Browse Arkansas Code titles and sections
22 U.S.C. § 3714b — Borrowing authority
Federal law — U.S. Code and appendices · legal_authorities
**(a) Limitation on amount; issuance of notes and other obligations** The Panama Canal Commission may borrow from the Treasury, for any of the purposes of the Commission, not more than $100,000,000 outstanding at any time. For this purpose, the Commission may issue to the Secretary of the Treasury its notes or other obligations—
(1) which shall have maturities (of not later than December 31, 1999) agreed upon by the Commission and the Secretary of the Treasury, and
(2) which may be redeemable at the option of the Commission before maturity.
**(b) Restrictions on use** Amounts borrowed under this section shall not be available for payments to Panama under Article XIII of the Panama Canal Treaty of 1977.
**(c) Effect on investment interest in Panama Canal** Amounts borrowed under this section shall increase the investment of the United States in the Panama Canal, and repayment of such amounts shall decrease such investment.
**(d) Report to Congress** The Commission shall report to the Congress and to the Office of Management and Budget on each exercise of borrowing authority under this section.
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 3714b
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 5dcae8e9b1848584495181e2375f41de447a3ac68696b2e61faaa7beb0ec57e1. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_d920a355a752e3c968e171a2
Source file: Laws/federal/codes/united-states-code/title-22/section-3714b-borrowing-authority--0670979bfd.md
Pages: Not recorded – Not recorded
Passage SHA-256: 2d903dba42403753163065229c24569d3fb052779ff8fd81aa65fee2d4747c0c
Source location: Title 22, Chapter 51, § 3714b; chapter-051-panama-canal.md
Stored source content
**(a) Limitation on amount; issuance of notes and other obligations** The Panama Canal Commission may borrow from the Treasury, for any of the purposes of the Commission, not more than $100,000,000 outstanding at any time. For this purpose, the Commission may issue to the Secretary of the Treasury its notes or other obligations—
(1) which shall have maturities (of not later than December 31, 1999) agreed upon by the Commission and the Secretary of the Treasury, and
(2) which may be redeemable at the option of the Commission before maturity.
**(b) Restrictions on use** Amounts borrowed under this section shall not be available for payments to Panama under Article XIII of the Panama Canal Treaty of 1977.
**(c) Effect on investment interest in Panama Canal** Amounts borrowed under this section shall increase the investment of the United States in the Panama Canal, and repayment of such amounts shall decrease such investment.
**(d) Report to Congress** The Commission shall report to the Congress and to the Office of Management and Budget on each exercise of borrowing authority under this section.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Applicability of chapter 71 of title 5** Nothing in this chapter shall be construed to affect the applicability of chapter 71 of title 5, relating to labor-management and employee relations, with respect to the Commission or the operations of any other Executive agency conducted in that area of the Republic of Panama which, on September 30, 1979, was the Canal Zone, except that in applying those provisions—
(1) the definition of “employee” shall be applied without regard to clause (i) of section 7103(a)(2) of such title 5 which relates to nationality and citizenship;
(2) a unit shall be considered to be appropriate notwithstanding the fact that it includes any supervisor if that supervisor’s position (or type of position) was, before October 1, 1979, represented before the Panama Canal Company by a labor organization that included employees who were not supervisors; and
(3) any negotiated grievance procedures under [section 7121 of title 5](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title5-section7121&num=0&edition=prelim), including any provisions relating to binding arbitration, shall, with respect to any personnel action to which subchapter II of chapter 75 of such title applies (as determined under section 7512 of such title), be available to the same extent and in the same manner as if employees of the Panama Canal Commission were not excluded from such subchapter under section 7511(b)(8) of such title.
**(b) United States laws applicable** Labor-management and employee relations of the Commission, other Executive agencies, and the Smithsonian Institution, their employees, and organizations of those employees, in connection with operations conducted in that area of the Republic of Panama which, on September 30, 1979, was the Canal Zone,
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 3712
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 1399
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 3715a
with the termination of the Panama Canal Trea-
ty of 1977 shall be subject to the approval of the
Board provided for in section 3612 of this title.
(3) The Fund shall consist of—
(A) such amounts as may be deposited into
the Fund by the Commission, from amounts
collected as toll receipts, to pay the costs de-
scribed in paragraph (2); and
(B) amounts credited to the Fund under
paragraph (4).
(4)(A) The Secretary of the Treasury shall in-
vest excess amounts in the Fund in public debt
securities with maturities suitable to the needs
of the Fund, as determined by the manager of
the Fund.
(B) Securities invested under subparagraph (A)
shall bear interest at rates determined by the
Secretary of the Treasury, taking into consider-
ation current market yields on outstanding
marketable obligations of the United States of
comparable maturity.
(C) Interest earned on securities invested
under subparagraph (A) shall be credited to and
form part of the Fund.
(5)(A) Amounts in the Fund may not be obli-
gated or expended in any fiscal year unless the
obligation or expenditure is specifically author-
ized by law.
(B) The office established by subsection (b) is
authorized to expend or obligate funds from the
Fund for the purposes enumerated in clauses (i)
and (ii) of paragraph (2)(A) until October 1, 2004.
(6) The Fund shall terminate on October 1,
2004. Amounts in the Fund on that date shall be
deposited in the general fund of the Treasury of
the United States.
(Pub. L. 96–70, title I, § 1305, as added Pub. L.
102–484, div. C, title XXXV, § 3521(a), Oct. 23, 1992,
106 Stat. 2656; amended Pub. L. 106–65, div. C,
title XXXV, § 3504(a), Oct. 5, 1999, 113 Stat. 975.)
Editorial Notes
AMENDMENTS
1
Source: Supplied 2024 U.S. Code historical extraction · 22 U.S.C. § 3714b
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.