Page:United States Statutes at Large Volume 61 Part 3.djvu/599

 61 STAT.] COLOMBIA-HEALTH AND SANITATION Jan. 24, Feb. 12, 1944 Feb. 14, 19, 1946 (5) For the purpose of continuing the cooperative health and sanita- tion program in Colombia, it is proposed for consideration by Your Excellency that the Institute deposit in the Banco de la Republica in Bogota (or in such other bank as may be mutually agreed upon by the Minister and the Chief of Field Party) to the account of the Servicio Cooperativo Interamericano de Salud Pfiblica the said sum of one hundred twenty thousand dollars (US$120,000.) on the following basis: During July, 1946 US$60,000. During January, 1947 US$60,000. and that the Government of Colombia deposit to the account of the Servicio Cooperativo Interamericano de Salud Pdblica in the same bank, the sum of two million pesos (Col.$2,000,000.) (being the equivalent of US$1,142,840. at the present official rate of exchange), on the following basis: During July, 1946 Col.$ 500,000. During January, 1947 Col.$ 500,000. During July, 1947 Col.$ 500,000. During January, 1948 Col.$ 500,000. (6) Funds introduced into Colombia by the Institute for the purpose of the cooperative program shall be exempt from the taxes, service charges, investment or deposit requirements and other currency controls imposed upon the foreign exchange of private persons, and shall enjoy the most favorable government rate of exchange. (7) Materials and equipment or other property furnished by the Government of Colombia or by the Institute to the Servicio at the request of its Director shall be considered as a cash payment equal to the cost thereof (including shipping, handling, insurance and other incidentals) if purchased on the current market; but if not so pur- chased, it shall be treated as a cash payment in an amount agreed on in writing by the Minister and Chief of Party. Interest, if any, earned on deposits of Servicio funds shall not be credited against the obligations of the parties, but shall be added to Servicio funds. (8) The funds deposited by either party to the credit of the Servicio for any particular period shall not be drawn against until the cor- responding deposit of the other party, if required by paragraph (5), shall have been made; and if not made within sixty (60) days there- after, the first-mentioned deposit shall be returned to the contributor upon the sole signature of its representative. (9) All funds deposited, under the original agreement and its exten- sions, to the credit of the Servicio in the designated bank and not spent during the period or fiscal year in which deposited, shall con- tinue to be available for the purposes of this program during the existence of this agreement and shall not revert to the Governments of the United States of America or of Colombia. The Minister and the Chief of Field Party in Colombia shall determine by mutual agreement the disposition and administration of the funds and other property remaining to the Servicio on the termination of this agree- ment, June 30, 1948. 2887 Deposit of funds. Exemption of funds from currency con- trols. Consideration of materials, etc., as cash payment. Intermst on duIp).sts. Withdrawals. Return of deposit. Nonreversion of funds. Disposition of re- maining funds, etc.

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