Reading Room Document

Guaranties of Obligations of Local Urban Renewal and Public Housing Agencies.

The document is a memorandum to the Attorney General regarding a proposed opinion to the President about the guarantee of obligations of local urban renewal and public housing agencies. The opinion confirms that the United States is bound to provide funds for local agencies' obligations, regardless of pending lawsuits or disputes. The document also includes a request for the President's approval to publish the opinion. The questions presented for review include the effectiveness of the government's pledge and incontestability provisions in binding the United States in the case of pending disputes, as well as the impact of private financing on reducing the Treasury's borrowing needs.

October 25, 1965