Source: https://www.law.cornell.edu/uscode/text/42/1437i?qt-us_code_tabs=0
Timestamp: 2015-09-01 17:19:43
Document Index: 27562880

Matched Legal Cases: ['§ 1437', '§ 1437', '§ 1437', '§ 11', '§ 201', '§ 322', '§ 5', '§ 572', 'art 20', 'art 904', 'art 966']

42 U.S. Code § 1437i - Obligations of public housing agencies; contestability; full faith and credit of United States pledged as security; tax exemption | LII / Legal Information Institute
U.S. Code › Title 42 › Chapter 8 › Subchapter I › § 1437i 42 U.S. Code § 1437i - Obligations of public housing agencies; contestability; full faith and credit of United States pledged as security; tax exemption
Obligations issued by a public housing agency in connection with low-income housing projects which (1)
are secured (A)
by a pledge of a loan under any agreement between such public housing agency and the Secretary, or (B)
by a pledge of annual contributions under an annual contributions contract between such public housing agency and the Secretary, or (C)
by a pledge of both annual contributions under an annual contributions contract and a loan under an agreement between such public housing agency and the Secretary, and (2)
bear, or are accompanied by, a certificate of the Secretary that such obligations are so secured, shall be incontestable in the hands of a bearer and the full faith and credit of the United States is pledged to the payment of all amounts agreed to be paid by the Secretary as security for such obligations.
Except as provided in section 1437c
(g) of this title, obligations, including interest thereon, issued by public housing agencies in connection with low-income housing projects shall be exempt from all taxation now or hereafter imposed by the United States whether paid by such agencies or by the Secretary. The income derived by such agencies from such projects shall be exempt from all taxation now or hereafter imposed by the United States.
(Sept. 1, 1937, ch. 896, title I, § 11, as added Pub. L. 93–383, title II, § 201(a),Aug. 22, 1974, 88 Stat. 667; amended Pub. L. 97–35, title III, § 322(c),Aug. 13, 1981, 95 Stat. 402; renumbered title I, Pub. L. 100–358, § 5,June 29, 1988, 102 Stat. 681; Pub. L. 101–625, title V, § 572(2),Nov. 28, 1990, 104 Stat. 4236.)
A prior section 11 of act Sept. 1, 1937, ch. 896, 50 Stat. 893, as amended, authorized capital grants to public housing agencies in assistance of low rentals and was classified to section 1411 of this title, prior to the general revision of this chapter by Pub. L. 93–383.
1990—Pub. L. 101–625substituted “low-income housing” for “lower income housing” wherever appearing.
1981—Pub. L. 97–35substituted reference to lower income for reference to low-income wherever appearing.
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.24 CFR - Housing and Urban Development24 CFR Part 20 - OFFICE OF HEARINGS AND APPEALS24 CFR Part 904 - LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES24 CFR Part 966 - PUBLIC HOUSING LEASE AND GRIEVANCE PROCEDURE