[Federal Register Volume 59, Number 187 (Wednesday, September 28, 1994)]
[Unknown Section]
[Page ]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-23986]


[Federal Register: September 28, 1994]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner
[Docket No. 94-3818; FR-3784-N-01]


Notice of Debenture Recall

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Notice.

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SUMMARY: This Notice announces a debenture recall of certain Federal 
Housing Administration debentures, in accordance with authority 
provided in the National Housing Act.

FOR FURTHER INFORMATION CONTACT:
Richard Keyser, Room B133, Department of Housing and Urban Development, 
451 Seventh Street SW., Washington, DC. 204510, telephone (202) 755-
7510. This is not a toll-free number.

SUPPLEMENTARY INFORMATION: Pursuant to section 207(j) of the National 
Housing Act, 12 U.S.C. 1713(j), and in accordance with HUD regulations 
at 24 CFR 207.259(e)(3), the Federal Housing Commissioner, with 
approval of the Secretary of the Treasury, announces the call of all 
Federal Housing Administration debentures with coupon rates of 7.5 
percent or higher, except for those debentures subject to ``debenture 
lock agreements,'' that have been registered on the books of the 
Federal Reserve Bank of Philadelphia, and are, therefore, 
``outstanding'' as of September 30, 1994. The date of the call is 
January 1, 1995. To insure timely payment, debentures should be 
presented to the Federal Reserve Bank of Philadelphia by December 1, 
1994.
    The debenture will be redeemed at par plus accrued interest. 
Interest will cease to accrue on the debentures as of the call date. 
Final interest on any called debentures will be paid with the principal 
at redemption.
    During the period from the dates of this notice to the call date, 
debentures that are subject to the call may not be used by the 
mortgagee for a special redemption purchase in payment of a mortgage 
insurance premium.
    No transfer or denominational exchanges of debentures covered by 
the foregoing call will be made on the books maintained by the Treasury 
Department on or after October 1, 1994. This does not affect the right 
of the holder of a debenture to sell or assign the debenture on or 
after this date. Payment of final principal and interest due on January 
1, 1995, will be made to the registered holder or assignee.
    Instructions for the presentation and surrender of debentures for 
redemption will be provided to holders by the Department.

    Dated: September 20, 1994.
Jeanne K. Engel,
General Deputy Assistant Secretary for Housing-Federal Housing 
Commissioner.
[FR Doc. 94-23986 Filed 9-27-94; 8:45 am]
BILLING CODE 4210-27-M