
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 30USC1144]

 
                   TITLE 30--MINERAL LANDS AND MINING
 
 CHAPTER 24--GEOTHERMAL ENERGY RESEARCH, DEVELOPMENT, AND DEMONSTRATION
 
                     SUBCHAPTER II--LOAN GUARANTIES
 
Sec. 1144. Geothermal Resources Development Fund


(a) Establishment; purposes for which Fund moneys may be expended

    There is established in the Treasury of the United States a 
Geothermal Resources Development Fund, which shall be available to the 
head of the designated agency for carrying out the loan guaranty and 
interest assistance program authorized by this subchapter, including the 
payment of administrative expenses incurred in connection therewith. 
Moneys in the fund not needed for current operations may, with the 
approval of the Secretary of the Treasury, be invested in bonds or other 
obligations of, or guaranteed by, the United States.

(b) Deposits into the Fund

    There shall be paid into the fund the amounts appropriated pursuant 
to section 1164(c) of this title and such amounts as may be returned to 
the United States pursuant to section 1142(b) of this title, and the 
amounts in the fund shall remain available until expended, except that 
after the expiration of the ten-year period established by section 1143 
of this title, such amounts in the fund which are not required to secure 
outstanding guaranty obligations shall be paid into the general fund of 
the Treasury.

(c) Borrowing authority of Secretary of Energy

    If at any time the moneys available in the fund are insufficient to 
enable the Secretary of Energy to discharge his responsibilities under 
this subchapter he shall issue to the Secretary of the Treasury, notes 
or other obligations in such forms and denominations bearing such 
maturities, and subject to such terms and conditions, as 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 authorizations may be without 
fiscal year limitations. Redemption of such notes or obligations shall 
be made by the Secretary of Energy from appropriations or other moneys 
available under this section. Such 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 
chapter 31 of title 31, and the purposes for which securities may be 
issued under that chapter are extended to include any purchase of such 
notes or obligations. The Secretary of the Treasury may at any time sell 
any of the notes or other obligations acquired by him under this 
subsection. All redemptions, purchases, and sales by the Secretary of 
the Treasury of such notes or other obligations shall be treated as 
public debt transactions of the United States.

(d) Omitted

(Pub. L. 93-410, title II, Sec. 204, Sept. 3, 1974, 88 Stat. 1087; Pub. 
L. 95-91, title III, Sec. 301(a), title VII, Secs. 703, 707, Aug. 4, 
1977, 91 Stat. 577, 606, 607; Pub. L. 95-238, title V, Sec. 511, Feb. 
25, 1978, 92 Stat. 89.)

                          Codification

    In subsec. (c), ``chapter 31 of title 31'' and ``that chapter'' 
substituted for ``the Second Liberty Bond Act, as amended'' and ``that 
Act'', respectively, on authority of Pub. L. 97-258, Sec. 4(b), Sept. 
13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, 
Money and Finance.
    Subsec. (d) of this section, which required the head of the 
designated agency to submit annual reports to Congress on the operations 
of the fund, terminated, effective May 15, 2000, pursuant to section 
3003 of Pub. L. 104-66, as amended, set out as a note under section 1113 
of Title 31, Money and Finance. See, also, page 90 of House Document No. 
103-7.


                               Amendments

    1978--Subsecs. (c), (d). Pub. L. 95-238 added subsec. (c) and 
redesignated former subsec. (c) as (d).

                          Transfer of Functions

    ``Secretary of Energy'' substituted in subsec. (c) for 
``Administrator'' (meaning Administrator of Energy Research and 
Development Administration, see section 501(2) of Pub. L. 95-238, title 
V, Feb. 25, 1978, 92 Stat. 86), pursuant to sections 301(a), 703, and 
707 of Pub. L. 95-91, which are classified to sections 7151(a), 7293, 
and 7297 of Title 42, The Public Health and Welfare, and which 
terminated Energy Research and Development Administration and 
transferred its functions and functions of Administrator thereof (with 
certain exceptions) to Secretary of Energy.

                  Section Referred to in Other Sections

    This section is referred to in sections 1102, 1511, 1522, 1531 of 
this title.
