§ 817c. — Trust fund.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 2USC817c]
TITLE 2--THE CONGRESS
CHAPTER 19--CONGRESSIONAL AWARD PROGRAM
SUBCHAPTER II--CONGRESSIONAL RECOGNITION FOR EXCELLENCE IN ARTS
EDUCATION
Sec. 817c. Trust fund
(a) Establishment of fund
There shall be established in the Treasury of the United States a
trust fund which shall be known as the ``Congressional Recognition for
Excellence in Arts Education Awards Trust Fund''. The fund shall be
administered by the Board, and shall consist of amounts donated to the
Board under section 817(c) of this title and amounts credited to the
fund under subsection (d) of this section.
(b) Investment
(1) In general
It shall be the duty of the Secretary of the Treasury to invest,
at the direction of the Director of the Board, such portion of the
fund that is not, in the judgment of the Director of the Board,
required to meet the current needs of the fund.
(2) Authorized investments
Such investments shall be in public debt obligations with
maturities suitable to the needs of the fund, as determined by the
Director of the Board. Investments in public debt obligations shall
bear interest at rates determined by the Secretary of the Treasury
taking into consideration the current market yield on outstanding
marketable obligations of the United States of comparable maturity.
(c) Authority to sell obligations
Any obligation acquired by the fund may be sold by the Secretary of
the Treasury at the market price.
(d) Proceeds from certain transactions credited to fund
The interest on, and the proceeds from the sale or redemption of,
any obligations held in the fund shall be credited to and form a part of
the fund.
(Pub. L. 96-114, title II, Sec. 211, as added Pub. L. 106-533,
Sec. 1(a), Nov. 22, 2000, 114 Stat. 2552.)
Section Referred to in Other Sections
This section is referred to in section 817 of this title.
