995 

 109 



(6) the approval of the Secretary of the Treasury shall be 

 required with respect to any guarantee tnade uruier this section^ 

 except that the Kiccretary of ttie 1 reasary itiay waive this require- 

 ment with respect to ttie issuing of any such obligation wlien 

 he detenni'ioes that such issuing does not liave a significant im- 

 pact on the market for Federal Government and Federal Govem- 

 meid- guaranteed securities; 



(7) t/ce /Secretary deter7nines that there is reasonable assur- 

 ance that tlie issuer of the evidence of indebted?iess will be able 

 to make the payments of the principal of and interest on such 

 evidence of itulebtedriess; and 



{8) 710 guarantee shall be made after September 30, 1981. 

 (d) (J ) Prior to the time when the fii'st bond or other evidence of 

 indebtedness is guaranteed under this section, the /Secretary shall pub- 

 lish in the Federal Register a list of the proposed ter^ms and conditions 

 under v)hich bonds and other evidences of indebtedness will be guar- 

 anteed under this section. For at least thirty days following such pub- 

 lication, the Secretary shall receive, and give consideration to, com- 

 ments from the public concerning such terms and conditions. Follow- 

 ing this period, the Secretary shall publish in the Federal Register 

 a fin/il list of the conditions under which bonds a7id other evidences of 

 indebtedTiess will be guaranteed under this section. The initial guar- 

 antee made uruier this sectio7i 7nay not be conducted until thirty days 

 after the final list of terms and conditions is published. 



(2) Prior to making any aTnendment to such finaL list of terms and 

 conditions, the Secretai^ shall publish such amendrnent in the Fed- 

 eral Register and 7'eceive, and give consideration to, comments from 

 the public for at least thirty days following such publication. Fol- 

 lowing this period, the Secretary shall publish in the Federal Register 

 the fiTud form of the amendment, and such amendment shall not be- 

 come effective until thii^ty days after this publication. 



{e) The full faith and credit of the United States is pledged to the 

 payment of all guarantees 7nade under this section with respect to prin- 

 cipal, interest, and day redemption p7'e7niu7ns. Any such guarantee 

 rriade by the Secrtai^ shall be conclusive evidence of the eligibility of 

 the obligation i7ivolved for such guarantee, arid the validity of any 

 guarantee so made shall be incontestable in the hands of a holder of 

 the guaranteed obligation. 



(/) Th£^ Secretary shall prescribe and collect a fee in connection with 

 guarantees made under this section. This fee may not exceed the 

 amount which the Secretary estimates to be necessary to cover the 

 administrative costs of carrying o\it this section. Fees collected under 

 this subsection shall be deposited in the revolving fund established 

 under subsection (i) . 



(g) With respect to any obligation gu/iranteed under this section, 

 the interest payment paid on su^h obligation and received by the pur- 

 chaser thereof {or his successor iv interest) shall be included in gross 

 income for the purpose of chapter 1 of the Interned Revenue Code of 

 195A. 



(h) (1) Payments required to he made as a result of any guarantee 

 made under this section shall he m/ide hv the Secretary from, funds 

 which m/iy be apvropriated to the revdlvinq f^ind established, bv sub- 

 section (i) or from funds obtained from the Secretary of the Treas- 



