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U.S. Code as of:
01/19/04
Section 1701g-5. Revolving fund in connection with liquidating programs
There is established as of June 30, 1954, a revolving fund, and
the Secretary of Housing and Urban Development is authorized to
credit said fund with all moneys hereafter obtained or now held by
him or by any constituent agency of the Department of Housing and
Urban Development or any other official thereof, and to account
under said fund for all assets and liabilities, in connection with
(1) community facilities provided or assisted under title II of the
Lanham Act, as amended [42 U.S.C. 1531 et seq.], or under title III
of the Defense Housing and Community Facilities and Services Act of
1951, as amended [42 U.S.C. 1592 et seq.]; (2) loans or advances
made pursuant to title V of the War Mobilization and Reconversion
Act of 1944 (58 Stat. 791), or the Act of October 13, 1949; (3)
functions transferred under Reorganization Plan No. 23 of 1950, or
authorized under sections 102, 102a, 102b, and 102c of the Housing
Act of 1948, as amended [12 U.S.C. 1701g to 1701g-3]; (4) notes or
other obligations purchased pursuant to the Alaska Housing Act, as
amended (48 U.S.C. 484(a)); (5) subsistence homesteads and
greentowns (Acts of June 29, 1936, 49 Stat. 2035, and May 19, 1949,
63 Stat. 68); (6) public war housing under title I of the Lanham
Act, as amended [42 U.S.C. 1521 et seq.], and defense housing under
title III of the Defense Housing and Community Facilities and
Services Act of 1951, as amended [42 U.S.C. 1592 et seq.]; and (7)
veterans' re-use housing under title V of the Lanham Act, as
amended [42 U.S.C. 1571 et seq.]: Provided, That said fund shall be
available for all necessary expenses (including administrative
expenses) in connection with the liquidation of the programs
carried out pursuant to the foregoing provisions of law, including
operation, maintenance, improvement, or disposition of facilities,
and for disbursements pursuant to outstanding commitments against
moneys herein authorized to be credited to said fund, repayment of
obligations to the Treasury, and refinancing and refunding
operations on existing loans: Provided further, That any amount in
said fund which is determined to be in excess of requirements for
the purposes hereof shall be declared and paid as liquidating
dividends to the Treasury not less often than annually: Provided
further, That after June 24, 1954, no additional notes or
obligations shall be purchased from funds appropriated pursuant to
the Alaska Housing Act, as amended (48 U.S.C. 484(d)), except for
the furtherance or refinancing of an existing loan: Provided
further, That except for extensions, or refinancing, of existing
obligations the authority to issue obligations to the Secretary of
the Treasury under section 1(4) of Reorganization Plan No. 23 of
1950, shall terminate on June 30, 1954.
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