Community Conservation Act of 1979

[AI summary unavailable — showing source text] Community Conservation Act of 1979 - Establishes the National Bank for Community Conservation. Declares that such Bank shall not be an agency of the United States Government. States that the purpose of such Bank shall be to provide financial assistance in the form of subsidized and unsubsidized loans, repurchase agreements, and grants to local governments for the improvement and conservation of existing physical facilities including, but not limited to, bridges, roadways, and sewage disposal systems. Stipulates that the Bank shall have a 15-member Board of Directors appointed by the President from the Board of Governors of the Federal Reserve System, heads of executive departments and agencies, the public, and representatives of State county and city governments. Directs the Board to be responsible for the management of the bank and empowers it to review and approve all financial assistance and loan purchase decisions. Stipulates that the management of the bank, subject to the policies prescribed by the Board, shall be vested in the president who shall be appointed by the President with the advice and consent of the Senate. Directs the President to appoint an advisory committee of …