§ 284e. — Payment of subscription to Association by United States.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC284e]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XIII--INTERNATIONAL DEVELOPMENT ASSOCIATION
Sec. 284e. Payment of subscription to Association by United
States
(a) Authorization of appropriations for subscription
There is hereby authorized to be appropriated, without fiscal year
limitation, for the subscription of the United States to the
Association, $320,290,000.
(b) Increase in Association resources; contribution; authorization of
appropriations
The United States Governor is hereby authorized (1) to vote for an
increase in the resources of the Association and (2) to agree on behalf
of the United States to contribute to the Association the sum of $312
million, both as recommended by the Executive Directors, in a report
dated September 9, 1963, to the Board of Governors of the Association.
There is hereby authorized to be appropriated out of funds supplied by
the Nation's taxpayers or out of funds borrowed on their credit, without
fiscal year limitations, $312 million to provide the United States share
of the increase in the resources of the Association.
(c) Issuance of special notes
For the purpose of keeping to a minimum the cost to the United
States of participation in the Association, the Secretary of the
Treasury is authorized and directed to issue special notes of the United
States from time to time, at par, and to deliver such notes to the
Association in exchange for dollars to the extent permitted by the
articles. The special notes provided for in this subsection shall be
issued under the authority and subject to the provisions of chapter 31
of title 31, and the purposes for which securities may be issued under
that chapter are extended to include the purposes for which special
notes are authorized and directed to be issued under this subsection,
but such notes shall bear no interest, shall be nonnegotiable, and shall
be payable on demand of the Association. The face amount of special
notes issued to the Association under the authority of this subsection
and outstanding at any one time shall not exceed, in the aggregate, the
amount actually paid to the Association under the articles.
(d) Income covered into Treasury
Any payment made to the United States by the Association as a
distribution of net income shall be covered into the Treasury as a
miscellaneous receipt.
(Pub. L. 86-565, Sec. 7, June 30, 1960, 74 Stat. 294; Pub. L. 88-310,
Secs. 1, 2, May 26, 1964, 78 Stat. 200.)
Codification
In subsec. (c), ``chapter 31 of title 31'' and ``that chapter''
substituted for ``the Second Liberty Bond Act, as amended'' and ``that
Act'', respectively, on authority of Pub. L. 97-258, Sec. 4(b), Sept.
13, 1982, 96 Stat. 1067, the first section of which enacted Title 31,
Money and Finance.
Amendments
1964--Subsecs. (b) to (d). Pub. L. 88-310 added subsec. (b),
redesignated former subsec. (b) as (c) and struck out ``, after paying
the requisite part of the subscription of the United States in the
Association required to be made under the articles.'' after ``Secretary
of the Treasury'' in first sentence and ``of the subscription of the
United States'' after ``amount'' in third sentence, respectively, and
redesignated former subsec. (c) as (d).
