPROPRIATIONS.—The authority of the Secretary to enter into commitments to guarantee loans under this section shall be effective for any fiscal year only to the extent or in such amounts as are or have been provided in appropriations Acts for such fiscal year. (B) LIMITATIONS ON COSTS OF GUARANTEES.—The authority of the Secretary to enter into commitments to guarantee loans under this section shall be effective for any fiscal year only to the extent that amounts in the Guarantee Fund are or have been made available in appropriation Acts to cover the costs (as such term is defined in section 502 of the Congressional Budget Act of 1974) of such loan guarantees for such fiscal year. (C) LIMITATION ON OUTSTANDING AGGREGATE PRINCIPAL AMOUNT. —Subject to the limitetions in subparagraphs (A) and (B), the Secretary may enter into commitments to guarantee loans under this section in each of fiscal years 1993 and 1994 with an aggregate outstending principal