Page:United States Statutes at Large Volume 105 Part 1.djvu/727

From Wikisource
Jump to: navigation, search
This page needs to be proofread.

PUBLIC LAW 102-138—OCT. 28, 1991 105 STAT. 699 (1) by striking out "Of the funds authorized to be appropriated by section 221 for each of the fiscal years 1990 and 1991," and inserting in lieu thereof "Of funds made available to the Bureau of Education and Cultural Affairs to carry out the Mutual Educational and Cultural Exchange Act of 1961, for each of the fiscal years 1992 and 1993"; and (2) by striking out "shall" each place it appears and inserting in lieu thereof "are authorized to". SEC. 225. EASTERN EUROPE STUDENT EXCHANGE ENDOWMENT FUND. 22 USC 2452 (a) ESTABLISHMENT OF FEDERAL ENDOWMENT.—The Director of the United States Information Agency is authorized to establish an endowment fund (hereafter in this section referred to as the "fund"), in accordance with the provisions of this section, to support an exchange program among secondary school students from the United States and secondary school students from former Warsaw Pact countries in Eastern Europe, including from the territory formerly known as East Germany. The Director may enter into such agreements as may be necessary to carry out the purposes of this section. (b) TRANSFER.— (1) APPROPRIATIONS AND OTHER AVAILABLE FUNDS.— The Director shall transfer to the fund the amounts appropriated pursuant to the authority of subsection (f) to carry out the exchange program under this section. (2) GIFTS. —(A) The Director is authorized to accept, use, and dispose of gifts of donations of services or property to carry out the provisions of this section. (B) Any sums received by the Director pursuant to subparagraph (A) shall be transferred to the fund. (3) IN GENERAL.— The Director in investing the corpus and income of the fund, shall exercise the judgment and care, under the prevailing circumstances, which a person of prudence, discretion, and intelligence would exercise in the management of that person's own business affairs. (4) SPECIAL RULE.— The fund corpus and income shall be invested in federally insured bank savings accounts or comparable interest bearing accounts, certificates of deposit, money market funds, mutual funds, obligations of the United States, or other low-risk instruments and securities. (c) WITHDRAWALS AND EXPENDITURES.—The Director may withdraw or expend amounts from the fund for any expenses necessary to carry out the exchange program described in subsection (a). (d) DEFINITIONS. —For the purposes of this section— (1) the term "secondary school" has the same meaning given to such term by section 1471(21) of the Elementary and Secondary Education Act of 1965; and (2) the term "Director" means the Director of the United States Information Agency. (e) AUTHORIZATION OF APPROPRIATIONS.—T here are authorized to be appropriated $1,000,000 to carry out the provisions of this section. Funds appropriated pursuant to this subsection are authorized to be available until expended. SEC. 226. ENHANCED EDUCATIONAL EXCHANGE PROGRAM. 22 USC 2452 (a) PROGRAMS FOR FOREIGN STUDENTS AND SCHOLARS. — ^°^'