Page:United States Statutes at Large Volume 73.djvu/760

 722

PUBLIC LAW 86-383-SEPT. 28, 1959

[73 S T A T.

agency any function or functions provided for under this appropriation, and there shall be transferred to any such department or agency without reimbursement and without regard to the appropriation from which procured, such property as the Director of the Bureau of the Budget shall determine to relate primarily to any function or functions so transferred. CONSTRUCTION OF POWER SYSTEMS, RYUKYU ISLANDS

For loans by the Secretary of the Army to the Ryukyu Electric Power Corporation, an instrumentality of the United States Civil Administration of the Ryukyu Islands, for completion of construction, installation, and equipment of electric power systems in the Ryukyu Islands, $18,000,000, to remain available until expended: Provided, That repayment of such loans shall be made to miscellaneous receipts of the Treasury over a period of twenty-five years to commence five years after the date any such loan is made, with interest at such rate as may be fixed by the Secretary of the Treasury, taking into consideration the current average market yields of outstanding marketable obligations of the United States having a comparable maturity. TITLE

31 uVc I49.'

III—EXPORT-IMPORT

BANK OF

WASHINGTON

The Export-Import Bank of Washington is hereby authorized to make such expenditures within the limits of funds and borrowing authority available to such corporation, and in accord with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 104 of the Government Corporation Control Act, as amended, as may be necessary in carrying out the programs set forth in the budget for the fiscal year 1960 for such corporation, except as hereinafter provided: LIMITATION ON ADMINISTRATIVE EXPENSES, EXPORT-IMPORT B A N K OF WASHINGTON

Not to exceed $2,500,000 (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 administrative expenses of the Bank, including services as authorized by section 15 of the Act of August 2, 60 Stat. 810. 1946 (5 XJ.S.C. 55a), at rates not to exceed $75 per diem for individuals, and not to exceed $9,000 for entertainment allowances for members of the Board of Directors when specifically authorized by the Chairman of the Board; and, in addition, not to exceed the equivalent of $200,000 of the aggregate atnount of foreign currencies made available to the Export-Import Bank for loans pursuant to the Agricul7* u ^s* c^t*6 9 I t^^^l Trade Development and Assistance Act of 1954, as amended, shall note. be available during the current fiscal year for expenses incurred by the Export-Import Bank incident to such loans: Provided, That fees or dues to international organizations of credit institutions engaged in financing foreign trade and 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.

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