Page:United States Statutes at Large Volume 65.djvu/322

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288

PUBLIC LAW 137—AUG. 31, 1951

[65 STAT.

after the effective date of this Act unless the Administrator shall have determined that such loan is in the interest of the Government in the furtherance of any existing loan or for the refinancing of any existing loan. Home Loan Bank Board: Not to exceed a total of $750,000 shall be available for administrative expenses of the Home Loan Bank Board, including the purchase of one passenger motor vehicle for replacement only, and shall be derived frofti funds available to the Home Loan Bank Board, including those in the special deposit account established under the provisions under the head "Federal Home Loan Bank 57 Stat. 185. Administration" in the Independent Offices Appropriation Act, 1944, and receipts of the Federal Home Loan Bank Administration, the Federal Home Loan Bank Board, or the Home Loan Bank Board for the current fiscal year and prior fiscal years, and the Board may utilize and may make payment for services and facilities of the Federal home-loan banks, the Federal Keserve banks, the Federal Savings and Loan Insurance Corporation, and other agencies of the Government: Provided, That all necessary expenses in connection with the conservatorship of institutions insured by the Federal Savings and Loan Insurance Corporation and all necessary expenses (including services performed on a contract or fee basis, but not including other personal services) in connection with the handling, including the purchase, sale, and exchange, of securities on behalf of Federal home-loan banks, and the sale, issuance, and retirement of, or payment of interest on, debentuies or bonds, under the Federal Home Loan Bank Act, as 12u'^s ^c'i 1 2 amended, shall be considered as nonadministrative expenses for the 41 purposes hereof: Provided further, That notwithstanding any other provisions of this Act, except for the limitation in amount hereinbefore specified, the administrative expenses and other obligations of the Board shall be incurred, allowed, and paid in accordance with the provisions of the Federal Home Loan Bank Act of July 22, 1932, as ex?en"es°"*'^"^ amended (12 U.S.C. 1421-1449): Provided further, That the nonadministrative expenses for the examination of Federal and State chartered institutions shall not exceed $1,664,000. Federal Savings and Loan Insurance Corporation: Not to exceed $435,000 shall be available for administrative expenses, which shall be on an accrual basis and shall be exclusive of interest paid, depreciation, properly capitalized expenditures, expenses in connection with liquidation of insured institutions, liquidation or handling of assets of or derived from insured institutions, payment of insurance, and action for or toward the avoidance, termination, or minimizing of losses in the case of specific insured institutions, legal fees and expenses, and payments for administrative expenses of the Home Loan Bank Board determined by said Board to be properly allocable to said Corporation, and said Corporation may utilize and may make payment for services and facilities of the Federal home-loan banks, the Federal Reserve banks, the Home Loan Bank Board, and other agencies of the Government: Provided, That notwithstanding any other provisions of this Act, except for the limitation in amount hereinbefore specified, the administrative expenses and other obligations of said Corporation shall be incurred, allowed and paid in accordance with title IV of the 48 Stat. 1255.

^ ^ t of J u u e 27, 1934, as amended (12 U.S.C. 1724-1730). H o m e O w n e r s ' L o a n Corporation: Not to exceed $75,000 of funds

of Home Owners' Loan Corporation shall be available to the Home Loan Bank Board for expenditure as nonadministrative expenses to carry out final liquidation of the Home Owners' Loan Corporation. Federal Housing Administration: In addition to the amounts available by or pursuant to law (which shall be transferred to this authorization) for the administrative expenses of the Federal Housing