§ 5202. Eisenhower Exchange Fellowship Program Trust Fund
400 words·~2 min read·
/usc/title-20/section-5202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Establishment There is established in the Treasury of the United States a trust fund to be known as the Eisenhower Exchange Fellowship Program Trust Fund (hereinafter in this chapter referred to as the “fund”). The fund shall consist of amounts authorized to be appropriated under section 5204 of this title.
(b)Investment in interest-bearing obligations It shall be the duty of the Secretary of the Treasury to invest in full amounts appropriated to the fund. Such investments may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interests 1 by the United States. For such purpose, such obligations may be acquired
(1)on original issue at the issue price, or
(2)by purchase of outstanding obligations at the market price. The purposes for which obligations of the United States may be issued under chapter 31 of title 31, are hereby extended to authorize the issuance at par of special obligations exclusively to the fund. Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as to the end of the calendar month next preceding the date of such issue borne by all marketable interest-bearing obligations of the United States then forming a part of the public debt; except that where such average rate is not a multiple of one-eighth of 1 percent, the rate of interest of such special obligations shall be the multiple of one-eighth of 1 percent next lower than such average rate. Such special obligations shall be issued only if the Secretary determines that the purchase of other interest-bearing obligations of the United States, or of obligations guaranteed as to both principal and interest by the United States or original issue or at the market price, is not in the public interest.
(c)Sale and redemption of obligations Any obligation acquired by the fund (except special obligations issued exclusively to the fund) may be sold by the Secretary of the Treasury at the market price, and such special obligations may be redeemed at par plus accrued interest.
(d)Credit to fund of interest and proceeds of sale or redemption The interest on, and the proceeds from the sale or redemption of, any obligations held in the fund shall be credited to and form a part of the fund.
(Pub. L. 101–454, § 3, Oct. 24, 1990, 104 Stat. 1063.)
Connections1 cite this · traces to 1
Cited by 1 section
Traces to 1 document
3 references not yet in our index
- 1
- Pub. L. 101–454, § 3
- 104 Stat. 1063
Citation graph
cites case law
§ 5202
Eisenhower Exchange Fellowship Program Trust Fund
Stat.×1
Cite1
Pub. L.Pub. L. 101–454, § 3
Stat.104 Stat. 1063
Cites 4Cited by 1 across 1 source