42 U.S.C. § 2311 : US Code - Section 2311: Community Disposal Operations Fund

Search 42 U.S.C. § 2311 : US Code - Section 2311: Community Disposal Operations Fund

(a) Establishment
There is established as of June 30, 1956, a Community Disposal
Operations Fund, and the Commission (or the head of such agency as
may be carrying out the sales and financing functions of the
Commission pursuant to a delegation by the President under section
2313 of this title) is authorized to credit said fund with all
moneys hereafter obtained or now held by it and to account under
said fund for all assets and liabilities held or acquired by it in
connection with its sales and financing functions under this
chapter, and to make temporary advances to such fund, from any
other funds available for expenses of operations of such Commission
or agency, as may be required to carry out such functions pending
the realization of sufficient proceeds under the provisions of this
chapter: Provided, That any such advances shall be repaid to the
source appropriation or fund, to the extent of any unobligated
balances available in the Community Disposal Operations Fund, prior
to the close of the fiscal year during which such advances are
made.
(b) Availability
The Community Disposal Operations Fund shall be available to pay
for all necessary costs, expenses (including administrative
expenses), losses or obligations incurred in connection with the
aforesaid functions, including expenses incident to sale, or other
transfer and any financing under section 2362 of this title,
indemnities under sections 2363 to 2366 of this title, and expenses
authorized by section 2310 of this title, and expenses in
connection with the defense and payment of any claims for breaches
of warranties and covenants of title of any property disposed of
pursuant to this chapter.
(c) Liquidating dividends
Any amount in said fund which is determined to be in excess of
requirements for the purposes thereof shall be declared and paid as
liquidating dividends to the Treasury, not less often than
annually.