Page:United States Statutes at Large Volume 98 Part 2.djvu/716

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PUBLIC LAW 98-000—MMMM. DD, 1984

98 STAT. 1876

PUBLIC LAW 98-473—OCT. 12, 1984

centum: Provided, That such reductions shall be applied ratably to each account, program, activity, and project provided for in this Act. Department of This Act may be cited as the "Department of the Interior and the Interior and Related Agencies Appropriations Act, 1985". Related The following may be cited as "The John F. Kennedy Center Act Agencies Amendments of 1984". Appropriations Act, 1985. Section 9 of the Kennedy Center Act (20 U.S.C. 76o) is amended— John F. Kennedy (1) by inserting "(a)" immediately after "SEC. 9.", and by Center Act striking out the third, fourth, and seventh sentences thereof; Amendments of 1984. and 20 USC 76h note. (2) by adding at the end thereof the following new subsections: "(b) Effective as of the date of enactment of this subsection the obligations of the Board incurred under subsection (a) of this section shall bear no interest, and the requirement of the Board to pay the unpaid interest which has accrued on such obligations is terminated. "(c) There is hereby established in the Treasury of the United States a sinking fund, the Kennedy Center Revenue Bond Sinking Fund (hereinafter referred to as the 'Fund'), which shall be used to retire the obligations of the Board incurred under subsection (a) of this section upon the respective maturities of such obligations. The Board shall pay into the Fund, beginning on January 1, 1987 and ending on January 1, 2016, the annual sum of $200,000 in amortization of the principal amount of the obligations. Such sums shall be invested by the Secretary of the Treasury in public debt securities with maturities suitable for the needs of the Fund and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturities. The interest on such investments shall be credited to and form a part of the Fund. Moneys in the Fund shall be used exclusively to retire the obligations of the Board incurred under subsection (a) of this section. Adjustments of not greater than plus or minus 5 per centum may be made from time to time in the annual payments to the Fund in order to correct any gains or deficiencies as a result of fluctuations in interest rates over the life of the investments: Provided, however. That a final adjustment shall be made between the Board and the Secretary of the Treasury at the end of the amortization period to correct any overall gain or deficiency in the Fund. The terms of this adjustment shall be covered by a memorandum of understanding between the Board and the Secretary of the Treasury to be consummated on or before the time the initial payment into the Fund is made.". (d) Such amounts as may be necessary for programs, projects, or activities provided for in the Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriation Act, 1985 (H.R. 6028), to the extent and in the manner provided Post p. 3305. for in the conference report and joint explanatory statement of the Committee of Conference (House Report Numbered 98-1132), filed in the House of Representatives on October 3, 1984, as if such Act had been enacted into law: Provided, That sections 204 and 307 of Public 97 Stat. 887, 895. Law 98-139 shall apply to funds appropriated in this subsection: Provided further, That notwithstanding any other provision of this joint resolution, there is appropriated $4,000,000 for the United States Institute of Peace as authorized in the United States Institute of Peace Act.