Page:United States Statutes at Large Volume 61 Part 1.djvu/571

 61 STAT.] 80TH CONG., 1ST SESS.-CH. 356-JULY 30,1947 such acts and things as shall be necessary to effect the valid transfer and assignment to the Secretary of the Treasury of all such obligations, and to execute such trust instruments as shall be agreed upon by the Administrator and the Secretary of the Treasury providing for the holding in trust by the Administrator of all such obligations for the Secretary of the Treasury as security for loans to the Adminis- trator heretofore made by the Reconstruction Finance Corporation or made or to be made by the Secretary of the Treasury. All rights, interests, obligations, and duties of the Reconstruction Finance Corporation arising out of loans made or authorized to be made to the Administrator are, as of the close of June 30, 1947, vested in the Secretary of the Treasury; the Reconstruction Finance Corpora- tion is authorized and directed to transfer, as of the close of June 30, 1947, to the Secretary of the Treasury and the Secretary of the Treasury is authorized and directed to receive all loans outstanding on that date, plus accrued unpaid interest, theretofore made to the Administrator under the provisions of this Act, and all notes and other evidences there of and all obligations constituting the security therefor. The Secretary of the Treasury shall cancel notes of the Reconstruction Finance Corporation, and sums due and unpaid upon or in connection with such notes at the time of such cancellation, in an amount equal to the unpaid principal of the loans so transferred, plus accrued unpaid interest through June 30, 1947. Subsequent to June 30, 1947, the Reconstruction Finance Corporation shall make no further loans or advances to the Administrator; and the Secretary of the Treasury is hereby authorized and directed, in lieu of the Reconstruction Finance Corporation, to lend or advance to the Administrator, in accordance with the provisions of this subsection 3 (a), any unobligated or unadvanced balances of the sums which the Reconstruction Finance Corporation has theretofore been authorized and directed to lend to the Administrator. For the pur- pose of making loans or advances pursuant to this section, the Secre- tary of the Treasury is authorized to use as a public-debt transaction the proceeds from the sale of any securities 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 loans or advances to the Administrator. Repayments to the Secretary of the Treasury on such loans or advances shall be treated as a pu)lic- debt transaction of the United States. "SEC. 3 . (f) All money representing payments of principal and interest on loans made by the Administrator shall be paid to the Secretary of the Treasury in payment of loans made to the Adminis- trator by the Reconstruction Finance Corporation or the Secretary of the Treasury; upon the payment of such loans all moneys represent- ing payments of principal and interest on loans made by the Adminis- trator shall be covered into the Treasury as miscellaneous receipts." FARM CREDIT ADMINISTRATION SALARIES AND EXPENSES For necessary expenses including personal services in the District of Columbia: printing and binding; not to exceed $5,000 for attendance at meetings or conventions of members of organizations at which matters of importance to the work of the Farm Credit Administration are to be discussed or transacted; not to exceed $750 for periodicals and newspapers library membership fees or dues in organizations which issue publications to members only or to members at a lower price than to others, payment for which may be made in advance, not to exceed $20,000 for expenditures authorized by section 602 of 547 Rights, etc., of RFC. Transfer of loans. Cancellation of notes. Loans, etc., subse- quent to June 30,1947. 40 Stat. 2a8. 31 U. S. (. j§774 (2). Paymlents of priinti- paland interest.

�