A bill to amend the Communications Act of 1934 to provide for loan assistance to certain cable television systems.

[AI summary unavailable — showing source text] Authorizes the Secretary of Housing and Urban Development to make loans to any eligible cable television system to enable such system to furnish cable television service or to improve cable television service furnished by it. Provides that such loans shall not be made unless the Secretary finds and certifies that in his judgement the security therefore is reasonably adequate and such loan will be repaid within the time agreed. States that the loans may be made only for the purpose of financing the improvement, expansion, construction, acquisition, and operation of cable television facilities or to furnish and improve cable television service. Directs the Secretary of the Treasury to make loans to the Secretary of Housing and Urban Development in such amounts, for each fiscal year commencing with the fiscal year 1973 as Congress may from time to time determine to be necessary to carry out the purposes of this Act. Authorizes to be appropriated such sums as may be necessary to carry out the purposes of this Act. Authorizes the Secretary of Housing and Urban Development to bid for and purchase at any foreclosure or other sale, or otherwise acquire, property pledged or mortaged to secu…