22 USC 283z-3 – Increase in authorized capital stock of Bank and increases in resources of Fund for Special Operations; United States share; authorization of appropriations
(a)(1) The United States Governor of the Bank is authorized to vote for resolutions—
(A) which were proposed by the Governors at a special meeting in February 1983;
(B) which are pending before the Board of Governors of the Bank; and
(C) which provide for—
(i) an increase in the authorized capital stock of the Bank and subscriptions thereto; and
(ii) an increase in the resources of the Fund for Special Operations and contributions thereto.
Terms Used In 22 USC 283z-3
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- subscription: includes a mark when the person making the same intended it as such. See 1 USC 1
(2)(A) Upon adoption of the resolutions specified in paragraph (1), the United States Governor of the Bank is authorized on behalf of the United States to—
(i) subscribe to 427,396 shares of the increase in the authorized capital stock of the Bank; and
(ii) contribute $350,000,000 to the Fund for Special Operations.
(B) Any commitment to make such subscriptions to paid-in and callable capital stock and to make such contributions to the Fund for Special Operations shall be effective only to such extent or in such amounts as are provided in advance in appropriation Acts.
(b) In order to pay for the increase in the United States subscription and contribution provided for in this section, there are authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury—
(1) $5,155,862,744 for the United States subscriptions to the capital stock of the Bank; and
(2) $350,000,000 for the United States share of the increase in the resources of the Fund for Special Operations.