Page:United States Statutes at Large Volume 68 Part 1.djvu/182

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P U B L I C LAW 374-MAY 28, 1954

[68 S T A T -

ExroRT-lMi'ORT B A N K OF W A S H IX G TO N LIMITATION ON EXPENSES

60 Stat. 810.

•^

Not to exceed $1,070,000 (to be computed on an accrual basis) of the funds of the Export-Import Bank of Washington shall be available during the current fiscal year for all administrative expenses of the bank, including services as authorized by section 15 of the Act of August 2, 1946 (5 U.S.C. 55a): Provided, That necessary expenses (including special services performed on a contract or fee basis, but not including other personal services) in connection with the acquisition, operation, maintenance, improvement, or disposition of any real or personal property belonging to the bank or in which it has an interest including expenses of collections of pledged collateral, or the investigation or appraisal of any property in respect to which an application for a loan has been made, shall be considered as nonadministrative expenses for the purposes hereof. RECONSTRUCTION FINANCE CORPORATION

31 USC* Itgl

The Treasury Department is hereby authorized to make such expenditures, within the limits of funds and borrowing authority available to it from Reconstruction Finance Corporation activities, and in accord with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 °^ *^® Government Corporation Control Act, as amended, as may be necessary in carrying out the programs set forth in the budget for the fiscal year 1955 for each such activity, except as hereinafter provided: ADMINISTRATIVE EXPENSES or LIQUIDATING THE RECONSTRUCTION FINANCE CORPORATION

Not to exceed $3,500,000 (to be computed on an accrual basis) of the funds derived from Reconstruction Finance Corporation activities (except those conducted under Section 409 of the Federal Civil so^u s c^^a^* Defense Act of 1950), shall be available during the current fiscal year 22 61. Definition. Reserve banks: Provided, That as used herein the term "administrative expenses" shall be construed to include all salaries and wages, services performed on a contract or fee basis, and travel and other expenses, including the purchase of equipment and supplies, of administrative offices: Provided further, That the limiting amount heretofore stated for administrative expenses shall be increased by an amount which does not exceed the aggregate cost of salaries, wages, travel, and other expenses of persons employed outside the continental United States; the expenses of services performed on a contract or fee basis in connection with the termination of contracts or in the performance of legal services, and all administrative expenses reimbursable from other Government agencies: Provided further, That the distribution of administrative expenses to the accounts of the Corporation shall be made in accordance with generally recognized accounting principles and practices. Not to exceed $50,000 of the funds available pursuant to section 409 of the Federal Civil Defense Act of 1950 (50 T. S. C. App. 2261), shall be available during the current fiscal year for administrative expenses necessary to carry out the functions, powers, duties, and authority of the Treasury Department under said section.
 * for administrative expenses incident to the liquidation of said Corporation, including use of the services and facilities of the Federal

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