42 U.S. Code § 1437z–2 - Public housing mortgages and security interests
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(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) of this section, 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
Source(Sept. 1, 1937, ch. 896, title I, § 30, as added Pub. L. 105–276, title V, § 516,Oct. 21, 1998, 112 Stat. 2550.)
Section effective and applicable beginning upon Oct. 1, 1999, except as otherwise provided, with provision that Secretary may implement section before such date except to extent otherwise provided, see section 503 ofPub. L. 105–276, set out as an Effective Date of 1998 Amendment note under section 1437 of this title.
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