76
STAT.]
PUBLIC
LAW 87-847-OCT. 23, 1962
1117
TITLE III SEC. 301. If any provision of this Act, or the application thereof to any person or circumstances, shall be held invalid, the remainder of this Act, or the application of such provisions to other persons or circumstances, shaft not be affected. Approved October 22, 1962.
Public Law 87-847 AN ACT
October 23, 1962
To amend the Federal Property and Administrative Services Act of 1949, as amended, to provide for a Federal telecommunications fund.
[H. R. U899]
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That title I of the Federal teieFederal Property and Administrative Services Act of 1949 (63 Stat, c^munications. 377), as amended, is hereby amended by adding a new section to read "s use eaog. as follows: "SEC. 110. There is hereby authorized to be established on the books of the Treasury, a Federal telecommunications fund, which shall be available without fiscal year limitation for expenses, including personal services, other costs, and the procurement by lease or purchase of equipment and operating facilities (including cryptographic devices) necessary for the operation of a Federal telecommunications system, to provide local and long distance voice, teletype, data, facsimile, and other communication services. There are authorized to be appropriated to said fund such sums as may be required which, together with the value, as determined by the Administrator, of supplies and equipment from time to time transferred to the Administrator under authority of section 205(f), less any liabilities assumed, es Stat. 389. shall constitute the capital of the fund: Provided,, That said fund ^^ ^^^ ^^^shall be credited with (1) advances and reimbursements from available appropriations and funds of any agency (including the General Services Administration), organization, or persons for telecommunication services rendered and facilities made available thereto, at rates determined by the Administrator to approximate the costs thereof met by the fund (including depreciation of equipment, provision for accrued leave, and where appropriate, for terminal liability charges and for amortization of installation costs, but excluding, in the determination of rates prior to the fiscal year 1966, such direct operating expenses as may be directly appropriated for, which expenses may be charged to the fund and covered by advances or reimbursements from such direct appropriations) and (2) refunds or recoveries resulting from operations of the fund, including the net proceeds of disposal of excess or surplus personal property and receipts from carriers and others for loss of or damage to property: Provided further,, That following the close of each fiscal year any net income, after making provision for prior year losses, if any, shall be transferred to the Treasury of the United States as miscellaneous receipts." Approved October 23, 1962.
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