The Administrator shall seek to enter into an agreement with the National Fish and
Wildlife Foundation (in this section referred to as the “Foundation”), authorizing
the Foundation to receive, hold, and administer funds received under this section.
The Foundation shall establish an account, to be known as the “Coral Reef Disaster
Fund” (in this section referred to as the “Fund”).
The Foundation shall deposit funds received under this section into the Fund.
The Fund shall be available solely to support the long-term recovery of coral reefs
from exigent circumstances described in section 6408(b) of this title--
(A) in partnership with non-Federal stakeholders; and
(B) in a manner that is consistent with--
(i) the National Coral Reef Resilience Strategy; and
(ii) coral reef action plans in effect, if any, under section 6404 of this title.
(4)Investment of amounts
(A)Investment of amounts
The Foundation shall invest such portion of the Fund as is not required to meet current
withdrawals in interest-bearing obligations of the United States or in obligations
guaranteed as to both principal and interest by the United States.
(B)Interest and proceeds
The interest on, and the proceeds from, the sale or redemption of, any obligations
held in the Fund shall be credited to and form a part of the Fund.
(5)Review of performance
The Administrator shall conduct continuing reviews of all deposits into, and disbursements
from, the Fund. Each such review shall include a written assessment concerning the extent to which
the Foundation has implemented the goals and requirements of this section.
(c)Authorization to solicit donations
Pursuant to an agreement entered into under subsection (a), the Foundation may accept,
receive, solicit, hold, administer, and use any gift (including, notwithstanding section 1342 of Title 31, donations of services) to further the purposes of this chapter.
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