PUBLIC LAW 93-135-OCT. 24, 1973
(ArnwLIZATlON OF RURAL TELEPHONK BANK
For the purchase of Glass A stock of the Rural Telephone Bajik. $80,000,000, to remain available until expended (7 U.S.G. 901-950(b) as amended by Public Law 93-32).
^"'S' p- 65.
RURAL TELEPHONE BANK
The Rur-al Telephone Bank is hereby authorized to make such expenditures, within the limits of funds and borrowing authority available to such corporation in accord with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act. as amended, as may be necessary in carrying out its authorized programs for the current fiscal year.
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SALARIES AND EXPENSES
For administrative expenses, including not to exceed $500 for financial and credit reports, funds lor employment pursuant to the second sentence of section 706(a) of the Organic Act of 1944 (7 U.S.C. 2226). and not to exceed $150,000 for employment under 5 U.S.C. 3109, $16,720,000.
ss Stat. 742. ^° Stat. 4i6.
FARMERS HOME ADMINISTRATION RURAL HOUSING INSURANCE FUND
For direct loans and related advances pursuant to section 517(m) of the Housing Act of 1949, as amended, $10,000,000 shall be available 83 sta^ 399^ from funds in the rural housing insurance fund, and for insured loans as authorized by title V of the Housing Act of 1949, as amended, 42 USC 1471. $2,144,000,000, of which not less than $1,200,000,000 shall be available for subsidized interest loans to low-income borrowers as determined by the Secretary: Provided, That the Secretary may, on an insured basis or otherwise, sell any notes in the fund or sell certificates of beneficial ownership therein to the Secretary of the Treasury, to the private market, or to such other sources as the Secretary may determine. Any sale by the Secretary of notes or of beneficial ownership therein shall be treated as a sale of assets for the purpose of the Budget and Accounting Act, 1921, notwithstanding the fact that the Secretary, under an 42 Stat. 20. agreement with the purchaser or purchasers, holds the debt instruments ^ ^ "^^ ^' evidencing the loans and holds or reinvests payments thereon for the purchaser or purchasers of the notes or of the certificates of beneficial ownership therein: Provided further, That such loans may not be made after September 30, 1973, unless the authorizing legislation is extended. Hereafter, farmer applicants for direct or insured rural housing loans shall be required to provide only such collateral security as is required of owners of nonfarm tracts. For an additional amount to reimburse the rural housing insurance fund for losses sustained in prior years, but not previously reimbursed, in carrying out the provisions of title V of the Housing Act of 1949, as amended (42 U.S.C. 1483, 1487e, and 1490a (c)), including $53,342,000 63 Stat. 438; as authorized by section 621(c) of the Act, $89,170,000. H HH' HI' AGRICULTURAL CREDIT INSURANCE FUND
For an additional amount to reimburse the agricultural credit insurance fund for losses sustained in prior years, but not previously reimbursed, in carrying out the provisions of the Consolidated Farm and Rural Development Act, as amended (7 U.S.C. 1988(a)), 75 Stat. 316; $74,554,000. 80 Stat. le?.