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16 U.S.C. § 742c–1 — Investment in obligations of the United States; proceeds to be used for fisheries
Federal law — U.S. Code and appendices · legal_authorities
All moneys in the Fisheries Loan Fund established under Section 11 So in original. Probably should not be capitalized. 742c of this title shall be invested by the Secretary of Commerce in obligations of the United States, except so much as shall be currently needed for loans or administrative expenses authorized under the Fisheries Loan Fund. All accrued proceeds from such investment shall be, subject to amounts provided in advance by appropriations, credited by the Secretary of the Treasury to the debt of the Secretary of Commerce incurred under [section 53723 of title 46](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53723&num=0&edition=prelim) in connection with fisheries financing under chapter 537 of title 46 for so long as such debt exists. All accrued proceeds from such investment, after such debt has been liquidated, shall be, subject to amounts provided in advance by appropriations, credited to the fisheries portion of the Federal Ship Financing Fund established under section 1102 of the Merchant Marine Act, 1936, as amended, and used for the fisheries purposes provided in chapter 537 of title 46.
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 742c–1
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Stable record: federal_law:legal_authorities:record_usc_30749c95cacf76a896e39373
Source file: Laws/federal/codes/united-states-code/title-16/section-742c1-investment-in-obligations-of-the-united-states-proceeds-to-be-used-for-f--0d8d23be2a.md
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Passage SHA-256: 10311d2849685afee25fcb6a4bdbb384556d2ec4e6980db2fad809b4411d3686
Source location: Title 16, Chapter 9, § 742c–1; chapter-009-fish-and-wildlife-service.md
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All moneys in the Fisheries Loan Fund established under Section 11 So in original. Probably should not be capitalized. 742c of this title shall be invested by the Secretary of Commerce in obligations of the United States, except so much as shall be currently needed for loans or administrative expenses authorized under the Fisheries Loan Fund. All accrued proceeds from such investment shall be, subject to amounts provided in advance by appropriations, credited by the Secretary of the Treasury to the debt of the Secretary of Commerce incurred under [section 53723 of title 46](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53723&num=0&edition=prelim) in connection with fisheries financing under chapter 537 of title 46 for so long as such debt exists. All accrued proceeds from such investment, after such debt has been liquidated, shall be, subject to amounts provided in advance by appropriations, credited to the fisheries portion of the Federal Ship Financing Fund established under section 1102 of the Merchant Marine Act, 1936, as amended, and used for the fisheries purposes provided in chapter 537 of title 46.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition.—** In this section, the term “FCRA” means the Federal Credit Reform Act of 1990 ([2 U.S.C. 661](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661&num=0&edition=prelim) et seq.).
**(b) Loan Guarantees by Administrator.—**
(1) **When not subject to fcra.—** — The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in an account in the Treasury entitled the Federal Ship Financing Fund Liquidating Account (a liquidating account as defined in FCRA).
(2) **When subject to fcra.—** — The Administrator shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury entitled the Federal Ship Financing Guaranteed Loan Financing Account (a financing account as defined in FCRA).
**(c) Loan Guarantees by Secretary.—**
(1) **When not subject to fcra.—** — The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and not subject to FCRA in a separate account in the Treasury established for this purpose.
(2) **When subject to fcra.—** — The Secretary shall account for payments and disbursements involving obligations guaranteed under this chapter and subject to FCRA in a separate account in the Treasury established for this purpose.
**(d) Direct Loans by Secretary.—** The Secretary shall account for payments and disbursements involving direct loans made under this chapter in a separate account in the Treasury established for this purpose.
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 53717
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Cash Payment.—** Amounts required to be paid by the Secretary or Administrator under section 53721 or 53722 of this title shall be paid in cash.
**(b) Issuance of Obligations.—** If amounts in the appropriate account under [section 53717 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section53717&num=0&edition=prelim) are not sufficient to make a payment required under section 53721 or 53722 of this title, the Secretary or Administrator may issue obligations to the Secretary of the Treasury. The Secretary or Administrator, with the approval of the Secretary of the Treasury, shall prescribe the form, denomination, maturity, and other terms (except the interest rate) of the obligations. The Secretary of the Treasury shall set the interest rate for the obligations, considering the current average market yield on outstanding marketable obligations of the United States Government of comparable maturities during the month before the obligations are issued.
**(c) Purchase of Obligations.—** The Secretary of the Treasury shall purchase the obligations issued under this section. To purchase the obligations, the Secretary of the Treasury may use as a public debt transaction the proceeds from the sale of securities issued under chapter 31 of title 31. The purposes for which securities may be issued under that chapter are extended to include the purchase of obligations under this subsection. The Secretary of the Treasury may sell obligations purchased under this section. A redemption, purchase, or sale of the obligations by the Secretary of the Treasury is a public debt transaction of the Government.
**(d) Deposits and Redemptions.—** The Secretary or Administrator shall deposit amounts borrowed under this section in the appropriate acc
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 53723
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