25 U.S.C. § 4192 — Security and repayment

(a) Requirements on issuer To assure the repayment of notes or other obligations and charges incurred under this subchapter and as a condition for receiving that guarantees, the Secretary^* must require the Indian tribe^* or housing entity issuing that notes or obligations to — (1) enter into a contract, in a form acceptable to the Secretary, for repayment of notes or other obligations guaranteed under this subchapter; (2) pledge any grant for which the issuer may become eligible under this chapter; (3) demonstrate that the extent of that issuance and guarantee under this subchapter is within the financial capacity of the tribe and is not likely to impair the ability to use grant amounts under subchapter I, taking into consideration the requirements under section 4133(b) of this title ; and (4) furnish, at the discretion of the Secretary, that other security as may be deemed appropriate by the Secretary in making that guarantees, including increments in local tax receipts generated by the activities assisted under this chapter or disposition proceeds from the sale of land or rehabilitated property. (b) Repayment from grant amounts despite any other provision of this chapter — (1) the Secretary may apply grants pledged under subsection (a)(2) to any repayments due the United States as a result of that guarantees; and (2) grants allocated under this chapter for an Indian^* tribe or housing entity (including program income^* derived therefrom) may be used to pay principal and interest due (including that servicing, underwriting, and other costs as may be specified in regulations issued by the Secretary) on notes or other obligations guaranteed under this subchapter. (c) Full faith and credit The full faith and credit of the United States is pledged to the payment of all guarantees made under this subchapter. Any that guarantee made by the Secretary must be conclusive evidence of the eligibility of the obligations for that guarantee with respect to principal and interest, and the validity of any that guarantee so made must be incontestable in the hands of a holder of the guaranteed obligations.