PUBLIC LAWS-CH. 358 -JULY 30, 1947 [61 STAT. 576 58 Stat. 37. TITLE II Expenditures, on- The following corporations and agencies, respectively, are hereby tracts, etc. authorized to make such expenditures, within the limits of funds and borrowing authority available to each such corporation or agency and in accord with law, and to make such contracts and commitments with- out regard to fiscal year limitations as provided by section 104 of S9 Stat.C.8 the Government Corporation Control Act, as may be necessary in Post,p. 6 . carrying out the programs set forth in the Budget for the fiscal year 1948 for each such corporation or agency, except as hereinafter provided: INDEPENDENT AGENCIES AND CORPORATIONS 60 Stat. 903. 5U.S.0. 150. 60 Stat. 810. 6U.. C.I.5a. Nonadministrative expenses. Liquidation. Payment of bonded indebtedness Export-Import Bank of Washington: Not to exceed $800,000 (to be on an accrual basis) of the funds of the Export-Import Bank of Wash- ington shall be available during the fiscal year 1948 for all adminis- trative expenses of the Bank, including not to exceed $100 for periodi- cals, $200 for newspapers, and $200 for maps; health service program as authorized by the Act of August 8, 1946 (Public Law 658), and not to exceed $24,000 for temporary services, as authorized by section 15 of the Act of August 2, 1946 (Public Law 600): Provided further, That necessary expenses (including special services performed on a contract or fee basis, but not including other personal services) in con- nection with the acquisition, operation, maintenance, improvement, or disposition of any real or personal property belong to the Bank or in which it has an interest, including expenses of collections of pledged collateral, or the investigation or appraisal of any property in respect to which an application for a loan has been made, shall be considered as nonadministrative expenses for the purposes hereof. Panama Railroad Company: Not to exceed $750,000 (to be com- puted on an accrual basis) of the funds of the Company shall be avail- able during the fiscal year 1948 for its administrative expenses, includ- ing administrative services performed for the Company by other Government agencies, which shall be determined in accordance with the Company's prescribed accounting system in effect on July 1, 1946, and shall be exclusive of depreciation, payment of claims, contributions to employees retirement system, expenditures which the Company's prescribed accounting system requires to be capitalized or charged to cost of commodities acquired, and expenses in connection with acquisition, construction, operation, maintenance, improvement, pro- tection, and disposition of facilities and other property belonging to the company or in which it has an interest. Tennessee Valley Associated Cooperatives, Inc.: Not to exceed $2,500 shall be available for administrative expenses related to liquidation: Provided, That appropriate steps shall be taken to secure the final dissolution and liquidation of the Corporation at the earliest practi- cable date and such dissolution and liquidation shall be under the supervision and direction of the Secretary of the Treasury. Tennessee Valley Authority: Not later than June 30, 1948, and not later than June 30 of each calendar year thereafter, until a total of $348,239,240 has been paid as herein provided, the board of directors of the Tennessee Valley Authority shall pay from net income derived the immediately preceding fiscal year from power operations (such net income to be determined by deducting power operating expenses allocated common expense, and interest on funded debt from total 1945, $1,115,000: Provided,That this appropriation shall be available only for completion of programs heretofore inaugurated and for the liquidation of the Inter-American Educational Foundation, Incor- porated.
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