Page:United States Statutes at Large Volume 82.djvu/647

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[82 STAT. 605]
[82 STAT. 605]
PUBLIC LAW 90-000—MMMM. DD, 1968

82 STAT. ]

PUBLIC LAW 90-448-AUG. 1, 1968

of loans, and not more than 12i^ per centum of the funds provided for in this title for grants,". (g)(1) Section 401(g) of such Act is amended to read as follows: " (g) Except as otherwise provided in the second paragraph of section 404(b), in the case of any loan which is made under this section to a nonprofit student housing cooperative corporation referred to in clause (5) of section 404(b), or which is obtained from other sources by such a corporation and is the subject of a contract for annual grants entered into under this section, the Secretary shall require that the note securing such loan be cosigned by the educational institution (referred to in clause (1) of such section) at which such corporation is located, and that, in the event of the dissolution of such corporation, title to the housing constructed with such loan will vest in such educational institution." (2) Section 404(a) of such Act is amended by inserting "or existing" immediately after "new". (3) Clause (3)(B) of section 404(b) of such Act is amended by striking out "of any loan secured under this title" and inserting in lieu thereof the following: "of any loan which is made under section 401, or is the subject of a contract for annual grants entered into under section 401,". (4) Clause (4) of section 404(b) of such Act is amended by striking out "to obtain loans" and inserting in lieu thereof "to obtain loans or grants". (5) The second paragraph of section 404(b) of such Act is amended by inserting after "clause (5) of this subsection," the following: "and in the case of any loan which is obtained from other sources by such a corporation and is the subject of a contract for annual grants entered into under section 401,". (6) Section 404(c) of such Act is amended by inserting before the period at the end thereof the following: "; except that in the case of the purchase of facilities such term means the cost as approved by the Secretary". (7) Section 404(h) of such Act is amended by inserting "or existing" immediately after "new". (h) The last sentence of paragraph "Seventh" of section 5136 of the Revised Statutes (12 U.S.C. 24) (appearing immediately before the sentence added by section 911 of this Act) is amended by inserting after "the Asian Development Bank" the following: ", or obligations issued by any State or political subdivision or any agency of a State or political subdivision for housing, university, or dormitory purposes,"

605

73 Stat.esa. ^^ ^^^ ^^"*^ ^g^^*°* ^^'^' 12 USC 1749c. 73 Stat. esa.

^i Stat. 304.

irOUSING FOR THE ELDERLY

SEC. 1706. Section 202(a) of the Housing Act of 1959 is amended— (1) by inserting in paragraph (1) after "corporations," the following: "limited profit sponsors,"; (2) by inserting in paragraph (2) after "(as defined in subsection (d)(2)), " the following: "to any limited profit sponsor approved by the Secretary,"; and (3) by inserting in paragraph (3) after "Secretary" the following: ", except that in the case of other than a corporation, consumer cooperative, or public body or agency the amount of the loan shall not exceed 90 per centum of the development cost".

^ l'^'^ f^^J^ '^' ^s Stat. 162.

FEDERAL-STATE TRAINING PROGRAMS

SEC. 1707. (a) Title VIII of the Housing Act of 1964 is amended— (1) by inserting after "urban centers," in section 801(b) the following: "and with business firms and associations, labor unions, and other interested associations and organizations"; and

^s Stat. 802. ^° ^^^ sorsii.