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42 U.S.C. § 1437z-2 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 1437z-2. Public housing mortgages and security interests

Current as of January 01, 2024 | Updated by FindLaw Staff

(a)General authorization

The Secretary may, upon such terms and conditions as the Secretary may prescribe, authorize a public housing agency to mortgage or otherwise grant a security interest in any public housing project or other property of the public housing agency.

(b)Terms and conditions

In making any authorization under subsection (a), the Secretary may consider--

(1) the ability of the public housing agency to use the proceeds of the mortgage or security interest for low-income housing uses;

(2) the ability of the public housing agency to make payments on the mortgage or security interest; and

(3) such other criteria as the Secretary may specify.

(c)No Federal liability

No action taken under this section shall result in any liability to the Federal Government.

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Cite this article: FindLaw.com - 42 U.S.C. § 1437z-2 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 1437z-2. Public housing mortgages and security interests - last updated January 01, 2024 | https://codes.findlaw.com/us/title-42-the-public-health-and-welfare/42-usc-sect-1437z-2/

Read this complete 42 U.S.C. § 1437z-2 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 1437z-2. Public housing mortgages and security interests on Westlaw

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