Page:United States Statutes at Large Volume 62 Part 3.djvu/1392

 62 STAT.] GUATEMALA-COOPERATIVE EDUCATION-- Ot. 23, 1945 May 6, 1947 payments to be made by the Foundation, into the said special bank account, as provided herein, an amount 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 expended or obligated therefor shall be deposited in the said special bank account at any time upon the mutual agree- ment of the Secretario de Estado en el Despacho de Educaci6n Publica and the Special Representative of the Foundation. 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. The Secretario de Estado en El Despacho de Educaci6n Pdblica 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 Agree- ment. In the event that, upon the expiration of each twelve-month period of this Agreement, the Foundation deems that the said funds which it has set aside for the payment of salaries and other expenses directly payable to members of the Field Staff, as provided in Para- graph 4 hereof, will be more than is needed for that purpose, the Foundation, at the end of each such twelve-month period, shall advise the Republic of the additional sum which has become avail- able for Projects and such additional sum shall be paid into the said special bank account or otherwise disposed of pursuant to this Agree- ment. At least six months prior to the termination of this Agree- ment the Foundation shall similarly notify the Republic as to what, if any, of such funds will be available for Projects of the said cooper- ative educational program during the remainder of the program, and the disposition of any such funds so made available shall be determined by mutual agreement between the Secretario de Estado en el Despacho de Educaci6n Pdblica and the Special Representative of the Foundation. 8. Any right, power, or duty conferred by this Agreement upon either the Secretario de Estado en el Despacho de Educaci6n Pdblica or the Special Representative of the Foundation may be delegated by the recipient thereof to representatives, provided that such repre- sentatives are satisfactory to the said official of the other Government. 9. This Agreement may be amended from time to time if deemed advisable by the parties hereto, such amendments to be in writing and signed by representatives of the Republic and the Foundation. 10. The Executive Power of the Republic will take the necessary steps to obtain the legislation, decrees, orders or resolutions necessary to carry out the terms of this Agreement. 11. This Agreement shall be in force for a period of three years from the date hereof. 4013 Dispositionoffunds. Interest on funds. Surplus administra- tive funds. Notification to Re- public of funds avail- able for Projects. Delegation of au- thority. Amendment. Cooperation by Ex- ecutive Power of Re- public. Duration.

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