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PARTICIPATION SALES

EXCERPTS FROM PARTICIPATION SALES ACT OF 1966

[Public Law 89-429; 80 Stat. 164; 12 U.S.C. 1717a) SEC. 6. (b) After June 30, 1966, no department or agency listed in section 302(c2) of the Federal National Mortgage Association Charter Act may sell any obligation held by it except as provided in section 302(c) of that Act, or as approved by the Secretary of the Treasury, except that this prohibition shall not apply to the Government National Mortgage Association.

SEC. 9. The Federal National Mortgage Association is authorized during the fiscal year 1966 to sell

(1) additional participations in the Government Mortgage Liquidation Trust, and

(2) participations in a trust to be established by the Small

Business Administration, each without regard to the provisions of paragraph (4) of section 302(c) of the Federal National Mortgage Association Charter Act.

Approved May 24, 1966.

EXCERPTS FROM INDEPENDENT OFFICES APPROPRIATION ACT, 1967

(Public Law 89-555; 80 Stat. 663, 683!

FEDERAL NATIONAL MORTGAGE ASSOCIATION

PARTICIPATION SALES AUTHORIZATION

The Federal National Mortgage Association, as trustee, is hereby authorized to issue beneficial interests or participations in such obligations as may be placed in trust with such Association in accordance with section 302(c) of the Federal National Mortgage Association Charter Act, as amended by Public Law 89-429, for the accounts of the following departments and agencies, in not to exceed the following aggregate principal amounts:

The Farmers Home Administration of the Department of Agriculture, $600,000,000;

The Office of Education of the Department of Health, Education, and Welfare, $100,000,000;

The Department of Housing and Urban Development, $1,420,000,000;

The Veterans' Administration, $260,000,000; and

The Small Business Administration, $850,000,000; Provided, That the foregoing authorizations shall remain available until June 30, 1968.

PAYMENT OF PARTICIPATION SALES INSUFFICIENCIES To enable any department or agency named in paragraph (2) of section 302(c) of the Federal National Mortgage Association Charter Act, as added by Public Law 89-429, to pay the Federal National Mortgage Association, as trustee, such insufficiencies may be required by the trustee on account of such outstanding beneficial interests or participations as may be authorized by this Act to be issued pursuant to said section 302(c), such sums as may be necessary, to be available without fiscal year limitation.

Approved September 6, 1966.

EXCERPTS FROM DEPARTMENT OF AGRICULTURE AND RELATED

AGENCIES APPROPRIATION ACT, 1968

(Public Law 90-113; 81 Stat. 319, 331]

TITLE II—CREDIT AGENCIES

FARMERS HOME ADMINISTRATION

DIRECT LOAN ACCOUNT AND RURAL HOUSING DIRECT LOAN ACCOUNT

PARTICIPATION SALES AUTHORIZATION

The Federal National Mortgage Association, as trustee, is hereby authorized to issue beneficial interests or participations in such loan assets of the Farmers Home Administration Direct Loan ACcount and Rural Housing Direct Loan Account as may be placed in trust with such Association in accordance with section 302(c) of the Federal National Mortgage Association Charter Act, as amended for the account of the Farmers Home Administration of the Department of Agriculture, in addition to amounts heretofore authorized, in an aggregate principal amount not to exceed $750,000,000: Provided, That this authorization shall remain available until June 30, 1969.

PAYMENT OF SALES INSUFFICIENCIES For the payment of such insufficiencies as may be required by the trustee on account of outstanding beneficial interests or participations in the Farmers Home Administration Direct Loan Account or Rural Housing Direct Loan Account assets authorized by this Act to be issued pursuant to said section 302(c), $13,268,000, to remain available without fiscal year limitation.

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EXCERPTS FROM INDEPENDENT OFFICES AND DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT APPROPRIATION ACT, 1968

[Public Law 90-121; 81 Stat. 341, 352, 357)

VETERANS' ADMINISTRATION

PARTICIPATION SALES AUTHORIZATION

The Federal National Mortgage Association, as trustee, is hereby authorized to issue beneficial interests or participations in such loan assets of the Direct Loan Revolving Fund and the Loan Guaranty Revolving Fund as may be placed in trust with such association in accordance with section 302(c) of the Federal National Mortgage Association Charter Act, as amended, in an aggregate principal amount of not to exceed $850,000,000 in addition to amounts heretofore authorized: Provided, That this authorization shall remain available until June 30, 1969.

PAYMENT OF SALES INSUFFICIENCIES

For the payment of such insufficiencies as may be required by the trustee on account of outstanding beneficial interests or participations in Direct Loan Revolving Fund Assets or Loan Guaranty Revolving Fund assets authorized by this act to be issued pursuant to said section 302(c), as amended, not to exceed $665,000.

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

PARTICIPATION SALES AUTHORIZATIONS

The Federal National Mortgage Association, as trustee, is hereby authorized to issue beneficial interests or participations in such obligations as may be placed in trust with such Association in accordance with section 302(c) of the Federal National Mortgage Association Charter Act, as amended, for the account of the Department of Housing and Urban Development (including the Federal National Mortgage Association) not to exceed $2,385,000,000 in addition to amounts heretofore authorized in not to exceed the following principal amounts: Public facility loan fund, $80,000,000; College housing loan fund, $1,600,000,000; Housing for the elderly or handicapped fund, $100,000,000; FNMA special assistance functions, $250,000,000; and FNMA management and liquidation functions, $355,000,000: Provided, That the foregoing authorizations shall remain available until June 30, 1969.

PAYMENT OF PARTICIPATION SALES INSUFFICIENCIES

For the payment of such insufficiencies as may be required by the trustee on account of outstanding beneficial interests or participations authorized by this Act to be issued pursuant to section 302(c) of the Federal National Mortgage Association Charter Act, as amended, not to exceed $23,000,000.

Approved November 3, 1967.

EXCERPTS FROM DEPARTMENTS OF LABOR, AND HEALTH, EDUCATION,

AND WELFARE APPROPRIATION ACT, 1968

[Public Law 90-132; 81 Stat. 386, 394, 401]

TITLE II-DEPARTMENT OF HEALTH, EDUCATION, AND

WELFARE

OFFICE OF EDUCATION

*

PARTICIPATION SALES AUTHORIZATIONS

The Federal National Mortgage Association, as trustee, is hereby authorized to issue beneficial interests or participations in such assets from loans made by the Commissioner of Education for construction of academic facilities as may be placed in trust with Association in accordance with section 302(c) of the Federal National Mortgage Association Charter Act, as amended, in an aggregate principal amount of not to exceed $100,000,000, in addition to amounts heretofore authorized: Provided, That the foregoing authorization shall remain available until June 30, 1969.

PAYMENT OF PARTICIPATION SALES INSUFFICIENCIES For the payment of such insufficiencies as may be required by the trustee on account of outstanding beneficial interests or participations in assets of the Office of Education authorized by this Act to be issued pursuant to section 302(c) of the Federal National Mortgage Association Charter Act, as amended, $925,000.

PUBLIC HEALTH SERVICE

*

PARTICIPATION SALES AUTHORIZATION The Federal National Mortgage Association, as trustee, is hereby authorized to issue beneficial interests or participations in such loan assets of the Health Professions Education Fund and the Nurse Training Fund as may be placed in trust with such association in accordance with section 302(c) of the Federal National Mortgage Association Charter Act, as amended, in an aggregate principal amount of not to exceed $15,000,000: Provided, That this authorization shall remain available until June 30, 1969.

PAYMENT OF SALES INSUFFICIENCIES For the payment of such insufficiencies as may be required by the trustee on account of outstanding beneficial interests or participations in assets of the Public Health Service in Health Professions Education Fund assets or Nurse Training Fund assets, authorized by this act to be issued pursuant to said section 302(c), $250,000.

Approved November 8, 1967.

EXCERPTS FROM DEPARTMENTS OF STATE, JUSTICE, AND COMMERCE, THE JUDICIARY, AND RELATED AGENCIES APPROPRIATION ACT, 1968

(Public Law 90-133; 81 Stat. 410, 431)

SMALL BUSINESS ADMINISTRATION

PARTICIPATION SALES AUTHORIZATION The Federal National Mortgage Association, as trustee, is hereby authorized to issue beneficial interests or participations in such obligations as may be placed in trust with such Association in accordance with section 302(c) of the Federal National Mortgage Association Charter Act, as amended, for the account of the Small Business Administration, in an aggregate principal amount of not to exceed $150,000,000, in addition to amounts heretofore authorized: Provided, That this authorization shall remain available until June 30, 1969.

PAYMENT OF PARTICIPATION SALES INSUFFICIENCIES

To enable the Small Business Administration to pay the Federal National Mortgage Association, as trustee, such insufficiencies as may be required by the trustee on account of such outstanding beneficial interests or participations in obligations of the Small Business Administration, as may be authorized by this Act to be issued pursuant to section 302(c) of the Federal National Mortgage Association Charter Act, as amended, not to exceed $1,350,000.

Approved November 8, 1967.

EXCERPT FROM DEPARTMENTS OF LABOR AND HEALTH, EDUCATION,

AND WELFARE APPROPRIATION ACT, 1977

[Public Law 94-439; 90 Stat. 1418)

TITLE II—DEPARTMENT OF HEALTH, EDUCATION, AND

WELFARE

HEALTH RESOURCES ADMINISTRATION

*

PAYMENT OF SALES INSUFFICIENCES AND INTEREST LOSSES

For the payment of such insufficiencies as may be required by the trustee on account of outstanding beneficial interest or participations in the Health Professions Education Fund assets or Nurse Training Fund assets, authorized by the Department of Health,

36-210 0-84-29

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