Title 42, The Public Health and WelfareRelease 119-73not60
§1437z–2 Public Housing Mortgages and Security Interests
Title 42 › Chapter 8— LOW-INCOME HOUSING › Subchapter I— GENERAL PROGRAM OF ASSISTED HOUSING › § 1437z–2
Summary
The Secretary may let a public housing agency borrow against its projects or other agency property under terms the Secretary sets, considering if the money will fund low‑income housing, the agency’s ability to pay, and other factors. Approvals do not create liability for the Federal Government.
Full Legal Text
Title 42, §1437z–2
The Public Health and Welfare, Source: USLM XML via OLRC
(a)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)In making any authorization under subsection (a), 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
(3)such other criteria as the Secretary may specify.
(c)No action taken under this section shall result in any liability to the Federal Government.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
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 of Pub. L. 105–276, set out as an
Effective Date
of 1998 Amendment note under section 1437 of this title.
Reference
Citations & Metadata
Citation
42 U.S.C. § 1437z–2
Title 42, The Public Health and Welfare
Last Updated
Apr 5, 2026
Release point: 119-73not60