PUBLIC LAW 110–114—NOV. 8, 2007
121 STAT. 1243
dkrause on GSDDPC44 with PUBLAW
Sioux Tribe and the Lower Brule Sioux Tribe, respectively, to after the respective tribe certifies to the Secretary of the Treasury that the funds to be disbursed will be used in accordance with section 604(d)(3) and only after the Trust Fund is fully capitalized.’’. (b) INVESTMENT PROVISIONS OF THE STATE OF SOUTH DAKOTA TERRESTRIAL WILDLIFE RESTORATION TRUST FUND.—Section 603 of the Water Resources Development Act of 1999 (113 Stat. 388; 114 Stat. 2664) is amended— (1) by striking subsection (c) and inserting the following: ‘‘(c) INVESTMENTS.— ‘‘(1) ELIGIBLE OBLIGATIONS.—Notwithstanding any other provision of law, the Secretary of the Treasury shall invest the amounts deposited under subsection (b) and the interest earned on those amounts only in interest-bearing obligations of the United States issued directly to the Fund. ‘‘(2) INVESTMENT REQUIREMENTS.— ‘‘(A) IN GENERAL.—The Secretary of the Treasury shall invest the amounts in the Fund in accordance with the requirements of this paragraph. ‘‘(B) SEPARATE INVESTMENTS OF PRINCIPAL AND INTEREST.— ‘‘(i) PRINCIPAL ACCOUNT.—The amounts deposited in the Fund under subsection (b) shall be credited to an account within the Fund (referred to in this paragraph as the ‘principal account’) and invested as provided in subparagraph (C). ‘‘(ii) INTEREST ACCOUNT.—The interest earned from investing amounts in the principal account of the Fund shall be transferred to a separate account within the Fund (referred to in this paragraph as the ‘interest account’) and invested as provided in subparagraph (D). ‘‘(iii) CREDITING.—The interest earned from investing amounts in the interest account of the Fund shall be credited to the interest account. ‘‘(C) INVESTMENT OF PRINCIPAL ACCOUNT.— ‘‘(i) INITIAL INVESTMENT.—Each amount deposited in the principal account of the Fund shall be invested initially in eligible obligations having the shortest maturity then available until the date on which the amount is divided into 3 substantially equal portions and those portions are invested in eligible obligations that are identical (except for transferability) to the next-issued publicly issued Treasury obligations having a 2-year maturity, a 5-year maturity, and a 10-year maturity, respectively. ‘‘(ii) SUBSEQUENT INVESTMENT.—As each 2-year, 5year, and 10-year eligible obligation matures, the principal of the maturing eligible obligation shall also be invested initially in the shortest-maturity eligible obligation then available until the principal is reinvested substantially equally in the eligible obligations that are identical (except for transferability) to the next-issued publicly issued Treasury obligations having 2-year, 5-year, and 10-year maturities.
VerDate Aug 31 2005
13:52 Jan 23, 2009
Jkt 059194
PO 00001
Frm 01241
Fmt 6580
Sfmt 6581
M:\STATUTES\2007\59194PT1.001
APPS10
PsN: 59194PT1
�
