Sec. 701. authority to prescribe rules and accept gifts
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## Sec. 701 authority to prescribe rules and accept gifts ###
(a)####
(1)The President may prescribe such rules and regulations as may be necessary and proper to carry out any of the provisions of this Act, and he may exercise any power or authority conferred on him by any section of this Act either directly or through such Federal agency or agencies as he may designate. ####
(2)Deadline for payment of assistance Rules and regulations authorized by paragraph
(1)shall provide that payment of any assistance under this Act to a State shall be completed within 60 days after the date of approval of such assistance. ###
(b)In furtherance of the purposes of this Act, the President or his delegate may accept and use bequests, gifts, or donations of service, money, or property, real, personal, or mixed, tangible, or intangible. All sums received under this subsection shall be deposited in a separate fund on the books of the Treasury and shall be available for expenditure upon the certification of the President or his delegate. At the request of the President or his delegate, the Secretary of the Treasury may invest and reinvest excess monies in the fund. Such investments shall be in public debt securities with maturities suitable for the needs of the fund and shall bear interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities. The interest on such investments shall be credited to, and form a part of, the fund. **[**[42 U.S.C. 5201](/us/usc/t42/s5201)**]**
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Sec. 701
authority to prescribe rules and accept gifts
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