; and (3) any amounts earned on investments of the Fund pursuant to subsection (d). (c) Uses Amounts in the Fund shall be available to the Secretary only for the following purposes: (1) Contract payments For payments to purchasers covered under contracts for reinsurance coverage for eligible losses under such contracts. (2) Administrative expenses To pay for the administrative expenses incurred by the Secretary in carrying out the reinsurance program under this title. (3) Outwards reinsurance To obtain retrocessional or other reinsurance coverage of any kind to cover risk reinsured under contracts for reinsurance coverage made available under this title. (d) Investment The Secretary shall invest such amounts in the Fund as the Secretary considers advisable in obligations issued or guaranteed by the United States. For purposes of the grant mandate in section 401(e) for a fiscal year, the Secretary shall disclose the annual net investment income available not later than 60 days after the conclusion of such fiscal year and disperse appropriate funds not later than 90 days after the conclusion of such fiscal year. 306. Consideration of rebuilding Nothing in this title may be construed to prevent counties, municipalities, and other localities from undertaking land and environmental assessments to determine the efficacy of rebuilding. 307. Regulations The Secretary shall issue any regulations necessary to carry out the program for reinsurance coverage under this title. IV Mitigation grant program 401. Mitigation grant program (a) Establishment The Secretary of Housing and Urban Development shall establish and carry out a program to provide grants to eligible entities to develop, enhance, or maintain programs to prevent and mitigate losses from natural catastrophes. (b) Grants A grant provided under subsection (a) shall be used to reduce loss of life and property by— (1) encouraging awareness of risk factors and what steps can be taken to eliminate or reduce them, including public education campaigns to promote citizen