
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 25USC4191]

 
                            TITLE 25--INDIANS
 
  CHAPTER 43--NATIVE AMERICAN HOUSING ASSISTANCE AND SELF-DETERMINATION
 
   SUBCHAPTER VI--FEDERAL GUARANTEES FOR FINANCING FOR TRIBAL HOUSING 
                               ACTIVITIES
 
Sec. 4191. Authority and requirements


(a) Authority

    To such extent or in such amounts as provided in appropriations 
Acts, the Secretary may, subject to the limitations of this subchapter 
(including limitations designed to protect and maintain the viability of 
rental housing units owned or operated by the recipient that were 
developed under a contract between the Secretary and an Indian housing 
authority pursuant to the United States Housing Act of 1937 [42 U.S.C. 
1437 et seq.]), and upon such terms and conditions as the Secretary may 
prescribe, guarantee and make commitments to guarantee, the notes or 
other obligations issued by Indian tribes or tribally designated housing 
entities with tribal approval, for the purposes of financing affordable 
housing activities described in section 4132 of this title.

(b) Lack of financing elsewhere

    A guarantee under this subchapter may be used to assist an Indian 
tribe or housing entity in obtaining financing only if the Indian tribe 
or housing entity has made efforts to obtain such financing without the 
use of such guarantee and cannot complete such financing consistent with 
the timely execution of the program plans without such guarantee.

(c) Terms of loans

    Notes or other obligations guaranteed pursuant to this subchapter 
shall be in such form and denominations, have such maturities, and be 
subject to such conditions as may be prescribed by regulations issued by 
the Secretary. The Secretary may not deny a guarantee under this 
subchapter on the basis of the proposed repayment period for the note or 
other obligation, unless the period is more than 20 years or the 
Secretary determines that the period causes the guarantee to constitute 
an unacceptable financial risk.

(d) Limitation on outstanding guarantees

    No guarantee or commitment to guarantee shall be made with respect 
to any note or other obligation if the total outstanding notes or 
obligations of the issuer guaranteed under this subchapter (excluding 
any amount defeased under the contract entered into under section 
4192(a)(1) of this title) would thereby exceed an amount equal to 5 
times the amount of the grant approval for the issuer pursuant to 
subchapter III of this chapter.

(Pub. L. 104-330, title VI, Sec. 601, Oct. 26, 1996, 110 Stat. 4046.)

                       References in Text

    The United States Housing Act of 1937, referred to in subsec. (a), 
is act Sept. 1, 1937, ch. 896, as revised generally by Pub. L. 93-383, 
title II, Aug. 22, 1974, 88 Stat. 653, which is classified generally to 
chapter 8 (Sec. 1437 et seq.) of Title 42, The Public Health and 
Welfare. For complete classification of this Act to the Code, see Short 
Title note set out under section 1437 of Title 42 and Tables.


                             Effective Date

    Section 606 of Pub. L. 104-330 provided that: ``This title [enacting 
this subchapter] shall take effect on the date of the enactment of this 
Act [Oct. 26, 1996].''
