Sec. 7. payments; interest

220 words·~1 min read·/statute-compilations/comps-775/sec-7

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## Sec. 7 payments; interest ###

(a)Notwithstanding any other provision of law, the Secretary of the Interior shall not, in disbursing funds provided under this Act, use any method of payment which was not used during fiscal year 1987 in the disbursement of funds provided under this Act. ###

(b)####

(1)#####

(A)Notwithstanding any provision of law other than subparagraph (B), any interest or investment income that accrues on any funds provided under this Act after such funds are paid to Dine´ College and before such funds are expended for the purpose for which such funds were provided under this Act shall be the property of Dine´ College and shall not be taken into account by any officer or employee of the Federal Government in determining whether to provide assistance, or the amount of assistance, to Dine´ College under any provision of Federal law. #####

(B)All interest or investment income described in subparagraph

(A)shall be expended by Dine´ College by no later than the close of the fiscal year succeeding the fiscal year in which such interest or investment income accrues. ####

(2)Funds provided under this Act may only be invested by Dine´ College in obligations of the United States or in obligations or securities that are guaranteed or insured by the United States.