Statute · United States Code
22 U.S.C. § 3714 — Borrowing authority
22 U.S.C. § 3714
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2026-10-22
(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.
Citator
22 U.S.C. § 3714 — Borrowing authority is in force in the current edition of the Code, and nothing recorded condemns it.
(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.