H.R. 2761 (101st): United Services Organization’s 50th Anniversary Commemorative Coin Act

101st Congress, 1989–1990. Text as of Oct 02, 1990 (Passed Congress/Enrolled Bill).

Status & Summary | PDF | Source: GPOStatutes at Large

PUBLIC LAW 101-404—OCT. 2, 1990                                   104 STAT. 875

Public Law 101-404
101st Congress
                                    An Act
To require the Secretary of the Treasury to mint coins in commemoration of the 50th      Oct. 2,1990
                  anniversary of the United Services Organization.                       [H.R. 2761]
 Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,                                        United Services
                                                                                       Organization's
SECTION 1. SHORT TITLE.                                                                50th
                                                                                       Anniversary
 This Act may be cited as the "United Services Organization's 50th                     Commemorative
Anniversary Commemorative Coin Act".                                                   Coin Act.
                                                                                       31 u s e 5112
SEC. 2. USO COMMEMORATIVE COINS.                                                       note.
  The Secretary of the Treasury (hereafter in this Act referred to as                  31 u s e 5112
the "Secretary") shall mint and issue coins in accordance with this                    note.
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.                                                       31 u s e 5112
  (a) IN GENERAL.—The Secretary shall mint and issue not more note.
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.
  Ot)) 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(aXl) of title
31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
SEC. 4. SOURCES OF BULLION.                                                            Silver.
  The Secretary shall obtain silver for minting coins under this Act                   31 u s e 5112
only from stockpiles established under the Strategic and Critical                      note.
Minerals Stock Piling Act (50 U.S.C. 98 et seq.).
SEC. 5. DESIGN OF COINS.                                                               31 u s e 5112
                                                                                       note.
  (a) I N 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 Presi-
dent of the USO and the United States Commission of Fine Arts.
SEC. 6. ISSUANCE OF COINS.                                                             31 u s e 5112
                                                                                       note.
  (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.




    49-139 O - 90 (404)

104 STAT. 876 PUBLIC LAW 101-404—OCT. 2, 1990 (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 pro- motion, advertising, or marketing of coins authorized under this Act may be made by the Secretary after consultation with the President oftheUSO. 31 u s e 5112 SEC. 7. SALE OF COINS. (a) I N 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. 31 u s e 5112 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 tlus Act will not result in any net cost to the Federsd G<)vemment. Ot)) 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 pajnnent; or (3) a guarantee of full pa5mient satisfactory to the Secretary from a depository institution whose deposits are insured by the Federal Government. 31 u s e 5112 SEC. 9. USE OF SURCHARGES. (a) I N 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 OP NATIONAL DEBT.—50 percent shall be trans- ferred to the general fund of the Treasury for the sole purpose of reducing the national debt. db) 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). 31 u s e 5112 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
PUBLIC LAW 101-404—OCT. 2, 1990 104 STAT. 877 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. 31 USC 5112 (a) I N GENERAL.—Except as provided in subsection (b), no provi- sion of law governing procurement or public contracts shall be applicable to the procurement of goods and services necessary for carr3dng 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. 31 USC 5112 (a) DEPOSITS.—All amounts received from the sale of coins issued under this Act shall be deposited in the coinage profit fund, Ob) 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. Approved October 2, 1990. LEGISLATIVE HISTORY—H.R. 2761: CONGRESSIONAL RECORD, Vol. 136 (1990): May 15, considered and passed House. Sept. 20, considered and passed Senate.