Page:United States Statutes at Large Volume 96 Part 1.djvu/985

 PUBLIC LAW 97-258—SEPT. 13, 1982

96 STAT. 943

of indebtedness, Treasury bills, or savings certificates of the United States Government. Under regulations of the Secretary of the Treasury, money received from the sale of an obligation and other money in the general fund of the Treasury may be used in making the purchases, redemptions, or refunds. § 3112. Sinking fund for retiring and cancelling bonds and notes (a) The Department of the Treasury has a sinking fund for retiring bonds and notes issued under this chapter. Amounts in the fund are appropriated for payment of bonds and notes at maturity or for their redemption or purchase before maturity by the Secretary of the Treasury. The fund is available until all the bonds and notes are retired. (b) For each fiscal year, an amount is appropriated equal to— (1) the interest that would have been payable during the fiscal year for which the appropriation is made on the bonds and notes bought, redeemed, or paid out of the fund during that or prior years; (2) 2.5 percent of the total amount of bonds and notes issued under the First Liberty Bond Act, the Second Liberty Bond Act, the Third Liberty Bond Act, the Fourth Liberty Bond Act, and the Victory Liberty Loan Act and outstanding on July 1, 1920, 31 USC 774. less an amount equal to the par amount of obligations of governments of foreign countries that the United States Government held on July 1, 1920; and (3) 2.5 percent of the total amount expended after June 29, 1933, from appropriations made or authorized in sections 301 and 302 of the Emergency Relief and Construction Act of 1932,

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(c) The Secretary may prescribe the price and conditions for paying, redeeming, and buying bonds and notes under this section. The average cost of bonds and notes bought under this section may not be more than par value and accrued interest. Bonds and notes bought, redeemed, or paid out of the sinking fund must be canceled and retired and may not be reissued. § 3113. Accepting gifts (a) To provide the people of the United States with an opportunity to make gifts to the United States Government to be used to reduce the public debt— (1) the Secretary of the Treasury may accept for the Government a gift of— (A) money made only on the condition that it be used to reduce the public debt; (B) an obligation of the Government included in the public debt made only on the condition that the obligation be canceled and retired and not reissued; and (C) other intangible personal property made only on the condition that the property is sold and the proceeds from the sale used to reduce the public debt; and (2) the Administrator of General Services may accept for the Government a gift of tangible property made only on the condition that it be sold and the proceeds from the sale be used to reduce the public debt. (b) The Secretary and the Administrator each may reject a gift under this section when the rejection is in the interest of the Government.

47 Stat. 716, 720.

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