Page:United States Statutes at Large Volume 90 Part 1.djvu/129

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PUBLIC LAW 94-000—MMMM. DD, 1976

PUBLIC LAW 9 4 - 2 1 0 — F E B. 5, 1976

9 0 STAT. 7 9

that such increase i n dividends (or such use of assets or revenues) will not materially affect the ability of the obligor to comply with the requirements of this section. (k) BREACH OF CONDITIONS.—The Attorney General shall commence a civil action in any appropriate district court of the United States to enjoin any activity which the Secretary finds is in violation of any requirement or condition specified in subsection (i) or (j) of this section, and to secure any other a p p r o p r i a t e relief, including termination, suspension, and punitive damages. (1) INVESTIGATION CHARGE.—The Secretary shall charge and collect from each applicant such amounts as he deems reasonable for the investigation of any application submitted under this section, for appraisal of the value of the equipment or facilities involved, and for making the necessary determinations and findings. Such charges shall not aggregate more than one-half of 1 percent of the principal amount of the obligation with respect to which the applicant seeks a guarantee or commitment to guarantee. (m) P R E M I U M CHARGE.—The Secretary shall assess and collect from the obligor a n annual premium charge on each obligation guaranteed under this section. The amount of such premium may not exceed an annual rate of 1 percent on the unpaid principal balance of such obligation a t the time payment is due. Payment is due initially when the obligation is guaranteed by the Secretary, and, thereafter, on the anniversary date of such guarantee. (n) ADMINISTRATIVE COSTS.—All moneys received by the Secretary

under this section shall be deposited in the obligation guarantee fund, and to the extent provided in appropriation acts, may be used by the Secretary to p a y administrative costs and expenses incurred by h i m pursuant to this section. ISSUANCE OF N O T E S OR OBLIGATIONS

SEC. 512. (a) AUTHORIZATION.—The Secretary may issue, in such 45 USC 832. amounts as are provided in appropriation acts, notes or other obligations to the Secretary of the Treasury, in such forms and denominations, bearing such maturities, and subject to such terms and conditions as the Secretary may prescribe. Such obligations may be issued whenever the moneys in the obligation guarantee fund are not sufficient to pay any amount which the Secretary is required to pay under section 513 of this title. Such obligations shall bear interest at a rate to be Interest rate, determined by the Secretary of the Treasury on the basis of the current average market yield on outstanding marketable obligations of the United States on comparable maturities during the month preceding the issuance of such obligations. The Secretary of the Treasury shall purchase any such obligations, and for such purpose he may use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as now or hereafter in force. 31 USC 774. The purposes for which securities may be issued under such Act are extended to include any purchase of notes or other obligations issued under this subsection. The Secretary of the Treasury may sell any such obligations at such times and price and upon such terms and conditions as he shall determine in his discretion. A l l purchases, redemptions, and sales of such obligations by such Secretary shall be treated as public debt transactions of the United States. Moneys obtained under this subsection shall be deposited in the obligation guarantee fund, and redemptions of any such obligations shall be made by the Secretary from such fund.

89-194 O—78—pt. 1