20 U.S.C. § 74a : US Code - Section 74A: Permanent loan of funds by Board of Trustees to Treasury; semiannual interest payments to Board
Search 20 U.S.C. § 74a : US Code - Section 74A: Permanent loan of funds by Board of Trustees to Treasury; semiannual interest payments to Board
The Secretary of the Treasury is authorized and directed to
receive into the Treasury from time to time as a permanent loan by
the Board of Trustees of the National Gallery of Art to the United
States sums in cash of not to exceed $5,000,000 in the aggregate,
and to pay interest on the principal amount of such loan at a rate
which is the higher of the rate of 4 per centum per annum or a rate
which is .25 percentage points less than a rate determined by the
Secretary of the Treasury, taking into consideration the current
average market yield on outstanding long-term marketable
obligations of the United States, adjusted to the nearest one-
eighth of 1 per centum, payable semiannually. Such interest is
permanently appropriated for payment to the Board of Trustees of
the National Gallery of Art.
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