Page:United States Statutes at Large Volume 106 Part 1.djvu/176

 106 STAT. 144 PUBLIC LAW 102-281—MAY 13, 1992 ance with subsection (b)(3)) may be sold by the Secretary at the market price, and such special obligations may be redeemed at par plus accrued interest. (d) INTEREST.—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 fmid. (e) AVAILABILTTY OF FUND. — (1) STIPENDS. —The fund shall be available to the Foundation for payment of stipends awarded under section 425. (2) EXPENSES. —The Secretary of the Treasury is authorized to pay to the Foundation from the interest and earnings of the funds such siuns as the Board determines are necessary and appropriate to enable the Foundation to cany out the provisions of this subtitle. (f) DISBURSEMENTS.—Disbursements from the fund shall be made on vouchers approved by the Foundation and signed by the Chairman. 20 USC 5706. SEC. 427. AUDITS. The activities of the Foundation under this subtitle may be audited by the Comptroller General of the United States. The Comptroller General shall have access to all books, accounts, records, reports, and files and all other papers, things, or property belonging to or in use by the Foundation, pertaining to such activities and necessary to facilitate the audit. 20 USC 5707. SEC. 428. EXECUTIVE SECRETARY OF FOUNDATION. (a) DUTIES. — There shall be an Executive Secretary of the Foundation who shall be appointed by the Board. The Executive Secretary shall be the chief executive officer of the Foundation and shall carry out the functions of the Foundation subject to the supervision and direction of the Board. (b) COMPENSATION.—The Executive Secretary of the Foundation shall be compensated at an annual rate of basic pay not in excess of the amount payable for Executive Level V. 20 USC 5708. SEC. 429. ADMINISTRATIVE PROVISIONS. (a) The Foundation may— (1) appoint and fuc the compensation of such personnel as may be necessary to carry out the provisions of this subtitle, except that in no case shall employees (other than the Executive Secretary) be compensated at a rate in excess of the rate of basic pay payable for GS-15 of the General Schedule; (2) procure temporary and intermittent services of such experts and consultants as are necessary to the extent authorized by section 3109 of title 5, but at rates not in excess of the rate of basic pay payable for Executive Level V; (3) prescribe such regulations as the Foundation may determine to be necessary governing the manner in which its functions shall be carried, out; (4) receive money and other property donated, bequeathed, or devised, without condition or restriction other than it be used for the purposes of the Foundation; and to use, sell, or otherwise dispose of such property for the purpose of carrying out its functions; (5) accept and utilize the services of volimtary and uncompensated personnel and reimbiu*se them for travel expenses, includ-

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