xt7wwp9t4p6v https://exploreuk.uky.edu/dips/xt7wwp9t4p6v/data/mets.xml  United States Housing Authority 1939 v.: ill.; 29-40 cm. UK holds archival copy for ASERL Collaborative Federal Depository Library Program libraries and the Federal Information Preservation Network. Call Number FW 3.7: 1/17 journals English Washington, D.C.: Federal Works Agency, U.S. Housing Authority: For sale by the Supt. of Docs., U.S. G.P.O. Contact the Special Collections Research Center for information regarding rights and use of this collection. Works Progress Administration Housing Publications United States Housing Authority -- Periodicals Public housing -- United States -- Periodicals Public Housing: Weekly News from American Communities Abolishing Slums and Building Low-Rent Housing December 5, 1939 text Public Housing: Weekly News from American Communities Abolishing Slums and Building Low-Rent Housing December 5, 1939 1939 2019 true xt7wwp9t4p6v section xt7wwp9t4p6v 7" , . .. , ,.
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Vol.1, No. 17 Federal Works Agency, U. 8. Housing Authority — Nathan Straus, Administrator December 5,1939
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O I
Toledo Opens 78 Units Banks Respond chkly ,t . , 888.116
TngenantS 0,11, Eve Of Local Authority ' oft-:3 ;_erm Notes
Thanksglvmg Housing authorities in 11 cities re- tional Bank, National City Bank,
The first 78 units of the 384 plan- ceived a prompt response to the ﬁrst Bankers Trust C0., Guaranty Trust
ned for the Charles F. Weiler Homes, $50,000,000 issue of short-term notes. 00., Manufacturers Trust. Co., and
Toledo’s second public housing proj- Within a few days after the notes other banks in 32 cities from coast to
ect, were opened for tenant occupancy were issued they were snapped up by coast.
November 22, Thanksgiving Eve. local investors at, interest rates aver- Housing authorities participating
The remaining 306 units Will be com- aging less than {1—, of 1 percent. in the ﬁrst short-term issue represent
pleted early in 1940. . The cost to the local authorities of the cities of Atlanta, Ga.; Charleston,
The new prOJect, located in East the $50 000 000 raised by the short- S. 0.; Charleston, W. Va.; Chicago,
Toledo, was named for the late term bdndsywill be only about one— 111.; Washington, D. C.; Louisville,
Charles F. Weiler, ﬁrst chairman of ﬁfth of what they would pay for Ky.; Macon, Ga.; New Orleans, La;
the Toledo Metropolitan Housing Au- mone from USH A which unl ,_ the Peoria, 111.; Philadelphia, Pa; and
thority which was established in y ’ ’ (er 4 Pittsburgh Pa.
September 1933 law, .mUSt charge 8 to 314 percent for According to the terms of each bond
. The homes, modernistic in design public housingloans. , These substan— sale, the successful bidder pays all the
and equipped with modern conven- tlal sayings W111 be leflected in low- expenses of obtaining an approving
. ered subs1d1es and lowered rentals to . ,
lences, have concrete ﬂoors covered projec 3 ts opinion of bond counsel and all fees
With linoleum. The kitchen and b , and expenses of the paying agent. In
bathroom walls are covered with Bi 3 ‘ Ofﬁtefmt alersjcairre other words, the interest rate of less
washable paint, while walls in the from thei’nem 91'” ‘. ’ ’ ation— than {:0— of 1 percent represents the
other rooms are of plaster in natural Wide syndicate. The emicaj 11k net cost of the money to the local
ﬁnish & Trust Co. acted as manager for the authority.
(Continued on p, 2) group, which includes the Chase Na— Proceeds from the sale of this
2 a . ~,- . ,; ,» “” M.“ Short'tel‘m paper W1“ be used by local
, {33"“W‘t, if"; . , ' 3 I ,7 ma... Wﬁ‘ﬁrﬂw, housing authorities to defray early
73% a‘ﬂgﬁ““‘**‘”“*‘“~ & "ﬁgiﬁ; costs connected with construction or”
, :52. V, ‘ “, @ ' FEW‘ {it the prOJects. USHA’s loan contract
3 ». :61; \ﬁ'ﬁ _ I ,3; ”,7.:_:_‘ v,” agreement to advance funds Within a
. ~ ‘d 33” x I; 3% speciﬁed time represents security for
' . , . “ V 3%, 3, , ‘ , the short—term loans. When the notes
' 3‘ " _ . "V ; ; é become due USHA releases the con-
' a E g? i a 3 4 ‘ g tracted funds, and the local authority
' Q . 1;? f " , 0,, 1 redeems its short-term obligations.
‘ ,3 = ’, “,7; The short-term notes are non-call-
, , ' i ,3 -2 , . able and are wholly exempt from
g, “3; , ' ’ " is, . Federal income taxes. In most cases
a a” a i i V V _ , a they are also exempted from State
m ‘ taxes. They are offered to bidders
. rm ,,.,W,,x.,,_..,..,,- . . i, w «34.. Hammad M .y. . 3 ___, 3 denommatlon Of the notes, and the
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