22 U.S. Code § 283z–1 - Increase in authorized capital stock of Bank and increase in resources of Fund for Special Operations
(a) United States share
The United States Governor of the Bank is authorized to vote for two resolutions which were proposed by the Governors at a special meeting in December 1978 and are pending before the Board of Governors of the Bank. These resolutions provide for
(1) an increase in the authorized capital stock of the Bank and additional subscriptions thereto, and
(2) an increase in the resources of the Fund for Special Operations and contributions thereto. Upon adoption of these resolutions, the United States Governor is authorized on behalf of the United States
(A) to subscribe to two hundred twenty-seven thousand eight hundred and ninety-six shares of the increase in the authorized capital stock of the Bank, of which two hundred ten thousand eight hundred and four shall be callable and seventeen thousand and ninety-two shall be paid-in, and
(B) to contribute to the Fund for Special Operations $630,000,000; except that any commitment to make such subscriptions to paid-in and callable capital stock and to make such contributions to the Fund for Special Operations shall be effective only to such extent or in such amounts as are provided in advance in appropriation Acts.
(b) Authorization of appropriations
In order to pay for the increase in the United States subscription and contribution provided for in this section, there are authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury
(2) $630,000,000 for the United States share of the increase in the resources of the Fund for Special Operations: Provided, however, That for contributions to the Fund for Special Operations, not more than $175,000,000 may be made available for the fiscal year 1982, and not more than $105,000,000 may be made available for the fiscal year 1983.
(c) Funding requirements
For the purpose of keeping to a minimum the cost to the United States, the Secretary of the Treasury—
(1) shall pay the United States contribution to the Fund for Special Operations authorized by this section by letter of credit in four annual installments; and
Source(Pub. L. 86–147, § 29, as added Pub. L. 96–259, title I, § 101(2),June 3, 1980, 94 Stat. 429; amended Pub. L. 97–35, title XIII, § 1351(b),Aug. 13, 1981, 95 Stat. 744.)
1981—Subsec. (b). Pub. L. 97–35inserted provision limiting amount of appropriations available for Fund for Special Operations for fiscal years 1982 and 1983.
Effective Date of 1981 Amendment
LII has no control over and does not endorse any external Internet site that contains links to or references LII.