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<br /> and 1984 single family mortgage revenue bond programs as set <br /> forth in the 1982 and 1984 program summaries attached hereto <br /> as Exhibit "A" and "B", respectively. <br /> Assessment of Compliance <br /> Section 103A(j) (5) (B) (ii) of the Code requires that <br /> each annual policy statement include an assessment of the <br /> compliance of the governmental unit during the one-year <br /> period preceding the date of the statement with: <br /> (a) the annual policy statement on mortgage <br /> revenue bonds and mortgage credit certificates of the <br /> governmental unit for the preceding year, if any; and <br /> (b) the intent of Congress that state and local <br /> governments are expected to use their authority to <br /> issue mortgage revenue bonds and mortgage credit <br /> certificates to the greatest extent feasible (taking <br /> into account prevailing interest rates and conditions <br /> in the housing market) to assist lower income families <br /> to afford home ownership before assisting higher income <br /> families. <br /> This statement is the first such annual policy statement of <br /> the Corporation. Therefore, this portion of this Statement <br /> contains an assessment of compliance only with respect to <br /> the matters set forth in subparagraph (b) above. <br /> On May 26, 1982, the Corporation issued its $24,950,000 <br /> Single Family Mortgage Revenue Bonds, Series 1982 (the "1982 <br /> Bonds"). The origination period for the 1982 Bonds ended on <br /> November 26, 1983, which is within the one-year period <br /> covered by this assessment of compliance. Proceeds of the <br /> 1982 Bonds have been used to acquire 191 mortgage loans' <br /> having an average mortgage loan amount of $54,926. The <br /> -5- <br />