Page:United States Statutes at Large Volume 59 Part 1.djvu/547

 59 STAT.] 79TH CONG. , IST SESS.-CHS. 341, 342 -JULY 31, 1945 amount of such obligations outstanding at any one time shall not exceed two and one-half times the authorized capital stock of the Bank. Such obligations shall be redeemable at the option of the Bank before maturity in such manner as may be stipulated in such obligations and shall have such maturity and bear such rate of interest as may be determined by the Board of Directors of the Bank with the approval of the Secretary of the Treasury. The Secretary of the Treasury is hereby authorized and directed to purchase any obligations of the Bank issued hereunder and for such purpose the Secretary of the Treasury is authorized to use as a public-debt trans- action the proceeds of any securities hereafter issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under that Act are extended to include such purpose. Payment under this section of the purchase price of such obligations of the Bank and repayments thereof by the Bank shall be treated as public-debt transactions of the United States. SEC. 7. The Export-Import Bank of Washington shall not have out- standing at any one time loans and guaranties in an aggregate amount in excess of three and one-half times the authorized capital stock of the Bank. SEC. 8. The provisions of the existing charter of the Bank relating to the term of its existence, to the management of its affairs, and to its capital stock are superseded by the provisions of this Act and the Bank shall be exempt from compliance with any provisions of law relating to the amendment of certificates of incorporation or to the retirement or increase of stock of District of Columbia corpora- tions and from the payment of any fee or tax to the Recorder of Deeds of the District of Columbia determined upon the value or amount of capital stock of the Bank or any increase thereof. SEC. 9. The Export-Import Bank of Washington shall transmit to the Congress semiannually a complete and detailed report of its operations. The report shall be as of the close of business on June 30 and December 31 of each year. SEC. 10. Section 9 of the Act of January 31, 1935 (49 Stat. 4, ch. 2), as amended, is repealed. SEC. 11. Notwithstanding the provisions of the Act of April 13, 1934 (48 Stat., ch. 112, p. 574), any person, including any individual, partnership, corporation, or association, may act for or participate with the Export-Import Bank of Washington in any operation or transaction, or may acquire any obligation issued in connection with any operation or transaction, engaged in by the Bank. Approved July 31, 1945. [CHAPTER 342] [CHAPTER 3] JOINT RESOLUTION Providing for membership of the United States in the Food and Agriculture Organization of the United Nations. Resolved by the Senate and House of Representatives of the United States of America in Congressassembled, That the President is hereby authorized to accept membership for the United States in the Food and Agriculture Organization of the United Nations (hereinafter referred to as the "Organization") the Constitution of which is set forth in appendix I of the First Report to the Governments of the United Nations by the Interim Commission on Food and Agriculture, dated August 1,1944. SEC. 2. There is hereby authorized to be appropriated, out of any money in the Treasury not otherwise appropriated, a sum not exceeding $625,000 during the first fiscal year of the Organization and sums 66347°1-46 -P- -. x---34 529 Purchase of obliga- tions by Treasury. 40 Stat. 288 . 31 U. 8. C. § 774(2); Supp. IV, §754a d seq. Ante, pp. 47, 48, 59. Limitation on out- standing loans and guarantees. Term of existence of Bank, etc. Exemption. Semiannual reports to Congress. Repeal. 15U.S.C.i713b; Supp. IV, I 713b. 31 U. S.C.C 8045. July 31, 1945 [i. J. Res. 1451 [Public Law 174] "Orpganration. Appropriations tX- thorid.p . Pbd, p. MSL

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