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The Secretary of the Treasury is authorized and directed to receive into the Treasury from time to time as a permanent loan by the Board of Trustees of the National Gallery of Art to the United States sums in cash of not to exceed $5,000,000 in the aggregate, and to pay interest on the principal amount of such loan at a rate which is the higher of the rate of 4 per centum per annum or a rate which is .25 percentage points less than a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding long-term marketable obligations of the United States, adjusted to the nearest one-eighth of 1 per centum, payable semiannually. Such interest is permanently appropriated for payment to the Board of Trustees of the National Gallery of Art.
Cite this article: FindLaw.com - 20 U.S.C. § 74a - U.S. Code - Unannotated Title 20. Education § 74a. Permanent loan of funds by Board of Trustees to Treasury; semiannual interest payments to Board - last updated January 01, 2018 | https://codes.findlaw.com/us/title-20-education/20-usc-sect-74a/
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