Page:United States Statutes at Large Volume 72 Part 1.djvu/465

 72

STAT.]

423

PUBLIC LAW 85-561-JULY 28, 1958

the District of Columbia as may be necessary to insure the payment of such interest or the retirement of such bonds. In the event an appropriation has not been made by the time the amount becomes due and payable on account of interest on or retirement of the bonds, the Commissioners of the District of Columbia are authorized to borrow from the Secretary of the Treasury the amounts required, to bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on current marketable obligations of the United States of comparable maturities as of the last day of the month preceding the month in which the amount is borrowed. The Secretary of the Treasury is authorized and directed to lend to said Commissioners the amounts required hereunder and for such purposes the Secretary of the Treasury is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under the Second Liberty Bond Act, as amended, are extended to include any loans to said Commissioners hereunder. Amounts borrowed by said Commissioners from the Secretary of the Treasury pursuant to this section and the interest thereon shall be repaid promptly from the funds appropriated pursuant to authority in this section and from any other appropriation available for such purpose. Amounts appropriated for payment of interest on or retirement of bonds and amounts borrowed by the Commissioners for such purpose shall be advanced by the Commissioners to the Board and shall be placed by the Board in such sinking fund. All bonds and other securities issued by the Board under authority of this Act are hereby guaranteed as to both principal and interest by the United States.". (15) Section 10 of such Act is amended by striking out "the accuracy by the auditor of the District of Columbia," and inserting in lieu thereof "accuracy by the Commissioners of the District of Columbia, or their designated agent,". (16) Such Act is further amended by adding at the end thereof the following new section: "SEC. 11. A S used in this Act the term— "(1) 'stadium' includes necessary motor-vehicle parking areas, and all equipment, appliances, facilities, and property of any kind, necessary to carry out the purposes of this Act." SEC. 2. (a) Section 8 of the Act entitled "An Act to establish a District of Columbia Armory Board, and for other purposes", approved June 4, 1948 (D. C. Code, sec. 2-1708), as amended, is amended (1) by striking out "$50,000" each place where it appears and inserting in lieu thereof at each such place "$100,000"; (2) by striking out "not to exceed $11,000 at any one time to be used for office and sundry expenses of the Armory Board, including use for change-making purposes", and inserting in lieu thereof "not to exceed $15,000 at any one time to be used by the Armory Board for its office and sundry expenses and for change-making purposes in connection with the secondary purposes of this Act, and in connection with the operation of the stadium pursuant to the District of Columbia Stadium Act of 1957" and (3) by striking out ^''Provided further, That an amount not to exceed $3,000 in any fiscal year shall be available for promotional expenses in the furtherance of the secondary purposes of this Act," and inserting in lieu thereof: Provided further, That an amount not to exccea iplO,000 in any fiscal year shall be available for promotional expenses in the furtherance of the secondary purposes of this Act, and of the purposes of the District of Columbia Stadium Act of 1957,".

40 Stat. 288. 31 USC 774(2).

Reports to Congress.

'Stadium".

Armory Board. Working capital fund. 62 Stat. 341; 69 Stat. 498. Office e x p e n s e s.

Promotional penses.

ex-

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