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Text of the United Services Organization’s 50th Anniversary Commemorative Coin Act

This bill was enacted after being signed by the President on October 2, 1990. The text of the bill below is as of Oct 2, 1990 (Passed Congress/Enrolled Bill).

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Source: GPO

H.R.2761

One Hundred First Congress of the United States of America

AT THE SECOND SESSION

Begun and held at the City of Washington on Tuesday, the twenty-third day of January,

one thousand nine hundred and ninety

An Act

To require the Secretary of the Treasury to mint coins in commemoration of the 50th

anniversary of the United Services Organization.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘United Services Organization’s 50th Anniversary Commemorative Coin Act’.

SEC. 2. USO COMMEMORATIVE COINS.

    The Secretary of the Treasury (hereafter in this Act referred to as the ‘Secretary’) shall mint and issue coins in accordance with this Act to commemorate the 50th anniversary of the United Services Organization (hereafter in this Act referred to as the ‘USO’).

SEC. 3. SPECIFICATIONS OF COINS.

    (a) IN GENERAL- The Secretary shall mint and issue not more than 1,000,000 one dollar silver coins, each of which shall--

      (1) weigh 26.73 grams;

      (2) have a diameter of 1.500 inches; and

      (3) be composed of 90 percent silver and 10 percent copper.

    (b) LEGAL TENDER- The coins minted under this Act shall be legal tender as provided in section 5103 of title 31, United States Code.

    (c) NUMISMATIC ITEMS- For purposes of section 5132(a)(1) of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.

SEC. 4. SOURCES OF BULLION.

    The Secretary shall obtain silver for minting coins under this Act only from stockpiles established under the Strategic and Critical Minerals Stock Piling Act (50 U.S.C. 98 et seq.).

SEC. 5. DESIGN OF COINS.

    (a) IN GENERAL- The design of the coins shall, in accordance with subsection (b), be emblematic of the services provided by the USO to military service personnel and families. Each coin shall bear a designation of the value of the coin, an inscription of the year ‘1991’, and inscriptions of the words ‘Liberty’, ‘In God We Trust’, ‘United States of America’, and ‘E Pluribus Unum’.

    (b) SELECTION- The design for each coin authorized by this Act shall be selected by the Secretary after consultation with the President of the USO and the United States Commission of Fine Arts.

SEC. 6. ISSUANCE OF COINS.

    (a) QUALITY OF COINS- Coins minted under this Act may be issued in uncirculated and proof qualities.

    (b) MINT FACILITY- Not more than 1 facility of the Bureau of the Mint may be used to strike any particular quality of the coins minted under this Act.

    (c) PERIOD OF ISSUANCE- The Secretary may issue the coins minted under this Act during the 1-year period beginning at the end of the 6-month period beginning on the date of the enactment of this Act.

    (d) CONTRACT CONSULTATION- A contract involving the promotion, advertising, or marketing of coins authorized under this Act may be made by the Secretary after consultation with the President of the USO.

SEC. 7. SALE OF COINS.

    (a) IN GENERAL- The Secretary shall sell the coins minted under this Act at a price equal to the face value, plus the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, and overhead expenses).

    (b) BULK SALES- The Secretary shall make any bulk sales of the coins minted under this Act at a reasonable discount.

    (c) PREPAID ORDERS AT A DISCOUNT- The Secretary shall accept prepaid orders for the coins minted under this Act prior to the issuance of such coins. Sales under this subsection shall be at a reasonable discount.

    (d) SURCHARGES- All sales of coins minted under this Act shall include a surcharge of $7 per coin.

SEC. 8. FINANCIAL ASSURANCES.

    (a) NO NET COST TO GOVERNMENT- The Secretary shall take such actions as may be necessary to ensure that minting and issuing coins under this Act will not result in any net cost to the Federal Government.

    (b) PAYMENT FOR COINS- A coin shall not be issued under this Act unless the Secretary has received--

      (1) full payment for the coin;

      (2) security satisfactory to the Secretary to indemnify the United States for full payment; or

      (3) a guarantee of full payment satisfactory to the Secretary from a depository institution whose deposits are insured by the Federal Government.

SEC. 9. USE OF SURCHARGES.

    (a) IN GENERAL- Surcharges received from the sale of coins minted under this Act and deposited in the coinage profit fund under section 12 shall be used as follows:

      (1) USO PROGRAMS- 50 percent shall be promptly paid to the USO. Such amounts shall be used by the USO to fund programs, including airport centers, fleet centers, family and community centers, and celebrity entertainment.

      (2) REDUCTION OF NATIONAL DEBT- 50 percent shall be transferred to the general fund of the Treasury for the sole purpose of reducing the national debt.

    (b) AUDIT- The Comptroller General of the United States shall have the right to examine the books, records, documents, and other data of the USO that relate to the expenditure of amounts paid under subsection (a).

SEC. 10. REPORT TO CONGRESS.

    The Secretary shall submit to the Congress semiannual reports regarding the activities carried out under this Act. The first report shall be submitted at the end of the 1-year period beginning on the date of the enactment of this Act and the last report shall be submitted not later than 6 months after the Secretary ceases to issue coins minted under this Act.

SEC. 11. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    (a) IN GENERAL- Except as provided in subsection (b), no provision of law governing procurement or public contracts shall be applicable to the procurement of goods and services necessary for carrying out the provisions of this Act.

    (b) EQUAL EMPLOYMENT OPPORTUNITY- Subsection (a) shall not relieve any person entering into a contract under the authority of this Act from complying with any law relating to equal employment opportunity.

SEC. 12. COINAGE PROFIT FUND.

    (a) DEPOSITS- All amounts received from the sale of coins issued under this Act shall be deposited in the coinage profit fund.

    (b) PAYMENTS- The Secretary shall pay the amounts authorized under section 9 from the coinage profit fund.

    (c) EXPENDITURES- The Secretary shall charge the coinage profit fund with all expenditures under this Act.

Speaker of the House of Representatives.

Vice President of the United States and

President of the Senate.