Whereas the General Assembly of the United Nations, by resolution of November 20, 1947, authorized the Secretary-General to negotiate such a loan with the appropriate officials of the United States Government, expressly recognizing that such loan would require the approval of the Congress; and
Whereas the United States Representative to the United Nations has negotiated and signed, on behalf of the United States an agreement with the United Nations in the form set forth below, providing for an interest-free loan of not more than $65,000,000 from the United States to the United Nations to be repaid in annual installments, and said agreement is, by its terms, to become effective on notification to the United Nations that the Congress, with the approval of the President, has made available the funds necessary to be advanced in accordance with the provisions of the agreement:
Therefore be it
Resolved by the Senate and House of Representatives of the United States of America in Congress assembled,Loan agreement. That the President is hereby authorized, following appropriation of the necessary funds by the Congress, or the making available of funds as provided in section 4 (b)Post, p. 1289. hereof to bring into effect on the part of the United States the loan agreement, set forth below, between the United States of America and the United Nations, signed at Lake Success, New York, on March 23, 1948, with such changes therein not contrary to the general tenor thereof and not imposing any additional obligations on the United States or relieving the United Nations of any obligations, as the President may deem necessary and appropriate:
LOAN AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND THE UNITED NATIONS
It is hereby agreed by the Government of the United States of America and the United Nations as follows:
(1) Subject to the terms and conditions of this Agreement, the Government of the United States will lend to the United Nations a sum not to exceed in the aggregate $65,000,000. Such sum shall be expended only as authorized by the United Nations for the construction and furnishing of the permanent headquarters of the United Nations in its headquarters district in The City of New York, as defined in the Agreement Between the United States of America and the United Nations Regarding the Headquarters of the United Nations, signed at Lake Success, New York, on June 26, 1947,61 Stat. 758. including the necessary architectural and engineering work, landscaping, underground construction and other appropriate improvements to the land and approaches, and for other related purposes and expenses incident thereto.
Advance of funds.(2) Such sum, or parts thereof, will be advanced by the United States through the Secretary of State, to the United Nations upon request of the Secretary-General or other duly authorized officer of the United Nations and upon the certification of the architect or engineer in charge of construction, countersigned by the Secretary-General or other duly authorized officer, that the amount requested is required to cover payments for the purposes set forth in paragraph (1) above which either (a) have been at any time made by the United Nations, or (b) are due and payable, or (c) it is estimated will become due and payable within sixty days from the date of such request. All sums not used by the United Nations for the purposes set forth in paragraph (1) will be returned to the United States through the Secretary of State when no longer required for said purposes. No amounts will be advanced hereunder after July 1, 1951, or such later
