22 USC 3714 - Borrowing authority

U.S Code last checked for updates: Nov 22, 2024

§ 3714.

Borrowing authority

(a)

Limitation on amount; issuance of notes and other obligations

The Panama Canal Commission may borrow from the Treasury, for any of the purposes of the Commission, not more than $100,000,000 outstanding at any time. For this purpose, the Commission may issue to the Secretary of the Treasury its notes or other obligations—

(1)

which shall have maturities (of not later than December 31, 1999) agreed upon by the Commission and the Secretary of the Treasury, and

(2)

which may be redeemable at the option of the Commission before maturity.

(b)

Restrictions on use

(c)

Effect on investment interest in Panama Canal

(d)

Report to Congress

(Pub. L. 96–70, title I, § 1304, as added Pub. L. 100–203, title V, § 5424(a), Dec. 22, 1987, 101 Stat. 1330–273.)

cite as: 22 USC 3714