 
      CHAPTER 28--HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE
 
                    SUBCHAPTER III--INSTITUTIONAL AID
 
   Part D--Historically Black College and University Capital Financing
 
Sec. 1066d. Authority of Secretary

    In the performance of, and with respect to, the functions vested in 
the Secretary by this part, the Secretary--
        (1) shall, within 120 days of July 23, 1992, publish in the 
    Federal Register a notice and request for proposals for any private 
    for-profit organization or entity wishing to serve as the designated 
    bonding authority under this part, which notice shall--
            (A) specify the time and manner for submission of proposals; 
        and
            (B) specify any information, qualifications, criteria, or 
        standards the Secretary determines to be necessary to evaluate 
        the financial capacity and administrative capability of any 
        applicant to carry out the responsibilities of the designated 
        bonding authority under this part;

        (2) shall require that the first loans for capital projects 
    authorized under section 1066b of this title be made no later than 
    March 31, 1994;
        (3) may sue and be sued in any court of record of a State having 
    general jurisdiction or in any district court of the United States, 
    and such district courts shall have jurisdiction of civil actions 
    arising under this part without regard to the amount in controversy, 
    and any action instituted under this part without regard to the 
    amount in controversy, and any action instituted under this section 
    by or against the Secretary shall survive notwithstanding any change 
    in the person occupying the office of the Secretary or any vacancy 
    in such office;
        (4)(A) may foreclose on any property and bid for and purchase at 
    any foreclosure, or any other sale, any property in connection with 
    which the Secretary has been assigned a loan pursuant to this part; 
    and
        (B) in the event of such an acquisition, notwithstanding any 
    other provisions of law relating to the acquisition, handling, or 
    disposal of real property by the United States, complete, 
    administer, remodel and convert, dispose of, lease, and otherwise 
    deal with, such property, except that--
            (i) such action shall not preclude any other action by the 
        Secretary to recover any deficiency in the amount of a loan 
        assigned to the Secretary; and
            (ii) any such acquisition of real property shall not deprive 
        any State or political subdivision thereof of its civil or 
        criminal jurisdiction in and over such property or impair the 
        civil rights under the State or local laws of the inhabitants on 
        such property;

        (5) may sell, exchange, or lease real or personal property and 
    securities or obligations;
        (6) may include in any contract such other covenants, 
    conditions, or provisions necessary to ensure that the purposes of 
    this part will be achieved; and
        (7) may, directly or by grant or contract, provide technical 
    assistance to eligible institutions to prepare the institutions to 
    qualify, apply for, and maintain a capital improvement loan, 
    including a loan under this part.

(Pub. L. 89-329, title III, Sec. 345, formerly title VII, Sec. 725, as 
added Pub. L. 102-325, title VII, Sec. 704, July 23, 1992, 106 Stat. 
745; amended Pub. L. 103-208, Sec. 2(j)(16), Dec. 20, 1993, 107 Stat. 
2481; renumbered title III, Sec. 345, and amended Pub. L. 105-244, title 
III, Secs. 301(a)(3), (4), (c)(6), 306(c), Oct. 7, 1998, 112 Stat. 1636, 
1637, 1647.)

                          Codification

    Section was formerly classified to section 1132c-4 of this title 
prior to renumbering by Pub. L. 105-244.


                            Prior Provisions

    A prior section 345 of Pub. L. 89-329 was classified to section 
1069a of this title prior to the general amendment of this subchapter by 
Pub. L. 99-498.


                               Amendments

    1998--Par. (2). Pub. L. 105-244, Sec. 301(c)(6), substituted 
``section 1066b'' for ``section 1132c-2''.
    Par. (7). Pub. L. 105-244, Sec. 306(c), added par. (7).
    1993--Pars. (2) to (6). Pub. L. 103-208 added par. (2) and 
redesignated former pars. (2) to (5) as (3) to (6), respectively.


                    Effective Date of 1998 Amendment

    Amendment by Pub. L. 105-244 effective Oct. 1, 1998, except as 
otherwise provided in Pub. L. 105-244, see section 3 of Pub. L. 105-244, 
set out as a note under section 1001 of this title.


                    Effective Date of 1993 Amendment

    Amendment by Pub. L. 103-208 effective as if included in the Higher 
Education Amendments of 1992, Pub. L. 102-325, except as otherwise 
provided, see section 5(a) of Pub. L. 103-208, set out as a note under 
section 1051 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 1066a, 1066b, 1066g, 1068h 
of this title.
