§ 5606. — Establishment of Morris K. Udall Scholarship and Excellence in National Environmental Policy 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: 20USC5606]
TITLE 20--EDUCATION
CHAPTER 66--MORRIS K. UDALL SCHOLARSHIP AND EXCELLENCE IN NATIONAL
ENVIRONMENTAL POLICY FOUNDATION
Sec. 5606. Establishment of Morris K. Udall Scholarship and
Excellence in National Environmental Policy Trust Fund
(a) Establishment of Trust Fund
There is established in the Treasury of the United States a trust
fund to be known as the ``Morris K. Udall Scholarship and Excellence in
National Environmental Policy Trust Fund'' to be administered by a
Foundation. The Trust Fund shall consist of amounts appropriated to it
pursuant to section 5609(a) of this title and amounts credited to it
under subsection (b) of this section.
(b) Investment of Trust Fund assets
(1) \1\ In general.--It shall be the duty of the Secretary of the
Treasury to invest, at the direction of the Foundation Board, in full
the amounts appropriated to the Trust Fund. Such investments shall be in
public debt securities with maturities suitable to the needs of the
Trust Fund. Investments in public debt securities shall bear interest
``at rates determined by the Secretary of the Treasury taking into
consideration the current average market yield on outstanding marketable
obligations of the United States'' of comparable maturity.
---------------------------------------------------------------------------
\1\ So in original. No par. (2) has been enacted.
---------------------------------------------------------------------------
(Pub. L. 102-259, Sec. 8, Mar. 19, 1992, 106 Stat. 82; Pub. L. 105-156,
Sec. 9, Feb. 11, 1998, 112 Stat. 12.)
Amendments
1998--Subsec. (a). Pub. L. 105-156, Sec. 9(a), substituted ``The
Trust Fund'' for ``The fund'' and ``5609(a)'' for ``5609''.
Subsec. (b). Pub. L. 105-156, Sec. 9(b), substituted ``Trust Fund''
for ``Fund'' in two places.
Section Referred to in Other Sections
This section is referred to in sections 5602, 5607a of this title.
