Public Health Service Act: Mortgage Loan Insurance. Hearings Before the Committee on Interstate and Foreign Commerce, House of Representatives, Eighty-third Congress, Second Session, on H. R. 7700, a Bill to Amend the Public Health Service Act to Provide Mortgage Loan Insurance for Hospitals and Medical Facilities Used in Connection with Voluntary Prepayment Health Plans

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Considers legislation to establish a mortgage insurance program for medical facilities.
 

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Seite 6 - The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations to be issued hereunder and for such purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of such notes and obligations.
Seite 18 - We have been advised by the Bureau of the Budget that it has no objection to the submission of this report from the standpoint of the administration's program.
Seite 12 - Public Health Service, under the supervision and direction of the Secretary of Health, Education, and Welfare...
Seite 6 - Payment to cover the cost of such utilization or of carrying out such delegated function shall be made either in advance, or by way of reimbursement, as may be provided in such agreement.
Seite 6 - Treasury, taking into consideration the current average rate on outstanding marketable obligations of the United States as of the last day of the month preceding the issuance of the obligations.
Seite 8 - For the purposes of this subsection, the value of the mortgage shall be determined, in accordance with rules and regulations prescribed by the Secretary, by adding to the amount of the original principal obligation of the mortgage which was unpaid on the date of the institution of foreclosure proceedings...
Seite 10 - Administrator in handling, dealing with, acquiring title to. and disposing of such mortgage and property and in collecting such claims, exceeds the face value of the debentures issued and the cash adjustment paid to the mortgagee...
Seite 9 - ... (c) Debentures issued under this section shall be in such form and denominations in multiples of $50, shall be subject to such terms and conditions, and shall include such provisions for redemption, if any, as may be prescribed by the Secretary with the approval of the Secretary of the Treasury, and may be in coupon or registered form.
Seite 11 - ... shall be considered a default under such mortgage and, if such default continues for a period of thirty days, the mortgagee shall be entitled to receive the benefits of the insurance as hereinafter provided, upon assignment, transfer, and...
Seite 8 - Secretary determines to be equitable, but not in excess of the aggregate amount of the premium charges that the mortgagee would otherwise have been required to pay if the mortgage had continued to be insured until such maturity date...

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