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22 U.S.C. § 283z–3Increase in authorized capital stock of Bank and increases in resources of Fund for Special Operations; United States share; authorization of appropriations

submitted 43 years ago by Pub. L. 86-147 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 244 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lets the U.S. Governor of the Bank vote for 1983 capital and fund increase resolutions. The U.S. may subscribe to over 427,000 new shares and give $350 million to the Fund. Congress authorizes about $5.5 billion to pay for both.

(a) The U.S. Governor of the Bank may vote for resolutions proposed by the Governors at a special February 1983 meeting and pending before the Board of Governors. They provide for (i) increasing the Bank's authorized capital stock and subscriptions to it, and (ii) increasing the Fund for Special Operations' resources and contributions. If adopted, the Governor may agree, for the United States, to subscribe to 427,396 shares of the increased capital stock and contribute $350,000,000 to the Fund. Any commitment to the capital subscriptions and Fund contributions only counts to the extent Congress provides the money in advance through appropriations laws. (b) To pay for this subscription and contribution, Congress authorizes, with no fiscal-year limit, $5,155,862,744 for the U.S. capital stock subscription, and $350,000,000 for the U.S. share of the Fund increase.
the actual law source: uscode.house.gov ↗public domain
(a)
(1)

The United States Governor of the Bank is authorized to vote for resolutions—

(A)

which were proposed by the Governors at a special meeting in February 1983;

(B)

which are pending before the Board of Governors of the Bank; and

(C)

which provide for—

(i)

an increase in the authorized capital stock of the Bank and subscriptions thereto; and

(ii)

an increase in the resources of the Fund for Special Operations and contributions thereto.

(2)
(A)

Upon adoption of the resolutions specified in paragraph (1), the United States Governor of the Bank is authorized on behalf of the United States to—

(i)

subscribe to 427,396 shares of the increase in the authorized capital stock of the Bank; and

(ii)

contribute $350,000,000 to the Fund for Special Operations.

(B)

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)

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—

(1)

$5,155,862,744 for the United States subscriptions to the capital stock of the Bank; and

(2)

$350,000,000 for the United States share of the increase in the resources of the Fund for Special Operations.

Source credit: (Pub. L. 86–147, § 31, as added Pub. L. 98–181, title I [title X, § 1001], Nov. 30, 1983, 97 Stat. 1284.)

history & why it existsrecord from the source credit
  • 1983Enacted · Pub. L. 86-147 · 97 Stat. 1284

A history note hasn’t been published yet. The record shows enactment by Pub. L. 86-147 on 1983-11-30.

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