§ 697a. Private debenture sales
(a)
Notwithstanding any other law, rule, or regulation, the Administration shall sell to investors, either publicly or by private placement, debentures pursuant to section
697 of this title as follows:
(1)
Of the program levels otherwise authorized by law for fiscal year 1986, an amount not to exceed $200,000,000.
(b)
Nothing in any provision of law shall be construed to authorize the Federal Financing Bank to acquire—
(1)
any obligation the payment of principal or interest on which at any time has been guaranteed in whole or in part under section
697 of this title and which is being sold pursuant to the provisions of the program authorized in this section;