§ 1481. Issuance of notes and obligations for loan funds; amount; limitation; security; form and denomination; interest; purchase and sale by Treasury; public debt transaction
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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.
(July 15, 1949, ch. 338, title V, § 511, 63 Stat. 438; July 14, 1952, ch. 723, § 11(a), 66 Stat. 604; June 29, 1954, ch. 410, § 5(a), 68 Stat. 320; Aug. 2, 1954, ch. 649, title VIII, § 812(a), 68 Stat. 647; Aug. 11, 1955, ch. 783, title V, § 501(1), 69 Stat. 654; Aug. 7, 1956, ch. 1029, title VI, § 606(a), 70 Stat. 1114; Pub. L. 87–70, title VIII, §§ 801(c), 802, June 30, 1961, 75 Stat. 186; Pub. L. 87–723, § 4(c)(1), Sept. 28, 1962, 76 Stat. 672; Pub. L. 88–560, title V, § 501(a), Sept. 2, 1964, 78 Stat. 796;
Pub. L. 89–117, title X, § 1003(b), Aug. 10, 1965, 79 Stat. 500; Pub. L. 98–181, title I [title V, § 508], Nov. 30, 1983, 97 Stat. 1243; Pub. L. 98–479, title II, § 203(d)(4), Oct. 17, 1984, 98 Stat. 2229.)
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- Public Law 89–117
- Public Law 88–560
- Public Law 98–181Making supplemental appropriations for the fiscal year ending September 30, 1984, and for other purposes
- Public Law 345
- Public Law 1020
- Public Law 438
- Public Law 87–722
- Public Law 527
- Public Law 98–479To make technical and conforming amendments in certain laws relating to housing and community development
- Public Law 96–153To amend and extend certain Federal laws relating to housing, community and neighborhood development and preservation, and related programs, and for other purposes
- Public Law 95–557Oct. 31, 1978[[S. 3084](/us/bill/95/s/3084)]To amend and extend certain Federal laws relating to housing, community, and neighborhood development and preservation, and related programs, and for other purposes. *Be it enacted by the Senate and House of Representatives of the United States of America
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- July 15, 1949, ch. 338
- 63 Stat. 438
- July 14, 1952, ch. 723, § 11(a)
- 66 Stat. 604
- June 29, 1954, ch. 410, § 5(a)
- 68 Stat. 320
- Aug. 2, 1954, ch. 649
- 68 Stat. 647
- Aug. 11, 1955, ch. 783
- 69 Stat. 654
- Aug. 7, 1956, ch. 1029
- 70 Stat. 1114
- Pub. L. 87–70, title VIII
- 75 Stat. 186
- Pub. L. 87–723, § 4(c)(1)
- 76 Stat. 672
- Pub. L. 88–560, title V, § 501(a)
- 78 Stat. 796
- Pub. L. 89–117, title X, § 1003(b)
- 79 Stat. 500
- Pub. L. 98–181, title I
- 97 Stat. 1243
- Pub. L. 98–479, title II, § 203(d)(4)
- 98 Stat. 2229
- Pub. L. 98–479
- Pub. L. 98–181
- Pub. L. 89–117
- Pub. L. 88–560
- Pub. L. 87–723
- Pub. L. 87–70
- Act Aug. 7, 1956, ch. 1029, title VI, § 606(d)
- 70 Stat. 1115
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§ 1481
Issuance of notes and obligations for loan funds; amount; limitation; security; form and denomination; interest; purchase and sale by Treasury; public debt transaction
Stat.×12
U.S.C.×6
Stat. Comp.×1
ActJuly 15, 1949, ch. 338
Stat.63 Stat. 438
ActJuly 14, 1952, ch. 723, § 11(a)
Stat.66 Stat. 604
ActJune 29, 1954, ch. 410, § 5(a)
Cites 33 · showing 6Cited by 19 across 3 sources