§ 4191 TITLE 25—INDIANS Page 726

The Stewart B. McKinney Homeless Assistance Act,

referred to in text, is Pub. L. 100–77, July 22, 1987, 101

Stat. 482, as amended. Title IV of the Act is classified

principally to subchapter IV (§11361 et seq.) of chapter

119 of Title 42. For complete classification of this Act

to the Code, see Short Title note set out under section

11301 of Title 42 and Tables.

Section 2 of the HUD Demonstration Act of 1993, referred to in text, is section 2 of Pub. L. 103–120, Oct. 27,

1993, 107 Stat. 1144, which was set out as a note under

section 11301 of Title 42 prior to repeal by Pub. L.

103–120, §2(g).

This subchapter, referred to in subsec. (b), was in the

original ‘‘this title’’, meaning title V of Pub. L. 104–330,

which enacted this subchapter and section 12899h–1 of

Title 42, amended sections 1437a, 1437c to 1437e, 1437g,

1437l, 1437n, 1437u to 1437x, 1437aaa–5, 1437aaa–6, 1439,

11371 to 11376, 11382, 11401, 11403g, 11408, 11903a, 12747, and

12838 of Title 42, repealed sections 1437aa to 1437ee of

Title 42, enacted provisions set out as notes under sections 11371, 12747, and 12899h–1 of Title 42, amended provisions set out as a note under section 11301 of Title 42,

and repealed provisions set out as a note under section

1701z–6 of Title 12, Banks and Banking. For complete

classification of title V to the Code, see Tables.

The date of the effectiveness of the amendments

made by this subchapter, referred to in subsec. (b),

means the effective date of the amendments made by

title V of Pub. L. 104–330, which is Oct. 1, 1997, except

as otherwise expressly provided. See section 107 of Pub.

L. 104–330, set out as an Effective Date note under section 4101 of this title.

EFFECTIVE DATE

Section effective Oct. 26, 1996, see section 508 of Pub.

L. 104–330, set out as a note under section 4181 of this

title.

SUBCHAPTER VI—FEDERAL GUARANTEES

FOR FINANCING FOR TRIBAL HOUSING

ACTIVITIES

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in sections 4131, 4167 of

this title.

§ 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, §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 (§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].’’

§ 4192. Security and repayment

(a) Requirements on issuer

To assure the repayment of notes or other obligations and charges incurred under this subchapter and as a condition for receiving such

guarantees, the Secretary shall require the Indian tribe or housing entity issuing such notes

or obligations to—

(1) enter into a contract, in a form acceptable to the Secretary, for repayment of notes

or other obligations guaranteed under this

subchapter;

(2) pledge any grant for which the issuer

may become eligible under this chapter;

(3) demonstrate that the extent of such issuance and guarantee under this subchapter is

within the financial capacity of the tribe and

is not likely to impair the ability to use grant

amounts under subchapter I of this chapter,

taking into consideration the requirements

under section 4133(b) of this title; and

(4) furnish, at the discretion of the Secretary, such other security as may be deemed

appropriate by the Secretary in making such

guarantees, including increments in local tax

receipts generated by the activities assisted

under this chapter or disposition proceeds

from the sale of land or rehabilitated property.