Page:United States Statutes at Large Volume 106 Part 4.djvu/931

 PUBLIC LAW 102-549—OCT. 28, 1992 106 STAT. 3667 "(b) DEPOSITS. — Local currencies deposited in an Americas Fund shall not be considered assistance for purposes of any provision of law limiting assistance to a country. "(c) INVESTMENT. — Deposits made in an Americas Fund shall be invested until disbursed. Any return on such investment may be retained by the Americas Fund, without deposit in the Treasury of the United States and without further appropriation by the Congress. disbursed only pursuant to an Americas Framework Agreement. '«EC. 708. AMERICAS FRAMEWORK AGREEMENTS. 22 USC 2430g. "(a) AUTHORITY. —The Secretary of State is authorized, in consultation with other appropriate Government officials, to enter into an Americas Framework Agreement with any eligible country concerning the operation and use of the Americas Fund for that country. In the negotiation of such Agreements, the Secretary shall consult with the Enterprise for the Americas Board in accordance with section 709. Agreement with an eligible country shall— "(1) require that countiy to establish an Americas Fund; "(2) require that country to make interest payments under section 706(b)(l) into an Americas Fund; "(3) require that country to make prompt disbursements from the Americas Fund to the administering body described in subsection (c); "(4) when appropriate, seek to maintain the value of the local currency resources of the Americas Fund in terms of United States dollars; "(5) specify, in accordance with subsection (d), the purposes for which amounts in an Americas Fund may be used; and "(6) contain reasonable provisions for the enforcement of the terms of the agreement. "(1) IN GENERAL. —Funds disbursed from the Americtui Fund in each beneficiary country shall be administered by a body constituted under the laws of that country. "(2) COMPOSITION.— The administering body shall consist of— "(A) one or more individuals appointed by the United States Government, "(B) one or more individuals appointed by the government of the beneficiary country, and "(C) individuals who represent a broad range of— "(i) environmental nongovernmental organizations of the beneficiary country, "(ii) child survival and child development nongovernmental organizations of the beneficiary country, "(iii) local community development nongovernmental organizations of the beneficiary country, and "(iv) scientific or academic organizations or institutions of the beneficiary country. A mcgority of the members of the administering body shall be individuals described in subparagraph (C). "(3) RESPONSIBILITIES. —The administering body—
 * (d) DISBURSEMENTS. —Funds in an Americas Fund shall be
 * (b) CONTENTS OF AGREEMENTS.— An Americas Framework
 * (c) ADMINISTERING BODY. —

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