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U.S. Code as of:
01/19/04
Section 2294a. Contracts for periodic payments to offset costs of purchase of obligations of local public housing agencies
In addition to any authority provided before October 1, 1981, the
Secretary of Housing and Urban Development may, on and after
October 1, 1981, enter into contracts for periodic payments to the
Federal Financing Bank to offset the costs to the Bank of
purchasing obligations (as described in the first sentence of
section 2294(b) of this title) issued by local public housing
agencies for purposes of financing public housing projects
authorized by section 1437c(c) of title 42. Notwithstanding any
other provision of law, such contracts may be entered into only to
the extent approved in appropriation Acts, and the aggregate amount
which may be obligated over the duration of such contracts may not
exceed $400,000,000. There are hereby authorized to be appropriated
any amounts necessary to provide for such payments. The authority
to enter into contracts under this subsection shall be in lieu of
any authority (except for authority provided specifically to the
Secretary before October 1, 1981) of the Secretary to enter into
contracts for such purposes under section 2294(b) of this title.
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