Page:United States Statutes at Large Volume 85.djvu/313

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[85 STAT. 283]
[85 STAT. 283]
PUBLIC LAW 92-000—MMMM. DD, 1971

85 STAT. ]

PUBLIC LAW 92-78-AUG. 10, 1971

283

FEDERAL HOME LOAN B A N K BOARD INTEREST ADJUSTMENT PAYMENTS

For payments to Federal home loan banks for the purpose of adjusting the effective interest rates charged by such banks, as authorized by section 101 of the Emergency Home Finance Act of 1970, ^^

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$62,500,000.

84 Stat. 45o., 19 TTSr' 14^0

note.

L I M I T A T I O N ON ADMINISTRATIVE A N D N O N ADMINISTRATIVE E X P E N S E S, FEDERAL H O M E LOAN B A N K BOARD

Not to exceed a total of $8,123,500 shall be available for administrative expenses of the Federal Home Loan Bank Board, which may procure services as authorized by 5 U.S.C. 3109, and contracts for so Stat. 4i6. such services with one organization may be renewed annually, and uniforms or allowances therefor in accordance with law (5 U.S.C. 5901-5902), and said amount shall be derived from funds available gi^s^^j^^'og"^' to the Federal Home Loan Bank Board, including those in the Federal Home Loan Bank Board revolving fund and receipts of the 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, the Federal Home Loan Mortgage Corporation, and other agencies of the Government (including payment for office space): Provided, That all necessary expenses in connection with the conservatorship or liquidation of institutions insured by the Federal Savings and Loan Insurance Corporation, liquidation or handling of assets of or derived from such insured institutions, payment of insurance, and action for or toward the avoidance, termination, or minimizing of losses in the case of such insured institutions, or activities relating to section 5A(f) or 6(i) of the Federal Home Loan Bank Act, section 5(d) of the Home Owners' 82 Stat. 856; Loan Act of 1933, or section 406(c), 407, or 408 of the National Hous- 12 USC 14*25a, ing Act and all necessary expenses (including services performed on 1426. a contract or fee basis, but not including other personal services) in I2 USC 1729" connection with the handling, including the purchase, sale, and 1730a. exchange, of securities on behalf of Federal home loan banks, and the sale, issuance, and retirement of, or payment of interest on, debentures or bonds, under the Federal Home Loan Bank Act, as amended, shall be considered as nonadministrative expenses for the purposes hereof: Provided further, That members and alternates of the Federal Savings and Loan Advisory Council shall be entitled to reimbursement from the Board as approved by the Board for transportation expenses incurred in attendance at meetings of or concerned with the work of such Council and may be paid not to exceed $25 per diem in lieu of subsistence: Provided further, That expenses of any functions of supervision (except of Federal home loan banks) vested in or exercisable by the Board shall be considered as nonadministrative expenses: Provided further. That not to exceed $1,000 shall be available for official reception and representation expenses: Provided further, That, notwithstanding any other provisions of this Act, except for the limitation in amount hereinbefore specified, the administra-