Page:United States Statutes at Large Volume 61 Part 4.djvu/530

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [61 STAT. I a al II 3878 work and activities to be undertaken by the representatives of both Governments in the execution of this agreement. The projects and the allocation of the funds of the S.C.P.N .E. shall be agreed upon by the Minister of Public Education for the Republic of Peru and by the Representative in Perd of the Inter-American Educational Founda- tion, Inc. for the Foundation. PaymentsbyFoun- 6. The Foundation shall pay the salaries and expenses of the mem- bers of the group as well as the other administrative expenses of the Foundation in a total amount which shall not exceed One Hundred and Thirty Thousand Three Hundred ($130,300.00) Dollars and shall, in addition, grant to the S.C.P .N.E. the total sum of Forty-one Thousand Seven Hundred ($41,700.00) Dollars, as follows: No later than June 4, 1944, the sum of $13,900.00 No later than April 3, 1945, the sum of $13,900.00 No later than April 3, 1946, the sum of $13,900.00 Peruvian contribn- 7. The Government of Peru shall contribute to the S.C .P .N .E. the sum of Eighty-six Thousand ($86,000.00) Dollars or the equivalent in Peruvian Soles calculated on the basis of a rate of exchange of 6.485 Soles per U. S. Dollar, namely, the sum of Five Hundred and Fifty-seven Thousand Seven Hundred and Ten (S/.557,710.00) Peruvian Soles, as follows: No later than June 4, 1944, the sum of $28,666.68 or S/.185 ,903.34 No later than April 3, 1945, the sum of $28,666.66 or S/.185 ,903.33 No later than April 3, 1946, the sum of $28,666.66 or S/.185 ,903.33 It is understood that the salary which is received by the professor who is in charge of organizing and supervising the teaching of English in Perd may be deducted from the contribution which the Government of Perd shall make available in conformity with this agreement. Fndts in special The funds of the S.C .P.N.E. shall be deposited in a special account in the name of the S.C.P.N .E. and shall be disbursed by the Director of the S.C .P .N .E. only upon projects having the mutual approval of the Minister of Public Education and the Representative in Perl of the Inter-American Educational Foundation, Inc. Office space, etc. The Government of Perd will also furnish such office space, office equipment and furnishings, and supplies and materials as may be necessary and, within the facilities available to it, will construct such buildings as the execution of the cooperative educational program may require. Withholding of 8. In view of the fact that many purchases of materials and supplies mounts for purchases U nU.. must necessarily be made in the United States of America and paid for in Dollars, the Minister of Public Education and the Representa- tive in Perd of the Inter-American Educational Foundation, Inc. may agree to withhold from the deposits to be made by the Foundation, as hereinabove provided, an amount established to be necessary to pay for the same. Any funds so withheld by the Foundation for such purposes and not expended on or obligated for materials or supplies for the S.C.P .N .E. shall be deposited to the account of the S.C .P .N .E. Interest; unobli- 9. Interest, if any, earned on the deposits of the S.C.P.N .E. shall be credited to the said Servicio. The parties hereto shall determine ga

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