H.R. 3270 (103rd): 1995 Franklin Delano Roosevelt Commemorative Coin Act

103rd Congress, 1993–1994. Text as of Oct 13, 1993 (Introduced).

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HR 3270 IH

103d CONGRESS

1st Session

H. R. 3270

To require the Secretary of the Treasury to mint coins in commemoration of Franklin Delano Roosevelt on the occasion of the 50th Anniversary of the death of President Roosevelt.

IN THE HOUSE OF REPRESENTATIVES

October 13, 1993

Mr. FISH (for himself, Mr. HINCHEY, Mr. DARDEN, and Ms. MOLINARI) introduced the following bill; which was referred to the Committee on Banking, Finance and Urban Affairs


A BILL

To require the Secretary of the Treasury to mint coins in commemoration of Franklin Delano Roosevelt on the occasion of the 50th Anniversary of the death of President Roosevelt.

    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 ‘1995 Franklin Delano Roosevelt Commemorative Coin Act’.

SEC. 2. FINDINGS.

    The Congress finds that--

      (1) the people of the United States feel a deep debt of gratitude to Franklin Delano Roosevelt for his leadership in America’s struggle for peace, well-being, and human dignity;

      (2) the year 1995 marks the 50th anniversary of the death of President Franklin Delano Roosevelt, who died April 12, 1945, in Warm Springs, Georgia;

      (3) Franklin Delano Roosevelt served his country as the 32d President from 1932 until his death in 1945. He is the only United States President elected to four terms in office;

      (4) Franklin Delano Roosevelt served the State of New York as Governor from 1928 through 1932;

      (5) Franklin Delano Roosevelt served his country as the United States Assistant Secretary of the Navy from 1913 through 1920;

      (6) Franklin Delano Roosevelt piloted the American people through the economic chaos of the Great Depression;

      (7) Franklin Delano Roosevelt, as our commander in chief, led the American people through the turmoil of World War II;

      (8) Franklin Delano Roosevelt established Social Security, thus providing all Americans with a more abundant and secure life;

      (9) Franklin Delano Roosevelt was the author of ‘The Four Freedoms: Freedom of Speech, Freedom of Worship, Freedom from Want, and Freedom from Fear’;

      (10) Franklin Delano Roosevelt was the founder of the National Foundation for Infantile Paralysis, parent organization of the March of Dimes; and

      (11) Franklin Delano Roosevelt was the chief architect of the United Nations.

SEC. 3. COIN SPECIFICATIONS.

    (a) ONE DOLLAR SILVER COINS-

      (1) ISSUANCE- The Secretary shall issue not more than 500,000 one dollar coins which shall weigh 26.73 grams, have a diameter of 1.500 inches, and shall contain 90 percent silver and 10 percent copper.

      (2) DESIGN- The design of the dollar coins shall bear a likeness of Franklin Delano Roosevelt. On each such coin there shall be a designation of the value of the coin, an inscription of the year ‘1995’, and inscriptions of the terms ‘Liberty’, ‘In God We Trust’, ‘United States of America’, and ‘E Pluribus Unum’.

      (3) ALTERATIONS- Additions or alterations to the design of the coin shall be made only after consultation with, and approval by, the Franklin Delano Roosevelt Memorial Commission.

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

    (c) NUMISMATIC ITEMS- The coins issued under this Act shall be numismatic items for purposes of section 5134 of title 31, United States Code.

SEC. 4. SOURCES OF BULLION.

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

SEC. 5. SELECTION OF DESIGN.

    The design for each coin authorized by this Act shall be selected by the Secretary after consultation with the Franklin Delano Roosevelt Memorial Commission.

SEC. 6. SALE OF COINS.

    (a) SALE PRICE- Notwithstanding any provision of law, the coins issued under this Act shall be sold by the Secretary at a price equal to the face value, plus the cost of designing and issuing such coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).

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

    (c) SURCHARGE REQUIRED- All sales shall include a surcharge of $10 per coin.

SEC. 7. ISSUANCE OF THE COINS.

    (a) PERIOD FOR ISSUANCE- The coins authorized under this Act shall be available for issue not later than January 1, 1995, but shall be issued only during the 1-year period beginning on such date.

    (b) PROOF AND UNCIRCULATED COINS- The coins authorized under this Act shall be issued in uncirculated and proof qualities. Not more than 1 facility of the Bureau of the Mint may be used to strike any particular combination of denomination and quality.

SEC. 8. 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 or services required to carry out 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. 9. DISTRIBUTION OF SURCHARGES.

    The surcharges received by the Secretary from the sale of the coins issued under this Act shall be promptly paid by the Secretary in the following manner:

      (1) An amount equal to 50 percent of the total surcharges shall be paid to the National Park Foundation Restricted Account for the Franklin Delano Roosevelt Memorial.

      (2) An amount equal to 50 percent of the total surcharges shall be paid to the National Park Service Restricted Construction Account for the Franklin Delano Roosevelt Memorial.

SEC. 10. AUDITS.

    The Comptroller General of the United States shall have the right to examine such books, records, documents, and other data of the account referred to in section 9 as may be related to the expenditure of amounts paid under such section.

SEC. 11. FINANCIAL ASSURANCES.

    (a) NO NET COST TO THE GOVERNMENT- The Secretary shall take such actions as may be necessary to ensure that the minting and issuance of the coins referred to in section 3 shall not result in any net cost to the Federal Government.

    (b) PAYMENT FOR ISSUANCE OF COINS- No coin shall be issued under this Act unless the Secretary has received--

      (1) full payment for such 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 Deposit Insurance Corporation or the National Credit Union Administration.