Page:United States Statutes at Large Volume 74.djvu/961

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[74 Stat. 921]
[74 Stat. 921]
PUBLIC LAW 86-000—MMMM. DD, 1960

74 S T A T. ]

PUBLIC LAW

8 6 - 7 7 7 - S E P T. 13, 1960

921

Purcha by "SEC. 6, (a) The Department of Defense, the Atomic Energy Com- Governments eagenmission^and other agencies of the Federal Government, to the extent c i e s. that supplies are readily available, shall purchase all major requirements of helium from the Secretary. "(b) The Secretary is authorized to sell helium for Federal, medi- Sale. cal, scientific, and commercial uses in such quantities and under such terms and conditions as he determines. "(c) Sales of helium by the Secretary shall be at prices established P^ces by him which shall be adequate to cover all costs incurred in carrying out the provisions of this Act and to repay to the United States by deposit in the Treasury, together with interest as provided in subsection (d) of this section, the following: "(1) Within twenty-five years from the date of enactment of the Helium Act Amendments of 1960, the net capital and retained earnings of the helium production fund (established under section 3 of this Act prior to amendment by the Helium Act Amendments of 1960), determined by the Secretary as of such date of enactment, plus any moneys expended thereafter by the Department of the Interior from funds provided in the Supplemental Appropriation Act, 1959, for construction of a helium plant at 72 Stat. 864. Keyes, Oklahoma; "(2) Within twenty-five years from the date of borrowing, all funds borro"wed, as provided in section 12 of this Act, to acquire and construct helium plants and facilities; and "(3) Within twenty-five years from the date of enactment of the Helium Act Amendments of 1960, unless the Secretary determines that said period should be extended for not more than ten years, all funds borrowed, as provided in section 12 of this Act, for all purposes other than those specified in clause (2) above. " (d) Compound interest on the amounts specified in clauses (1), (2), and (3) of subsection (c) which have not been paid to the Treasury shall be calculated annually at rates determined by the Secretary of the Treasury taking into consideration the current average market yields of outstanding marketable obligations of the United States having maturities comparable to the investments authorized by this Act, except that the interest rate on the amounts specified in clause (1) of subsection (c) shall be determined as of the date of enactment of the Helium Act Amendments of 1960, and the interest rate on the obligations specified in clauses (2) and (3) of subsection (c) as of the time of each borrowing. "(e) Helium shall be sold for medical purposes at prices which Medical will permit its general use therefor; and all sales of helium to non- p o s e s. Federal purchasers shall be upon condition that the Federal Government shall have a right to repurchase helium so sold that has not been lost or dissipated, when needed for Government use, under terms and at prices established by regulations. " (f) All moneys received under this Act, including moneys from Production fund. sale of helium or other products resulting from helium operations and from the sale of excess property shall be credited to the helium production fund, which shall be available without fiscal year limitation, for carrying out the provisions of this Act, including any research relating to helium carried out by the Department of the Interior. Amounts accumulating in said fund in excess of amounts the Secretary deems necessary to carry out this Act and contracts negotiated hereunder shall be paid to the Treasury and credited against the amounts required to be repaid to the Treasury under subsection (c) of this section. "SEC. T. The Secretary of Defense and the Chairman of the Atomic Energy Commission may each designate representatives to cooperate