30 U.S.C. § 1144 : US Code - Section 1144: Geothermal Resources Development Fund

Search 30 U.S.C. § 1144 : US Code - Section 1144: Geothermal Resources Development Fund

(a) Establishment; purposes for which Fund moneys may be expended
There is established in the Treasury of the United States a
Geothermal Resources Development Fund, which shall be available to
the head of the designated agency for carrying out the loan
guaranty and interest assistance program authorized by this
subchapter, including the payment of administrative expenses
incurred in connection therewith. Moneys in the fund not needed for
current operations may, with the approval of the Secretary of the
Treasury, be invested in bonds or other obligations of, or
guaranteed by, the United States.
(b) Deposits into the Fund
There shall be paid into the fund the amounts appropriated
pursuant to section 1164(c) of this title and such amounts as may
be returned to the United States pursuant to section 1142(b) of
this title, and the amounts in the fund shall remain available
until expended, except that after the expiration of the ten-year
period established by section 1143 of this title, such amounts in
the fund which are not required to secure outstanding guaranty
obligations shall be paid into the general fund of the Treasury.
(c) Borrowing authority of Secretary of Energy
If at any time the moneys available in the fund are insufficient
to enable the Secretary of Energy to discharge his responsibilities
under this subchapter, he shall issue to the Secretary of the
Treasury notes or other obligations in such forms and denominations
bearing such maturities, and subject to such terms and conditions,
as may be prescribed by the Secretary of the Treasury. This
borrowing authority shall be effective only to such extent or in
such amounts as are specified in appropriation Acts. Such
authorizations may be without fiscal year limitations. Redemption
of such notes or obligations shall be made by the Secretary of
Energy from appropriations or other moneys available under this
section. Such notes or other obligations shall bear interest at a
rate determined by the Secretary of the Treasury, which shall not
be less than a rate determined by taking into consideration the
average market yield on outstanding marketable obligations of the
United States of comparable maturities during the month preceding
the issuance of the notes or other obligations. The Secretary of
the Treasury shall purchase any notes or other obligations issued
hereunder and for that purpose he is authorized to use as a public
debt transaction the proceeds from the sale of any securities
issued under chapter 31 of title 31, and the purposes for which
securities may be issued under that chapter are extended to include
any purchase of such notes or obligations. The Secretary of the
Treasury may at any time sell any of the notes or other obligations
acquired by him under this subsection. All redemptions, purchases,
and sales by the Secretary of the Treasury of such notes or other
obligations shall be treated as public debt transactions of the
United States.
(d) Omitted