Page:United States Statutes at Large Volume 60 Part 1.djvu/1090

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60 STAT.] 79TH CONG. , 2D SESS.-CH. 964-AUG. 14 , 1946 liquidation of (a) all loans to farmers under the Act entitled "An Act to provide for loans to farmers for crop production and harvesting during the year 1937, and for other purposes", approved January 29, 1937 (U. S. C ., 1940 edition, title 12, secs. 1020i-1020o); (b) all loans identified or referred to in sections 5 (b), 5 (c), and 5 (d) of Execu- tive Order Numbered 6084, dated March 27, 1933, and (c) all other emergency crop production, feed, seed, drought, and rehabilitation loans administered by the Farm Credit Administration on the effective date of this Act. The said Act approved January 29, 1937, is hereby repealed. (3) All functions, powers, and duties of the National Housing Agency with respect to property, funds, and other assets which were formerly under the administration or supervision of the Farm Secu- rity Administration and were transferred to or consolidated with the National Housing Agency by Executive Order Numbered 9070 of February 24, 1942, except housing projects and except such other properties and assets as are now in the process of liquidation. (b) All assets, funds, contracts, property, and records and all liabili- ties of the agencies abolished by this Act and all assets, funds, con- tracts, property, and records which the Secretary of Agriculture, the Governor of the Farm Credit Administration, and the National Hous- ing Administrator have been using or have acquired primarily in the administration of any function, power, or duty so abolished and all liabilities chargeable thereto shall be collected or liquidated, as the case may be, by the Secretary of Agriculture, in accordance with this Act and the Bankhead-Jones Farm Tenant Act, as amended. The Secretary shall promptly transmit to the Treasurer of the United States for appropriate credits all collections or other proceeds realized from the assets, funds, contracts and property which are authorized to be administered, collected or liquidated by this Act, except that (1) the Secretary may retain so much of the personal property, such as office furniture, equipment, machines, automobiles, stationery, and office supplies, as he finds will be necessary in carrying out his duties under this Act and the Bankhead-Jones Farm Tenant Act, as amended; (2) until the loans obtained by the Secretary of Agriculture or the War Food Administrator from the Reconstruction Finance Corporation for carrying on the Farm Security programs have been paid, the Secretary shall pay to the Reconstruction Finance Corpora- tion, as collected, in accordance with the terms of the applicable loan agreements, the proceeds of all assets transferred to him for adminis- tration and liquidation which are pledged as security for such loans; and (3) the proceeds from collections on farmers' crop production and harvesting loans (U. S. C., 1940 edition, title 12, sees. 1020i-1020n, 10200) made available by the paragraph entitled "Farmers' crop pro- duction and harvesting loans" under the item "Farm Credit Admin- istration" in the Department of Agriculture Appropriation Act, 1947, shall be available to the Secretary of Agriculture for the fiscal year 1947 for making loans under title II of the Bankhead-Jones Farm Tenant Act, as amended. (c) The funds appropriated, authorized to be borrowed, and made available under the items "Farmers' crop production and harvesting loans" (under the heading "Farm Credit Administration"), "Loans, Grants, and Rural Rehabilitation" and "Farm Tenancy" in the Department of Agriculture Appropriation Act, 1947, shall be avail- able for the making and servicing of loans under this Act, for servic- ing and collecting loans made under prior authority, liquidation of rural rehabilitation projects, and for administrative expenses in con- nection therewith, and to the extent that such funds are validly obligated and committed on June 30, 1947, shall be available for use 1063 50 Stat. 5. 12U.S.O.note prec. § 636. Repeal. NHA. 50 U. S. C., Snpp. V, app., note foll. 601. Exceptions. Collection or li ui- dation of assets, lia- bilities, etc. 50 Stat. 522 7U.S.C.51000- 1029; Supp. V ,§ 1001 d~q . Post, pp. 1064, 1071, 1072. Retention of per- sonal property. Supra. Payments to RFO. Availability of funds collected on loans. 50 Stat. & Supra. Ant, p. 2&6. 50 Stat. 524. 7U..C.i1007- 1009. PoI, p. 1071. Funds available for loans et. Antg, pp; 29 29^ 29.