Page:United States Statutes at Large Volume 70.djvu/615

 70 S T A T. ]

PUBLIC LAW 726-JULY 18, 1956

559

(4) Amend subparagraph (F) to read as follows: " (F) the President is authorized to issue guaranties up to a ml^i°^mt°ei! total face value of $500,000,000 exclusive of informational media guaranties heretofore and hereafter issued pursuant to section 1011 of the xict of January 27, 1948, as amended (22 U.S.C. 1442), and section 111(b)(3) of the Economic Cooperation Act ^o"'' P- ^63. of 1948, as amended (22 U.S.C. 1509 (b)(3)): Provided, That sta?. fet ''*^' ® any funds allocated to a guaranty and remaining after all liability of the United States assumed in connection therewith has been released, discharged, or otherwise terminated, and funds realized after June 30, 1955, from the sale of currencies or other assets acquired pursuant to subparagraph (C), shall be available for allocation to other guaranties, and the foregoing limitation shall be increased to the extent that such funds become available. Any payments made to discharge liabilities under guaranties issued under this paragraph shall be paid out of fees collected under subparagraph (E) as long as such fees are available, and thereafter shall be paid out of funds realized from the sale of currencies or other assets acquired pursuant to subparagraph (C) and notes which have been issued under authority of paragraph 111 (c)(2) of the Economic Cooperation Act of 1948, as amended, and authorized to be issued under this paragraph by the Director of the International Cooperation Administration, when necessary to discharge liabilities under any such guaranty: Provided, That all guaranties issued after June 30, 1956, pursuant to this paragraph shall be considered for the purposes of sections 3679 (31 V. S. C. 665) and 3732 (41 U.S.C. 11) of the Revised Statutes, as amended, as obligations only to the extent of the probable ultimate net cost to the United States of such guaranties; and the President shall, in the submission to the Congress of the reports required by section 534 of this Act, include information on the Stat. IM.' **°' ^^ operation of this paragraph: Provided further, That at all 22 USC 1794. times funds shall be allocated to all outstanding guaranties issued prior to July 1, 1956, exclusive of informational media guaranties issued pursuant to section 1011 of the Act of January 27, 1948, as amended (22 U.S.C. 1442), and section 111(b)(3) of the Economic Cooperation Act of 1948, as amended, equal to the sum of the face value of said guaranties. For the purpose of this paragraph the Director of the International Cooperation Administration is authorized to issue notes (in addition to the notes heretofore issued pursuant to paragraph 111 (c)(2) of the Economic Cooperation Act of 1948, as amended) in an amount ^2 Stat. i46. not to exceed $37,500,000, and on the same terms and conditions applicable to notes issued pursuant to said paragraph 111 (c)(2); ". (1) Amend section 415, which relates to assistance to international J^nte'national ^ '..

j«n

organizations.

organization, as follows: (1) Change "ORGANIZATION" in the title to "ORGANIZATIONS". (2) After "the North Atlantic Treaty Organization'', insert "and the Organization for European Economic Cooperation". (m) Repeal section 418, which relates to President's Fund for Asian Economic Development. (n) Add the following new section: " SEC. 421. FOOD AND AGRICULTURE ORGANIZATION.—Public

68 Stat. 849. " "^^ ^^^^• fg^slfti 287. 22 USC 1938.

Law

174, Seventy-ninth Congress, as amended by section 1(b) of Public Law 806, Eighty-first Congress, is hereby further amended by striking stat lolu* ^^^' ^^ out the figure '$2,000,000' in section 2 thereof and inserting in lieu " use 279a. thereof the figure '$3,000,000', and by inserting before the period at the end of such section a colon and the following: Provided, That the

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