PUBLIC LAW 95-238—FEB. 25, 1978
92 STAT. 93
when conducting the demonstrations established under section 7, the Administrator may acquire or secure use of such vehicles, or have such vehicles acquired or used by others, by making agreements and utilizing various forms of Federal assistance and participation which is authorized under the Energy Reorganization Act of 1974 (Public Law 93-438) and the Federal Nonnuclear Energy Research and 42 USC 5801 note. Development Act of 1974 (Public Law 93-577). "(e) When contracting and otherwise using Federal funds to con- 42 USC 5901 note. duct demonstrations under this Act, the Administrator shall seek costsharing with others to the maximum extent practical. During the first 2 years of demonstration activities the Administrator may enter into pi-ocurement or lease contracts for purposes of carrying out demonstrations under this Act without regard to the provisions of title III of the Act of March 3, 1933 (47 Stat. 1520; 41 U.S.C. IQa-lOc).". SEC. 603. (a)(1) Section 10(e) of the Electric and Hybrid Vehicle Loan Guarantee!). Research, Development, and Demonstration Act of 1976 (15 U.S.C. Electric and Hybrid Vehicle 2509 (e)) is amended by adding at the end thereof: Development "(3)(A) There is established in the Treasury of the United States Fund. an Electric and Hybrid Vehicle Development Fund (hereinafter in Establishment. this paragraph referred to as the 'fund'), which shall be available to the Administrator for carrying out the loan guarantee and principal and interest assistance program authorized by this Act, including the payment of administrative expenses incurred in connection therewith. Moneys in the fund not needed for current operations may, with the Investments. approval of the Secretary of the Treasury, be invested in bonds or other obligations of, or guaranteed by, the United States. "(B) There shall be paid into the fund such part of the amounts appropriated pursuant to section 16 as the Administrator deems nec- 15 USC 2514. essary to carry out the purposes of this Act and such amounts as may be returned to the United States pursuant to subsection (g) of this section, and the amounts in the fund shall remain available until expended, except that after the expiration of the 7-year period established by subsection (h) of this section such amounts in the fund as are not required to secure outstanding guarantee obligations shall be paid into the general fund of the Treasury. "(C) If at any time the moneys available in the fund are insufficient Notes or to enable the Administrator to discharge his responsibilities under this obligations, section, he shall issue to the Secretary of the Treasury notes or other issuance to obligations in such forms and denominations, bearing such maturities^ Treasury. and subject to such terms and conditions os may be prescribed by the Secretary of the Treasury. This borrowing authority shall be effective only to such extent or in such amounts as are specified in appropriation Acts. Such authority shall be without fiscal year limitation. Redemp- Redemption. tion of such notes or obligations shall be made by the Administrator from appropriations or other moneys available under this Act. Such Interest rate. notes or other obligations shall bear interest at a rate determined by the Secretary of the Treasury, which shall not be less than a rate determined by taking into consideration the average market yield on outstanding marketable obligations of the United States of comparable maturities during the month preceding the issuance of the notes or other obligations. The Secretary of the Treasury shall purchase any notes or other obligations issued hereunder and for that purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under 31 USC 774. that Act are extended to include any purchase of such notes or obligations. The Secretary of the Treasury may at any time sell any of the Sale.