20 U.S.C. § 5607a : US Code - Section 5607A: Environmental Dispute Resolution Fund

Search 20 U.S.C. § 5607a : US Code - Section 5607A: Environmental Dispute Resolution Fund

(a) Establishment
There is established in the Treasury of the United States an
Environmental Dispute Resolution Fund to be administered by the
Foundation. The Fund shall consist of amounts appropriated to the
Fund under section 5609(b) of this title and amounts paid into the
Fund under section 5607b of this title.
(b) Expenditures
The Foundation shall expend from the Fund such sums as the Board
determines are necessary to establish and operate the Institute,
including such amounts as are necessary for salaries,
administration, the provision of mediation and other services, and
such other expenses as the Board determines are necessary,
including not to exceed $1,000 annually for official reception and
representation expenses.
(c) Distinction from Trust Fund
The Fund shall be maintained separately from the Trust Fund
established under section 5606 of this title.
(d) Investment of amounts
(1) In general
The Secretary of the Treasury shall invest such portion of the
Fund as is not, in the judgment of the Secretary, required to
meet current withdrawals.
(2) Interest-bearing obligations
Investments may be made only in interest-bearing obligations of
the United States.
(3) Acquisition of obligations
For the purpose of investments under paragraph (1), obligations
may be acquired -
(A) on original issue at the issue price; or
(B) by purchase of outstanding obligations at the market
price.
(4) Sale of obligations
Any obligation acquired by the Fund may be sold by the
Secretary of the Treasury at the market price.
(5) Credits to Fund
The interest on, and the proceeds from the sale or redemption
of, any obligations held in the Fund shall be credited to and
form a part of the Fund.