Increase in authorized capital stock of Bank and increase in resources of Fund for Special Operations; United States share; authorization of appropriations

22 U.S.C. § 283w

• Title: 22 — Foreign Relations and Intercourse
• Chapter: SUBCHAPTER XII—INTER-AMERICAN DEVELOPMENT BANK

Text

(a) The United States Governor of the Bank is hereby authorized to vote in favor of two resolutions proposed by the Governors at a special meeting in July 1975, and now pending before the Board of Governors of the Bank, which provide for (1) an increase in the authorized capital stock of the Bank and additional subscriptions of members thereto and (2) an increase in the resources of the Fund for Special Operations and contributions thereto. Upon adoption of such resolutions, the United States Governor is authorized to agree on behalf of the United States (1) to subscribe to ninety-nine thousand four hundred and seventy-four shares of $10,000 par value of the increase in the authorized capital stock of the Bank of which eighty-nine thousand five hundred and twenty-six shall be callable shares and nine thousand nine hundred and forty-eight shall be paid in and (2) to contribute to the Fund for Special Operations $600,000,000, in accordance with and subject to the terms and conditions of such resolutions.
(b) There are hereby authorized to be appropriated, without fiscal year limitation, the amounts necessary for payment by the Secretary of the Treasury of (1) $1,199,997,873 for the United States subscription to the capital stock of the Bank and (2) $600,000,000 for the United States share of the increase in the resources of the Fund for Special Operations: Provided, however, That not more than $15,677,000 may be made available to the Fund for Special Operations for the fiscal year 1982.

History

(Pub. L. 86–147, §26, as added Pub. L. 94–302, title I, §101, May 31, 1976, 90 Stat. 591; amended Pub. L. 97–35, title XIII, §1351(c), Aug. 13, 1981, 95 Stat. 744.)

Editorial Notes

Editorial Notes

Amendments
1981—Subsec. (b). Pub. L. 97–35 inserted provision limiting amount of appropriations available for Fund for Special Operations for fiscal year 1982.

Statutory Notes and Related Subsidiaries

Effective Date of 1981 Amendment
Amendment by Pub. L. 97–35 effective Aug. 13, 1981, except that any funds authorized to be appropriated shall not be available for use or obligation prior to Oct. 1, 1981, see section 1372 of Pub. L. 97–35, set out as an Effective Date note under section 290i of this title.