[T. I. A. S. 1899]
Agreement between the United States of America and the United Nations respecting a loan for construction and furnishing of the headquarters of the United Nations. Signed at Lake Success, New York, March 23, 1948; entered into force August 30, 1948.
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:
Sum for construction, etc., of U. N. headquarters.(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., Pt. 4, p. 346. 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.
(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 date, not after July 1, 1955, as may be agreed to by the Secretary of State.
(3) All sums advanced hereunder will be receipted for on behalf of the United Nations by the Secretary-General or other duly authorized officer of the United Nations.
Annual payment by the U.N.(4) The United Nations will repay, without interest, to the United States the principal amount of all sums advanced hereunder, in annual payments beginning on July 1, 1951, and on the dates and in the amounts indicated, until the entire amount advanced under this agreement has been repaid as follows:
| Date | Amount | Date | Amount |
| July 1, 1951 | $1,000,000 | July 1, 1967 | $2,500,000 |
| July 1, 1952 | 1,000,000 | July 1, 1968 | 2,500,000 |
| July 1, 1953 | 1,500,000 | July 1, 1969 | 2,500,000 |
| July 1, 1954 | 1,500,000 | July 1, 1970 | 2,500,000 |
| July 1, 1955 | 2,000,000 | July 1, 1971 | 2,500,000 |
| July 1, 1956 | 2,000,000 | July 1, 1972 | 2,500,000 |
| July 1, 1957 | 2,000,000 | July 1, 1973 | 2,500,000 |
| July 1, 1958 | 2,000,000 | July 1, 1974 | 2,500,000 |
| July 1, 1959 | 2,000,000 | July 1, 1975 | 2,500,000 |
| July 1, 1960 | 2,500,000 | July 1, 1976 | 1,500,000 |
| July 1, 1961 | 2,500,000 | July 1, 1977 | 1,500,000 |
| July 1, 1962 | 2,500,000 | July 1, 1978 | 1,500,000 |
| July 1, 1963 | 2,500,000 | July 1, 1979 | 1,500,000 |
| July 1, 1964 | 2,500,000 | July 1, 1980 | 1,500,000 |
| July 1, 1965 | 2,500,000 | July 1, 1981 | 1,500,000 |
| July 1, 1966 | 2,500,000 | July 1, 1982 | 1,000,000 |
However, in the event the United Nations does not request the entire sum of $65,000,000 available to it under this Agreement, the amount to be repaid under this paragraph will not exceed the aggregate amount advanced by the United States. All amounts payable to the United States under this paragraph will be paid, out of the ordinary budget of the United Nations, to the Secretary of State of the United States in currency of the United States which is legal tender for public debts on the date such payments are made. All sums repaid to the United States will be receipted for on behalf of the United States by the Secretary of State.
(5) The United Nations may at any time make repayments to the United States of funds advanced hereunder in excess of the annual installments as provided in paragraph (4) hereof.
Restrictions on the U.N.
61 Stat., Pt. 4, p. 3432.(6) The United Nations agrees that, in order to give full effect to Section 22 (a) of the Agreement regarding the Headquarters of the United Nations referred to in paragraph (1) above (under which the United Nations shall not dispose of all or any part of the land owned by it in the headquarters district without the consent of the United States), it will not, without the consent of the United States, while any of the indebtedness incurred hereunder is outstanding and unpaid, create any mortgage, lien or other encumbrance on or against any of its real property in the headquarters district as defined in said Agreement. The United Nations also agrees that the United States, as a condition to giving its consent to any such disposition or encumbrance, may require the simultaneous repayment of the balance of all installments remaining unpaid hereunder.
Effective date.(7) The effective date[1] of this Agreement shall be the date on which the Government of the United States notifies the United Nations that the Congress of the United States, with the approval of the President, has made available the funds necessary to be advanced in accordance with the provisions of this Agreement.
In Witness Whereof, the Government of the United States of America, acting by and through the United States Representative to the United Nations, and the United Nations, acting by and through the Secretary-General, have respectively caused this Agreement to be duly signed in duplicate at Lake Success, New York on this 23rd day of March, 1948.
FOR THE GOVERNMENT OF THE UNITED STATES OF AMERICA:
Warren R. Austin,
United States Representative[SEAL]
to the United Nations
FOR THE UNITED NATIONS:
Trygve Lie
Secretary-General
The United States Representative to the United Nations Secretary-General
United States Mission
to the United Nations
Procedure for loan.The United States Representative at the Seat of the United Nations presents his compliments to the Secretary-General of the United Nations and has the honor to notify him that on August 11, 1948, the President of the United States of America signed the Bill (now Public Law 903) authorizing a $65,000,000 interest-free loan to the United Nations for the construction of the Headquarters of the United Nations in New York.
The United States Representative has the honor to advise the Secretary-General that the general procedure whereby the United States Government will make available to the United Nations funds in accordance with the Headquarters Loan Agreement, and whereby reports will be rendered thereon, will be as follows:
1. The Secretary-General will deposit with the Department of State, through the United States Mission to the United Nations, formal designations of the persons who will serve, within the terms of Section 2 of the Agreement,Ante, p. 3725. as duly authorized officers for requesting the advance of funds.
2. Requests for advances will be made to the United States Department of State, through the United States Mission to the United Nations, over the signature of the Secretary-General or a duly authorized officer, and will bear certification as to whether the request is to cover payments by the United Nations which (a) have been made,
(b) are due and payable, or
(c) it is estimated will become due and payable within sixty days of the date of request,
Ante, p. 3725.and which are for purpose cited in Section 1 of the Agreement. The certification should cite the broad category of expense covered, and will be signed by the architect or engineer in charge of construction and countersigned by the Secretary-General or a duly authorized officer.
3. The Secretary-General or a duly authorized officer will sign a receipt for each payment received and will forward the receipt to the United States Department of State through the United States Mission to the United Nations.
4. The Secretary-General or a duly authorized officer will report periodically to the United States Department of State, through the United States Mission to the United Nations, on amounts which will be available for return to the Department as funds which have not been disbursed within ninety (90) days of their receipt. Return to the Department of State through the United States Mission to the United Nations will be effected within thirty (30) days after expiration of the ninety (90) day period.
Repayments.5. Repayments under the repayment schedule beginning July 1, 1951, will be made to the United States Department of State through the United States Mission to the United Nations and receipted for on behalf of the United States by the Secretary of State or his duly authorized representative.
6. Pending the appropriation by the Congress of the full amount of of the loan, advances will be limited to the twenty-five million dollars ($25,000,000.00) to be available to the Department under the Reconstruction Finance Corporation loan. The Secretary-General will be notified immediately when the funds are available to the Department and may be drawn upon by the United Nations.
It is understood that representatives of the Department of State are in consultation with officials of the United Nations regarding details of the documentation and, in particular, regarding the details of provision four above.
Certified photostatic copy:
For the Secretary-General,
Ivan Kerno
Assistant Secretary-General
in charge of the Legal Department
This work is in the public domain in the United States because it is a work of the United States federal government (see 17 U.S.C. 105).
Public domainPublic domainfalsefalse
- ↑ Aug. 30, 1948. See post, p. 3727.