20 U.S. Code § 5607a - Environmental Dispute Resolution Fund
The Foundation shall expend from the Fund such sums as the Board determines are necessary to establish and operate the Institute, including such amounts as are necessary for salaries, administration, the provision of mediation and other services, and such other expenses as the Board determines are necessary, including not to exceed $1,000 annually for official reception and representation expenses.
(c) Distinction from Trust Fund
The Fund shall be maintained separately from the Trust Fund established under section 5606 of this title.
(d) Investment of amounts
(1) In general
The Secretary of the Treasury shall invest such portion of the Fund as is not, in the judgment of the Secretary, required to meet current withdrawals.
(2) Interest-bearing obligations
Investments may be made only in interest-bearing obligations of the United States.
(3) Acquisition of obligations
For the purpose of investments under paragraph (1), obligations may be acquired—
(4) Sale of obligations
Any obligation acquired by the Fund may be sold by the Secretary of the Treasury at the market price.
Source(Pub. L. 102–259, § 10, as added Pub. L. 105–156, § 6(b),Feb. 11, 1998, 112 Stat. 10; amended Pub. L. 105–277, div. A, § 101(h) [title V, § 517(c)], Oct. 21, 1998, 112 Stat. 2681–480, 2681–512.)
A prior section 10 ofPub. L. 102–259was renumbered section 12 and is classified to section 5608 of this title.
1998—Subsec. (b). Pub. L. 105–277inserted before period at end “, including not to exceed $1,000 annually for official reception and representation expenses”.
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