Page:United States Statutes at Large Volume 94 Part 1.djvu/715

 PUBLIC LAW 96-294—JUNE 30, 1980

94 STAT. 665

UNLAWFUL CONTRACTS

SEC. 138. Sections 431 and 432 of title 18, United States Code, shall 42 USC 8738. apply to all contracts, instruments, or agreements of the Corporation, other than those contracts, instruments, or agreements of the Corporation which are exempted from the application of such sections by section 433 of such title, as if the Corporation were an agency of the United States. Such contracts, instruments, or agreements include financial assistance, advances, discounts and rediscounts, acceptances, releases, and substitution of security, together with extensions or renewals thereof. FEES

SEC. 139. (a) The Corporation may charge and collect fees in 42 USC 8739. connection with the financial assistance provided pursuant to this part: Provided, That such fees shall not exceed 1 per centum of the amount of such financial assistance. Fees received by the Corporation may be applied against the administrative expenses of the Corporation related to providing financial assistance and probable losses. (b) The Corporation shall prescribe and collect an annual fee in connection with each loan guarantee provided pursuant to this part of one-half of 1 per centum of the amount of such loan guarantee. Sums realized from such loan guarantee fees shall be deposited in the Energy Security Reserve and shall be used solely to meet obligations arising from default by a recipient of financial assistance under this part. DISPOSITION OF SECURITIES

SEC. 140, The Corporation shall, as soon as practicable, sell in 42 USC 8740. public or private transactions all or any part of the notes, bonds, or any other evidences of indebtedness (except for the instrument of indebtedness received by the Corporation for any loan pursuant to section 132) of any other person ownership of which is acquired by the Corporation pursuant to this part: Provided, That, in the case of joint ventures pursuant to section 136 and Corporation construction projects, any contract by the Corporation in connection therewith shall provide for the disposition, as soon as practicable, of any notes, bonds, or other evidences of ownership acquired by the Corporation pursuant to this part. SUBTITLE E—CORPORATION CONSTRUCTION PROJECTS CORPORATION CONSTRUCTION AND CONTRACTOR OPERATION

SEC. 141. (a) Subject to the requirements of section 126(aKlXD), 42 USC 874i. section 126(a)(3), and section 142, the Corporation is authorized to Ante, p. 644. own synthetic fuel projects, and the Corporation shall contract for the construction and operation of any such synthetic fuel proiect (hereinafter referred to as a "Corporation construction project): Provided, That, prior to the approval of a comprehensive strategy pursuant to section 126(c), the Corporation may undertake such projects only if, in the judgment of the Board of Directors, the Corporation construction project is necessary to meet the objectives of section 126(a)(2) and would not otherwise be constructed with financial assistance awarded under subtitle D.

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