[Request for Opinion on HUD Authority To Sell Obligations to FFB]

B-215605: Sep 30, 1985

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An opinion was requested concerning the Department of Housing and Urban Development's (HUD) authority to use its unused fiscal year 1983 budget authority to make interest payments to the Federal Financing Bank (FFB) in connection with a proposed sale of public housing obligations to FFB. GAO had informally advised HUD that the funds could not be used to make interest payments to FFB. Since a formal written response will serve no useful purpose, GAO will close its file on the matter unless advised to the contrary.