[USC02] 43 USC 2623: Additional sum from surplus for meeting payments due from insufficient annual receipts; maximum aggregate of decennial payments; covering of excess receipts into general fund of Treasury
Result 1 of 1
   
 
43 USC 2623: Additional sum from surplus for meeting payments due from insufficient annual receipts; maximum aggregate of decennial payments; covering of excess receipts into general fund of Treasury Text contains those laws in effect on April 22, 2021
From Title 43-PUBLIC LANDSCHAPTER 44-OREGON AND CALIFORNIA RAILROAD AND COOS BAY WAGON ROAD GRANT LANDSSUBCHAPTER II-DISPOSITION OF FUNDS

§2623. Additional sum from surplus for meeting payments due from insufficient annual receipts; maximum aggregate of decennial payments; covering of excess receipts into general fund of Treasury

If, during any one year, 75 per centum of the receipts are insufficient fully to meet the payments due the counties hereunder, the Secretary of the Treasury, upon certification by the Secretary of the Interior, may pay an additional sum from any surplus of 75 per centum of prior year receipts: Provided, however, That in no event shall the aggregate of payments during any ten-year period commencing with the period beginning July 1, 1940, exceed 75 per centum of the receipts deposited in the Treasury to the credit of the Coos Bay Wagon Road grant fund for such period: Provided further, That at the end of each ten-year period, any balance of the 75 per centum not required for payments to the counties shall be covered into the general fund of the Treasury of the United States.

(May 24, 1939, ch. 144, §3, 53 Stat. 754 .)


Editorial Notes

Codification

Section was formerly classified to section 1181f–3 of this title prior to editorial reclassification and renumbering as this section.