20 U.S.C. § 5201 — Purposes

Page 1267 TITLE 20—EDUCATION § 5202 1 So in original. Probably should be ‘‘interest’’. ity of education for America’s technically trained workforce. PART D—ACCESS DEMONSTRATION PROGRAMS §§ 5121 to 5124. Repealed. Pub. L. 103–382, title III, § 391(i), Oct. 20, 1994, 108 Stat. 4023 Section 5121, Pub. L. 100–418, title VI, § 6141, Aug. 23, 1988, 102 Stat. 1513, stated purpose of this part. Section 5122, Pub. L. 100–418, title VI, § 6142, Aug. 23, 1988, 102 Stat. 1513; Pub. L. 101–26, § 1, May 11, 1989, 103 Stat. 54, authorized grants for development of training programs for secondary school personnel. Section 5123, Pub. L. 100–418, title VI, § 6143, Aug. 23, 1988, 102 Stat. 1513, related to applications for grants. Section 5124, Pub. L. 100–418, title VI, § 6144, Aug. 23, 1988, 102 Stat. 1514; Pub. L. 103–382, title II, § 261(i)(3), title III, § 391(z), Oct. 20, 1994, 108 Stat. 3929, 4026, defined terms used in this part. CHAPTER 63—EISENHOWER EXCHANGE FELLOWSHIP PROGRAM Sec. 5201. Purposes. 5202. Eisenhower Exchange Fellowship Program Trust Fund. 5203. Expenditure and audit of trust fund. 5204. Authorization of appropriations. 5205. Use of income on endowment. 5206. Report to Congress. 5207. Status as executive agency. § 5201. Purposes The purposes of this chapter are— (1) to provide a permanent endowment for the Eisenhower Exchange Fellowship Pro- gram; (2) to honor Dwight D. Eisenhower for his character, courage, and patriotism, and for his leadership based on moral integrity and trust; (3) to pay tribute to President Eisenhower’s leadership in war and peace, through his di- verse understanding of history, practical af- fairs, and the hearts of humankind; (4) to address America’s need for the best possible higher education of its young talent for a competitive world which shares a com- mon and endangered environment; (5) to advance the network of friendship and trust already established in President Eisenhower’s name, so that it may continue to grow to the imminent challenges of the 21st century; (6) to complete Dwight David Eisenhower’s crusade to liberate the people’s of Europe from oppression; (7) to deepen and expand relationships with European nations developing democracy and self-determination; and (8) to honor President Dwight D. Eisenhower on the occasion of the centennial of his birth through permanent endowment of an estab- lished fellowship program, the Eisenhower Ex- change Fellowships, to increase educational opportunities for young leaders in preparation for and enhancement of their professional ca- reers, and advancement of peace through international understanding. (Pub. L. 101–454, § 2, Oct. 24, 1990, 104 Stat. 1063.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original ‘‘this Act’’, meaning Pub. L. 101–454, Oct. 24, 1990, 104 Stat. 1063, which is classified principally to this chap- ter. For complete classification of this Act to the Code, see Short Title note below and Tables. Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 101–454, § 1, Oct. 24, 1990, 104 Stat. 1063, pro- vided that: ‘‘This Act [enacting this chapter, amending sections 4901, 4902, and 4904 of Title 22, Foreign Rela- tions and Intercourse, and enacting provisions set out as notes under sections 4901 and 4902 of Title 22] may be cited as the ‘Eisenhower Exchange Fellowship Act of 1990’.’’ § 5202. Eisenhower Exchange Fellowship Pro- gram Trust Fund (a) Establishment There is established in the Treasury of the United States a trust fund to be known as the Eisenhower Exchange Fellowship Program Trust Fund (hereinafter in this chapter referred to as the ‘‘fund’’). The fund shall consist of amounts authorized to be appropriated under section 5204 of this title. (b) Investment in interest-bearing obligations It shall be the duty of the Secretary of the Treasury to invest in full amounts appropriated to the fund. Such investments may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interests 1 by the United States. For such purpose, such obligations may be acquired (1) on original issue at the issue price, or (2) by purchase of outstanding obliga- tions at the market price. The purposes for which obligations of the United States may be issued under chapter 31 of title 31, are hereby ex- tended to authorize the issuance at par of spe- cial obligations exclusively to the fund. Such special obligations shall bear interest at a rate equal to the average rate of interest, computed as to the end of the calendar month next pre- ceding the date of such issue borne by all mar- ketable interest-bearing obligations of the United States then forming a part of the public debt; except that where such average rate is not a multiple of one-eighth of 1 percent, the rate of interest of such special obligations shall be the multiple of one-eighth of 1 percent next lower than such average rate. Such special obligations shall be issued only if the Secretary determines that the purchase of other interest-bearing obli- gations of the United States, or of obligations guaranteed as to both principal and interest by the United States or original issue or at the market price, is not in the public interest. (c) Sale and redemption of obligations Any obligation acquired by the fund (except special obligations issued exclusively to the fund) may be sold by the Secretary of the Treas- ury at the market price, and such special obliga- tions may be redeemed at par plus accrued in- terest. (d) Credit to fund of interest and proceeds of sale or redemption The interest on, and the proceeds from the sale or redemption of, any obligations held in