Page:United States Statutes at Large Volume 99 Part 1.djvu/217

 99 STAT. 195

PUBLIC LAW 99-83—AUG. 8, 1985 Act of 1961, with the understanding that the United States Government is acting with urgency and determination to oppose any actions aimed at effecting a permanent bifurcation of Cyprus. SEC. 102. TERMS OF FOREIGN MILITARY SALES CREDITS.

Section 23 of the Arms Export Control Act is amended to read as 22 USC 2763. follows: "SEC. 23. CREDIT SALES.—(a) The President is authorized to finance President of U.S. the procurement of defense articles, defense services, and design and construction services by friendly foreign countries and international organizations, on such terms and conditions as he may determine consistent with the requirements of this section. "(b) The President shall require repayment in United States Loans, dollars within a period not to exceed twelve years after the loan agreement with the country or international organization is signed on behalf of the United States Government, unless a longer period is specifically authorized by statute for that country or international organization. "(c)(1) The President shall charge interest under this section at such rate as he may determine, except that such rate may not be less than 5 percent per year. "(2) For purposes of financing provided under this section— "(A) the term 'concessional rate of interest' means any rate of interest which is less than market rates of interest; and "(B) the term 'market rate of interest' means any rate of interest which is equal to or greater than the current average interest rate (as of the last day of the month preceding the financing of the procurement under this section) that the United States Government pays on outstanding marketable obligations of comparable maturity. "(d) References in any law to credits extended under this section shall be deemed to include reference to participations in credits.". SEC. 103. MILITARY ASSISTANCE.

Section 504(a)(1) of the Foreign Assistance Act of 1961 is amended to read as follows: "(a)(1) There are authorized to be appropriated to the President to carry out the purposes of this chapter $805,100,000 for fiscal year 1986 and $805,100,000 for fiscal year 1987."

22 USC 2312. Appropriation authorization.

SEC. 104. INTERNATIONAL MILITARY EDUCATION AND TRAINING.

Section 542 of the Foreign Assistance Act of 1961 is amended to read as follows: "SEC. 542. AUTHORIZATIONS OF APPROPRIATIONS.—There are

22 USC 2347a.

au-

thorized to be appropriated to the President to carry out the purposes of this chapter $56,221,000 for fiscal year 1986 and $56,221,000 for fiscal year 1987." SEC. 105. PEACEKEEPING OPERATIONS.

(a) AUTHORIZATIONS.—Section 552(a) of the Foreign Assistance Act 22 USC 2348a. of 1961 is amended to read as follows: "(a) There are authorized to be appropriated to the President to carry out the purposes of this chapter, in addition to amounts otherwise available for such purposes, $37,000,000 for fiscal year 1986 and $37,000,000 for fiscal year 1987.". (b) PEACEKEEPING OPERATIONS EMERGENCIES.—(1) Section 552 of

such Act is amended—

�