Page:United States Statutes at Large Volume 61 Part 3.djvu/609

 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 the Field Party in his capacity as repre- sentative of the Institute) to the account of the Servicio Cooperativo Inter-Americano de Salud Publica the said sum of $600,000 U.S. on the following basis: During July 1944 $300, 000 During July 1945 300, 000 and that the Government of Colombia deposit in the Banco de la Republica in Bogota to the account of the Servicio Cooperativo Inter-Americano de Salud Pdblica the sum of 1,050,000 pesos (being the equivalent of $600,000 U.S . at the present official rate of ex- change) on the following basis: During July 1944 350, 000 During July 1945 700, 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 in his capacity as representative of the Health and Sanitation Division of the Institute. 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 the Government of Colombia for any particular year or the funds deposited by the Institute for any par- ticular year to the credit of the Servicio in the designated bank, as provided in paragraph 5 hereof, are not to be drawn against by the Director of the Servicio until the funds for that year are deposited by both parties as agreed to herein. Funds paid over by either party and not matched by the other party within sixty days may be re- turned by the Servicio to the contributor. 9. All funds deposited, under this and the original agreement, to the f credit of the Servicio in the designated bank and not spent during the calender year or fiscal year in which deposited, shall continue 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 Chief of Field 2897 Deposit of funds. Exemption of funds from currency con- trols. Consideration of materials, etc., as cash payment. Interest on deposits. Withdrawals. Unmatched funds. Nonreversion of unds. Disposition of re naining unds, etc.

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