2011 US Code
Title 22 - Foreign Relations and Intercourse
Chapter 51 - PANAMA CANAL (§§ 3601 - 3873)
Subchapter I - ADMINISTRATION AND REGULATIONS (§§ 3611 - 3823)
Part 3 - Funds and Accounts (§§ 3711 - 3754)
Subpart i - funds (§§ 3711 - 3715d)
Section 3714 - Borrowing authority
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 5, Title 22 - FOREIGN RELATIONS AND INTERCOURSE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 51 - PANAMA CANAL SUBCHAPTER I - ADMINISTRATION AND REGULATIONS Part 3 - Funds and Accounts subpart i - funds Sec. 3714 - Borrowing authority |
| Contains | section 3714 |
| Date | 2011 |
| Laws in Effect as of Date | January 3, 2012 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 96-70, title I, §1304, as added Pub. L. 100-203, title V, §5424(a), Dec. 22, 1987, 101 Stat. 1330-273. |
| Statutes at Large Reference | 101 Stat. 1330-273 |
| Public Law References | Public Law 96-70, Public Law 100-203 |
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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 useAmounts 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 CanalAmounts 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 CongressThe 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 DateSection 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.
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