22-U.S.C.-3714

§3714 – Borrowing Authority

Pathway

Title 22 > Chapter 51 > Subchapter I > Part 3 > Subpart i > Section 3714

Details

• Reference: Section 3714
• Legend: §3714 – Borrowing Authority
• USCode Year: 2013

Provision Content

(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

Amounts borrowed under this section shall not be available for payments to Panama under Article XIII of the Panama Canal Treaty of 1977.

(c) Effect on investment interest in Panama Canal

Amounts borrowed under this section shall increase the investment of the United States in the Panama Canal, and repayment of such amounts shall decrease such investment.

(d) Report to Congress

The Commission shall report to the Congress and to the Office of Management and Budget on each exercise of borrowing authority under this section.

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

Effective Date

Section effective Jan. 1, 1988, see section 5429 of Pub. L. 100–203, set out as an Effective Date of 1987 Amendment note under section 3712 of this title.

U.S. Encyclopedia of Law Coverage

22-U.S.C.-3673 in the Legal Encyclopedia: Foreign Relations

In this entry about 22-U.S.C.-3673, find legal reference material, bibliographies and premiere content related to foreign relations in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign relations-specific issues, written by authorities in the field.

22-U.S.C.-3681 in the Legal Encyclopedia: Panama Canal

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22-U.S.C.-3712A in the Legal Encyclopedia: Panama

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Subpart iv – Retirement in the Legal Encyclopedia: Central America

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Topic Map

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