22 U.S.C. § 285u — Additional contribution to special funds
submitted 46 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 225 words · no verdicts yet
The U.S. Governor of the Bank may promise $378,250,000 to the Asian Development Fund. Congress must approve this money, with limits for 1982 and 1983. The Treasury pays it in four yearly installments to control costs.
The United States Governor of the Bank is authorized to contribute on behalf of the United States $378,250,000 to the Asian Development Fund, a special fund of the Bank, except that any commitment to make such contribution shall be made subject to obtaining the necessary appropriations.
In order to pay for the United States contribution to the Asian Development Fund provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $378,250,000 for payment by the Secretary of the Treasury: Provided, however, That not more than $111,250,000 of such sum may be made available for the fiscal year 1982, and not more than $44,500,000 of such sum may be made available for the fiscal year 1983.
For the purpose of keeping to a minimum the cost to the United States, the Secretary of the Treasury—
shall pay the United States contribution to the Asian Development Fund authorized by this section by letter of credit in four annual installments; and
shall take the steps necessary to obtain a certification from the Bank that any undisbursed balances resulting from drawdowns on such letter of credit will not exceed at any time the United States share of expected disbursement requirements for the following three-month period.
Source credit: (Pub. L. 89–369, § 24, as added Pub. L. 96–259, title II, § 201, June 3, 1980, 94 Stat. 430; amended Pub. L. 97–35, title XIII, § 1352(b), Aug. 13, 1981, 95 Stat. 744.)
- 1980Enacted · Pub. L. 89-369 · 94 Stat. 430
- 1981Amended · Pub. L. 97-35 · 95 Stat. 744
A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1980-06-03.
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