Public housing mortgages and security interests

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. the ability of the public housing agency to use the proceeds of the mortgage or security interest for low-income housing uses; the ability of the public housing agency to make payments on the mortgage or security interest; and such other criteria as the Secretary may specify. No action taken under this section shall result in any liability to the Federal Government. In making any authorization under subsection (a), the Secretary may consider— (Source: (Sept. 1, 1937, ch. 896, title I, § 30, as added Pub. L. 105–276, title V, § 516, Oct. 21, 1998, 112 Stat. 2550.))