Farmers’ Home Administration

Farmers’ Home Administration To carry into effect the provisions of titles I, II, and the related provisions of title IV of the Bankhead-Jones Farm Tenant Act, as amended (7 U. S. C. 1000–1031), the Farmers’ Home Administration Act of 1946 (7 U. S. C. 1001, note; 31 U. S. C. 82h; 12 U. S. C. 371; 35 D. C. Code 535; 60 Stat. 1062–1080); the Act of July 30, 1946 (40 U. S. C. 436–439); the Act of August 28, 1937, as amended (16 U. S. C. 590r–590x, 590z–5), for the development of facilities for water storage and utilization in the arid and semiarid areas of the United States; the provisions of title V of the Housing Act of 1949 relating to financial assistance for farm housing (42 U. S. C. 1471–1483); the Rural Rehabilitation Corporation Trust Liquidation Act, approved May 3, 1950 (Public Law 499); and the Act to direct the Secretary of Agriculture to convey certain mineral interests, approved September 6, 1950 (Public Law 760), as follows: loan authorization For loans (including payments in lieu of taxes and taxes under section 50 of the Bankhead-Jones Farm Tenant Act, as amended, and advances incident to the acquisition and preservation of security of obligations under the foregoing several authorities): Title I and section 43 of title IV of the Bankhead-Jones Farm Tenant Act, as amended, and title V of the Housing Act of 1949 (except grants under 504 (a)) $38,000,000, of which not to exceed $5,000,000 of the amount available for the purposes of title I and section 43 of the Bankhead-Jones Farm Tenant Act, as amended, may be distributed to States and Territories without regard to farm population and prevalence of tenancy, in addition to the amount otherwise distributed thereto, for loans in reclamation projects and to entrymen on unpatented public land (sums available for loans under title V of the Housing Act of 1949 to remain available until expended); title II of the Bankhead-Jones Farm Tenant Act, as amended, $110,000,000; the Act of August 28, 1937, as amended, $5,000,000: Provided, That not to exceed the foregoing several amounts shall be borrowed in one account from the Secretary of the Treasury, and, hereafter, such sums annually for the purposes of this paragraph as the Congress may determine by provision in appropriation acts, on the request of the Secretary of Agriculture, at such rate of interest as may be determined by the Secretary of the Treasury, but not in excess of 3 per centum per annum; and the Secretary of the Treasury is hereby authorized and directed to lend such sums to the Secretary upon the security of any obligations of borrowers from the Secretary under the provisions of said Acts: Provided further, That the Secretary may utilize proceeds from payments of principal and interest under such Acts to repay the Secretary of the Treasury the amounts borrowed therefrom for the purposes of such Acts: Provided further, That for the purpose of making loans pursuant to the foregoing authority, the Secretary of the Treasury is authorized to use as a public-debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under that Act are extended to include such loans to the Secretary: Provided further, That repayments to the Secretary of the Treasury on such loans shall be treated as a public-debt transaction. salaries and expenses For the making, servicing, and collecting of loans and insured mortgages, the servicing and collecting of loans made under prior authority, the liquidation of assets transferred to Farmers’ Home 65 Stat. 241 Administration pursuant to the Farmers’ Home Administration Act of 1946, the extension of financial assistance under the Housing Act of 1949, and the administration of assets transferred under subsection 2 (f) of the Act of May 3, 1950, $27,825,000. together with a transfer to this appropriation item of not to exceed $230,000 of the fees and administrative expense charges made available by subsections (d) and (e) of section 12 of the Bankhead-Jones Farm Tenant Act, as amended.