Historically Black College and University Capital Financing Act of 1991

Summary

Historically Black College and University Capital Financing Act of 1991 - Authorizes the Secretary of Education (the Secretary) to enter into insurance agreements to provide financial insurance to guarantee full payment of principal and interest on qualified bonds to facilitate capital financing for historically Black colleges and universities (eligible institutions). Requires the Secretary to designate a qualified bonding authority that agrees to assume specified responsibilities, including using bond proceeds to make loans to eligible institutions for capital projects. Limits the aggregate principal amount of outstanding bonds insured under this Act together with any accrued unpaid interest thereon. Limits the specified portions of such aggregate amount which may be used for loans to eligible institutions that are, respectively, private or public. (Provides, for such purposes, that Lincoln University of Pennsylvania and Howard University in Washington, D.C., are public institutions.) Sets forth duties and powers of the Secretary under this Act, including procedures for designation of the bonding authority. Establishes, within the Department of Education, the Historically Black College and University Capital Financing Advisory Board. Provides for minority business enterprise utilization under this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 20 March 1991

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.