U.S. Code, Title 20, Education

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Author: "U.S. Congress, Office of the Law Revision Counsel"

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§ 5606. Establishment of Morris K. Udall Scholarship and Excellence in National Environmental Policy Trust Fund

(a) Establishment of Trust Fund

     There is established in the Treasury of the United States a trust fund to be known as the "Morris K. Udall Scholarship and Excellence in National Environmental Policy Trust Fund" to be administered by a Foundation. The Trust Fund shall consist of amounts appropriated to it pursuant to section 5609(a) of this title and amounts credited to it under subsection (b) of this section.

(b) Investment of Trust Fund assets

     (1) 1In general.—It shall be the duty of the Secretary of the Treasury to invest, at the direction of the Foundation Board, in full the amounts appropriated to the Trust Fund. Such investments shall be in public debt securities with maturities suitable to the needs of the Trust Fund. Investments in public debt securities shall bear interest "at rates determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding marketable obligations of the United States" of comparable maturity.

1 So in original. No par. (2) has been enacted.

(Pub. L. 102–259, § 8, Mar. 19, 1992, 106 Stat. 82; Pub. L. 105–156, § 9, Feb. 11, 1998, 112 Stat. 12.)

Amendments

     1998—Subsec. (a). Pub. L. 105–156, § 9(a), substituted "The Trust Fund" for "The fund" and "5609(a)" for "5609".

     Subsec. (b). Pub. L. 105–156, § 9(b), substituted "Trust Fund" for "Fund" in two places.

Section Referred to in Other Sections

     This section is referred to in sections 5602, 5607a of this title.

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