Revolving Fund: Interest-Free Loans to Klamath Indians; Refinancing Lending Agency Loans
[Pub. L. 86–40], June 11, 1959, [73 Stat. 70], provided: “That the Secretary of the Interior is authorized to make loans, without interest, from the revolving fund authorized by the Acts of June 18, 1934 ([48 Stat. 986]; [25 U.S.C. 470]), and June 26, 1936 ([49 Stat. 1968]; [25 U.S.C. 506]), as amended and supplemented, to members of the Klamath Tribe of Indians who elected to withdraw from the tribe pursuant to the Act of August 13, 1954 ([68 Stat. 718]; [25 U.S.C. 564]), as amended, regardless of the degree of Indian blood of the borrower, and to collect such loans by setoff against funds payable to the borrower pursuant to said Act of August 13, 1954, as amended [this subchapter]. The Secretary is also authorized to refinance from such revolving fund any loan made by a lending agency to a withdrawing Klamath Indian that is secured by encumbrance of his beneficial interest in tribal property with the approval of the Secretary as required by section 4 of said 1954 Act [[section 564c of this title]], and to include therein a nonreimbursable grant equal to the interest charges incurred by the borrower prior to such refinancing. In the event adequate funds are not available from the revolving fund to refinance a loan by such lending agency, the Secretary is authorized to pay from the revolving fund, without reimbursement, the interest charged on such loan.”
Indian Revolving Loan Fund
Certain funds to be administered as a single Indian Revolving Loan Fund after Apr. 12, 1974, see [section 1461 of this title].
Repeals; Recoupment of Funds Expended for Klamath County School Board
[Act Aug. 13, 1954, ch. 732, § 24], [68 Stat. 723], as amended by [Pub. L. 85–72], June 29, 1957, [71 Stat. 243], provided that: “All Acts or parts of Acts inconsistent with this Act [this subchapter] are hereby repealed insofar as they affect the tribe or its members. Effective on July 1, 1957, [section 2 of the Act of August 19, 1949] ([63 Stat. 621], ch. 488) shall become inapplicable to the unrecouped balance of funds expended in cooperation with the school board of Klamath County, Oregon, pursuant to said Act.”
Separability
[Act Aug. 13, 1954, ch. 732, § 25], [68 Stat. 723], provided that: “If any provision of this Act [this subchapter], or the application thereof to any person or circumstance, is held invalid, the remainder of the Act and the application of such provision to other persons or circumstances shall not be affected thereby.”
