Page:United States Statutes at Large Volume 81.djvu/763

 81

STAT.]

PUBLIC LAW 90-224-DEC. 26, 1967

729

Public Law 90-224 AN ACT

December 26, 1967

To authorize the extension of certain naval vessel loans now in existence and new loans, and for other purposes.

[H. R. 6167}

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That, notwith- Loln^^^ension. standing section 7307 of-title 10, United States Code, or any other 7OA Stat. 452. law, the President may extend on such terms and under such conditions as he deems appropriate the loan of ships, previously authorized as indicated, as follows: (1) Argentina, three destroyers (Act of July 18, 1958 (72 Stat. 376)); (2) Brazil, two destroyers and two submarines (Act of July 18, 1958 (72 Stat. 3 7 6)); (3) Chile, two i8^7°8e^?878f" submarines and two destroyers (Act of July 18, 1958 (72 Stat. 376)); (4) Colombia, one destroyer (Act of July 18, 1958 (72 Stat. 376)); (5) Federal Republic of Germany, one destroyer (Act of August 5, 1953 (67 Stat. 363), as amended by Act of August 3, 1956 (70 Stat, so use app. 967)); (6) Greece, one submarine (Act of August 5, 1953 (67 Stat. 1878-1878d. 363), as amended by Act of August 3, 1956 (70 Stat. 967)), two destroyers (Act of October 4, 1961 (75 Stat. 815)); (7) Korea, two J^^^'^^^^^f^'' destroyer escorts (Act of August 5, 1953 (67 Stat. 363), as amended), one destroyer and one destroyer escort (Act of October 4, 1961 (75 —. Stat. 815)); (8) Portugal, two destroyer escorts (Act of August 5, 1953 (67 Stat. 363), as amended by Act of August 3, 1956 (70 Stat. 967)); (9) Spain, two destroyers (Act of August 5, 1953 (67 Stat. 363), as amended by Act of August 3, 1956 (70 Stat. 9 6 7)); (10) Peru, one destroyer (Act of July 18, 1958 (72 Stat. 376)). SEC. 2. Notwithstanding section 7307 of title 10, United States Code, KSel^'R^ublic or any other provision of law, the President may lend two destroyers of°c^hina.^^" to the Government of Korea and one destroyer to the Republic of China, in addition to any ships previously authorized to be loaned to these nations, with or without reimbursement and on such terms and under such conditions as the President may deem appropriate. All expenses involved in the activation, rehabilitation, and outfitting (including repairs, alterations, and logistic support) of ships transferred under this section shall be charged to funds programed for the recipient government as grant military assistance, or as reimbursable, under the provisions of the Foreign Assistance Act of 1961, as amended, or successor legislation. The authority of the President 22 USC' 2K 1 to lend naval vessels under this section shall terminate on December 31, note. 1969. SEC. 3. All new loans and loan extensions executed under this Act loa^f'^on-"' shall be for periods not exceeding five years, but the President may in d°uk^'''°"" ions. his discretion extend such loans for an additional period of not more than five years. Any agreement for a new loan or for the extension of a loan executed under this Act shall be made subject to the condition that the agreement may be terminated by the President if he finds that the armed forces of the borrowing country have engaged, at any time after the date of such agreement, in acts of warfare against any country which is a party to a mutual defense treaty ratified by the United States. Any agreement for a new loan or for the extension of a loan executed pursuant to this Act shall be subject to the condition that the agreement will be immediately terminated upon a finding made by the President that the country with which such agreement was made has seized any United States fishing vessel on account of its fishing activities in international waters, except that such condition shall not be applicable in any case governed by international agreement to which the United States is a party. All loans and loan extensions shall be made on the condition that they

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