33 U.S.C. § 701b-10 : US Code - Section 701B-10: Revolving fund; establishment; availability; reimbursement; transfer of funds; limitation

Search 33 U.S.C. § 701b-10 : US Code - Section 701B-10: Revolving fund; establishment; availability; reimbursement; transfer of funds; limitation

There is established a revolving fund, to be available without
fiscal year limitation, for expenses necessary for the maintenance
and operation of the plant and equipment of the Corps of Engineers
used in civil works functions, including acquisition of plant and
equipment, maintenance, repair, and purchase, operation, and
maintenance of not to exceed four aircraft at any one time,
temporary financing of services finally chargeable to
appropriations for civil works functions, and the furnishing of
facilities and services for military functions of the Department of
the Army and other Government agencies and private persons, as
authorized by law, $100; and in addition, the Secretary of the Army
is authorized to provide capital for the fund by capitalizing the
present inventories, plant and equipment of the civil works
functions of the Corps of Engineers. The fund shall be credited
with reimbursements or advances for the cost of equipment,
facilities, and services furnished, at rates which shall include
charges for overhead and related expenses, depreciation of plant
and equipment, and accrued leave: Provided, That on July 1, 1953,
(1) the fund shall assume the assets, liabilities, and obligations
of the Plant accounts, as carried on the records of the Corps of
Engineers as of June 30, 1953, under the appropriations for
"Maintenance and improvement of existing river and harbor works",
"Flood control, general", and "Flood control, Mississippi River and
tributaries", and (2) there shall be transferred from said
appropriations to the fund amounts equivalent to the unexpended
cash balances of the Plant accounts on June 30, 1953: Provided
further, That the total capital of said fund shall not exceed
$140,000,000.