Page:United States Statutes at Large Volume 49 Part 1.djvu/745

 700 74TH CONGRESS. SESS. I. CH. 614. AUGUST 23, 1935. Corp Use of orafionroceeds by not to exceed $250,000,000 par value : Provided further, That the pro- ceeds derived from the purchase by the Secretary of the Treasury of any such obligations shall be used by the Corporation solely in carry- R esale of obligation s ing out its functions with respect to such insurance. The Secretary by Secretary of Treas- ury. of the Treasury may, at any time, sell any of the obligations of the Corporation acquired by him under this subsection. All redemp- tions, purchases, and sales by the Secretary of the Treasury of the obligations of the Cor poration shall be treated as public-debt transac- tions of the United States. Tax exemptions ; C or- a (p) All notes debentures, bonds, or other such obligations issued potation obligations, s > > by the Corporation shall be exempt, both as to principal and interest, from all taxation (except estate and inheritance taxes) now or here- after imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local Franchise, etc. taxing authority. The Corporation, including its franchise, its capital, reserves, and surplus, and its income, shall be exempt from all t axation now or hereaft er impos ed by t he Unite d State s, by an y Territory, dependency, or possession thereof, or by any State, county, mun icipa lity, or loca l tax ing autho rity , exc ept that any real prop erty of th e Corpo ration s hall be subject to Sta te, Terr itorial, county , municipal, or local taxation to the same extent according to its value as the other real property is taxed. Preparation of note, "(q) In order that the Corporation may be supplied with such debenture, etc., forms . forms of notes, debentures, bonds, or other such obligations as it may nee d for is suance under th is Act, the Sec retary of the Treasury is aut horized to prep are such forms as shall be sui table a nd appro ved by the Corporation, to be held in the Treasury subject to delivery, Cust ody of engrav ed upon order of the Corporation . The engraved plate, dies, bed pieces, plate, dies, etc. and other material executed in connection therewith shall remain in Rei mburs ement for expenses . the custody of the Secretary of the Treasury . The Corporation shall reimburse the Secretary of the Treasury for any expenses incurred in the preparation, custody, and delivery of such notes, debentures, bonds, or other such obligations . Ann ual r eport of Cor- " (r) The Corporation shall annually make a report of its opera- poration. tions to the Congress as soon as practicable after the 1st day of January in each year. Pe na lty provisions. "( s) Whoever, for the purpose of obtaining any loan from the Fal se statements . Corporation, or any extension or renewal thereof, or the acceptance, release, or substitution of security therefor, or for the purpose of inducing the Corporation to purchase any assets, or for the purpose of obtaining the payment of any insured deposit or transferred deposit or the allowance, approval, or payment of any claim, or for the purpose of influencing in any way the action of the Corporation of Wi llful over valua tion tinder this section, makes any statement, knowing it to be false, or securities . u ~, willfully overvalues any security, shall be punished by a fine of not more than $5,000, or by imprisonment for not more than two years or both . Counterf eiting obliga- " (t) Whoever (1) falsely makes forges, or counterfeits any obliga- tionsofCor porations f ~ Lion or coupon, in imitation of or purporting to be an obligation or coupon issued by the Corporation, or (2) passes, utters, or publishes, or attempts to pass, utter, or publish, any false, forged, or counter- feited obligation or coupon purporting to have been issued by the Corporation, knowing the same to be false, forged, or counterfeited, or (3) falsely alters any obligation or coupon issued or purporting to have been issued by the Corporation, or (4) passes, utters, or pub- lishes, or attempts to pass, utter, or publish, as true, any falsely altered or spurious obligation or coupon, issued or purporting to have been issued by the Corporation, knowing the same to be falsely altered or spurious, shall be punished by a fine of not more than $10,000, or by imprisonment for not more than five years, or both.