482
42 USC M^" note.
PUBLIC LAW 89-117-AUGUST 10, 1965
with any funds of the Housing Authority available for the purpose, is sufficient to pay and discharge all obligations incurred by the Housing Authority in connection with such low-rent housing project and owing at the time of transfer, will be paid by the Urban Renewal Department of the City of Macon to the Public Housing Administration to be applied in satisfaction of the Housing Authority's obligations which it cannot meet with its own funds available for the purpose, and (B) the total amount so paid by the Urban Renewal Department of the City of Macon will be included in the gross project cost of its Coliseum Urban Renewal Project, Georgia R-95. (2) The Housing and Home Finance Administrator and the Public Housing Commissioner are authorized to modify any contracts heretofore entered into and to take any other appropriate action necessary to carry out the provisions of paragraph (1). (^) (1) Notwithstanding any provision of the Housing Act of 1949 or any other provision of law, the urban renewal project in Savannah, Georgia, known as Project " J " in the General Neighborhood Renewal Plan for the Broad Street-Canal Urban Renewal Area adopted by resolution of the Mayor and Aldermen of the City of Savannah on November 18, 1958, may include the donation by Housing Authority of Savannah, by a suitable instrument of conveyance, of the right, title, and interest of the Authority in and to all or any portion of the land included within the boundaries of such Project " J " in the City of Savannah, Chatham County, Georgia, the area of such Project " J " being generally bounded on the North by properties of the Central of Georgia Railway Company, on the East by West Broad Street, on the South by the right-of-way for Interstate Highway No. 1-16, and on the West by the Savannah and Ogeechee Canal and West Boundary Street. (2) The conveyance authorized to be included in the urban renewal project under paragraph (1) shall be made only if the donee represents, and furnishes such assurances as may be required by Housing Authority of Savannah, that such donee will develop, preserve, and operate such property on a nonprofit basis as a historical site or monument. LEASE GUARANTEES FOR CERTAIN S M A L L B U S I N E S S
- 2stat_.689.
note. 75 Stat. 756.
CONCERNS
SEC. 316. (a) The Small Business Investment Act of 1958 is amended by adding after title III a new title as follows: "TITLE IV—LEASE GUARANTEES "AUTHORITY or
15 USC 63^^' 78 Stat. 526. 42 USC 2901-
[79 STAT.
THE ADMINISTRATION
"SEC. 401. (a) The Administration may, whenever it determines such action to be necessary or desirable, and upon such terms and conditions as it may prescribe, guarantee the payment of rentals under leases of commercial and industrial property entered into by small business concerns that are (1) eligible for loans under section 7(b)(3) ^^ ^^® Small Business Act, or (2) eligible for loans under title IV of the Ecouomic Opportunity Act of 1964, to enable such concerns to obtain such leases. Any such guarantee may be made or effected either directly or m cooperation with any qualified surety company or other qualified company through a participation agreement with such company. The foregoing powers shall be subject, however, to the following restrictions and limitations: "(1) No guarantee shall be issued by the Administration (A) if a guarantee meeting the requirements of the applicant is other-
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