Page:United States Statutes at Large Volume 88 Part 1.djvu/791

 88

STAT.]

PUBLIC LAW 93-386-AUG. 23, 1974

747

administratively declared moratorium, then, for purposes of this section, no duplication shall be deemed to have occurred.". SEC. 6. (a) The Small.Business Investment Act of 1958 is amended— (1) by striking out in the table of contents in section 101 all references to title IV and section numbers therein and inserting in lieu thereof the following: "TITLE IV - ^ U A R A N T E E S "PAKT A—'LEASE GXTARANTEES

"Sec. 401. Authority of the Administration. "Sec. 402. Powers. "Sec. 403. Fund. "PART B—SURETY BOND OUARANTEES

"Sec. 410. Definitions. "Sec. 411. Authority of the Administration. "Sec. 412. Fund."; (2) by striking out section 403 and inserting in lieu thereof the following:

is use 694.

"FUND

"SEC. 403. There is hereby created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitations as a revolving fund for the purposes of this part. There are authorized to be appropriated to the fund from time to time such amounts not to exceed $10,000,000 to provide capital for the fund. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with this part, shall be deposited in the fund. AH expenses and payments pursuant to operations of the Administrator under ttiis part shall be paid from the fund. From time to time, and at least at the close of each fiscal year, the Administrator shall pay from the fund into Treasury as miscellaneous receipts interest at a rate determined by the Secretary of the Treasury on the cumulativ^e amount of appropriations available as capital to the fund, less the average undisbursed cash balance in the fund during the year. The rate of such interest shall be determined by the Secretary of the Treasury, and shall not be less than a rate determined by taking into consideration the average market yield during the month preceding each fiscal year on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the average maturity of guarantees from the fund. Moneys in the fund not needed for the payment of current operating expenses or for the payment of claims arising under this part may be invested in bonds or other obligations of, or bonds or other obligations guaranteed as to principal and interest by, the United States; except that moneys provided as capital for the fund shall not be so invested."; ,i (3) by striking out "$500,000" in section 411 and inserting in lieu thereof "$1,000,000"; and (4) by adding after section 411 the following new section:

Establishment.

Appropriation.

Interest r a t e.

15 USC 694b.

'FUND

"SEC. 412. There is hereby created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitation as a revolving fund for the purposes of this part. There are authorized to be appropriated to the fund from time to time such amounts not to exceed $35,000,000 to provide capital for the fund. All amounts received by the Administrator, including

Establishment. 15 USC 6 9 4 c.

Appropriation.

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