856

The Department of Housing is hereby authorized, through the Housing Bank and Finance Agency of Puerto Rico, to incur obligations up to the amount of two million three hundred thousand dollars ($2,300,000) for the payment of interest subsidies for fiscal years 1978-79 and 1979-80.The Housing Bank and Finance Agency of Puerto Rico is hereby appropriated the sum of two million, six hundred thousand dollars ($2,600,000) for the Insured Mortgage Reserve Fund created by virtue of §§ 261—271a of Title 7, to provide the mortgage insurance guarantee to the mortgage loans originated under §§ 851—856 of this title.The funds needed for subsequent years to honor the obligations incurred by the Housing Bank and Finance Agency in administering §§ 851—856 of this title, including the obligations which it may incur in order to prepay, purchase or otherwise totally or partially settle the obligations contracted in administering §§ 851—856 of this title shall be consigned in the Department of Housing’s budget. History —June 1, 1979, No. 58, p. 119, § 4, renumbered as § 5 on June 3, 1982, No. 33, p. 72, § 5; July 11, 1986, No. 115, p. 366, § 5.