95-23899. Notice of Debenture Recall

[Federal Register Volume 60, Number 187 (Wednesday, September 27, 1995)]
[Notices]
[Pages 49849-49850]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23899]



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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner
[Docket No. FR-3948-N-02]


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, 
D.C. 20410, Telephone [phone]; TDD: [phone]). These are 
not toll-free numbers.

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 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, 1995. The date of the 
call is January 1, 1996. To insure timely payment, debentures should be 
presented to the Federal Reserve Bank of Philadelphia by December 1, 
1995.
    The debentures 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 date 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, 1995. 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, 1996, will be made to the registered holder or assignee. 

[[Page 49850]]

    Instructions for the presentation and surrender of debentures for 
redemption will be provided to holders by the Department.

    Dated: September 11, 1995.
James E. Schoenberger,
Associate General Deputy, Assistant Secretary for Housing-Federal 
Housing Commissioner.
[FR Doc. 95-23899 Filed 9-26-95; 8:45 am]
BILLING CODE 4210-27-P