Sec. 332. O&C Trust management capitalization
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/bill/113/hr/4/eh/section-332A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Board of Trustees is authorized to borrow from any available private sources and non-Federal, public sources in order to provide for the costs of organization, administration, and management of the O&C Trust during the three-year transition period provided in section 331. Notwithstanding any other provision of law, O&C Trust counties are authorized to loan to the O&C Trust, and the Board of Trustees is authorized to borrow from willing O&C Trust counties, amounts held on account by such counties that are required to be expended in accordance with the Act of May 23,1908 (35 Stat. 260; 16 U.S.C. 500 ) and section 13 of the Act of March 1, 1911 (36 Stat. 963; 16 U.S.C. 500 ), except that, upon repayment by the O&C Trust, the obligation of such counties to expend the funds in accordance with such Acts shall continue to apply.
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