Page:United States Statutes at Large Volume 61 Part 3.djvu/379

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [61 STAT. said contribution of Two Hundred Thousand Colones (¢200,000) shall be in addition to the Republic's regular budget for education. Within sixty days after the becoming effective of this Agreement, under the laws of El Salvador, the Foundation shall pay into the said special bank account the sum of Ten Thousand Dollars ($10,000), U. S. currency, and the Republic shall pay into the said special bank ac- count the sum of Sixty-Five Thousand Colones (065,000), Salvado- rean currency, as the first installment from each Government for the Disbursements. said Cooperative Educational Program. The funds in the said spe- cial bank account shall be disbursed by the Foundation and devoted exclusively to the Projects of the said Cooperative Educational Pro- gram as provided herein, and all Contracts necessary to carry out the terms of the Projects mutually agreed to by the representatives of the two Governments shall be in the name of the Foundation. If the Republic desires and so notifies the Foundation in writing, checks for the expenditure of funds in the said special bank account shall be countersigned by a representative of the Republic. The books and records of the Foundation relating to the expenditures for the said Cooperative Educational Program shall be open at all times for in- Reports. spection by representatives of the Republic, and the Foundation shall render financial reports to the Republic at such times as may be agreed upon between the Ministro and the Special Representative of the Foundation. 5. The Republic, in addition to its cash contribution as provided aeditioyepubicst herein, shall (a) appoint specialists to collaborate with the Field Staff of the Foundation and pay their compensation; (b) make available office space, office equipment, furnishings, transportation and such other of its facilities, material, equipment and supplies as it may con- veniently provide for the said program, and (c) lend the general assistance thereto of the other Departments of the Republic. Wituhholding o 6. In view of the fact that purchases of some materials and supplies must necessarily be made in the United States of America, the Ministro and the Special Representative of the Foundation may agree to with- hold from the payments to be made by the Foundation into the said special bank account as provided herein, an amount or amounts deemed to be necessary to pay for such purchases of materials and supplies in the United States of America. Any funds so withheld by the Foundation for such purchases and not obligated therefor shall be paid into the said special bank account at any time upon the mutual agreement of the Ministro and the Special Representative of the Foundation. Availability of 7. The funds paid and payable into the said special bank account by the parties hereto shall continue to be available for the said Co- operative Educational Program during the existence of this Agreement. Interest, if any, on any balances of funds in the said special bank account shall be used for the said Cooperative Educational Program. oblDWfid un- The Ministro and the Special Representative of the Foundation shall determine by mutual agreement the disposition of any unobligated funds remaining in the said special bank account upon the termination of this'Agreement. In the event that, upon the expiration of each 2664

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