4
Scction 302.—The government of Guamis hard-pressed to meet its
financial obligations. In 1963, 1 Federal loan was granted to Guamto
offset both typhoon and World War IT damage. This section eliminates
future interest payments on the loan and credits interest payments
made to date towards the principal.
Section 303.—Upon guarantee of the Secretary of the Interior, the
Federal Financing Bank, under previous legislation, is authorized to
lend the Guam Power Authority up to $36 million to cover obligations
due in 1976. Payments due will be deducted from Guam Organic Act
Section 30 fundsif GPA fails to pay.
TITLE IV—-VINGIN ISLANDS
Section 401.—This section extends the Federal guarantee of bonds
issued by the Virgin Islands from 1979to 1089.
Section 4£02.~-Vhis section directs the Secretary of the Treasury to
administer and enforce beginning January 1, 1980, the collection of all
customs duties and income tax in the Virgin Islands. Additionally, the
Secretary is directed to adniunister any local tax upon request of the
Governor.
Section 403.—Title to some small parcels of land is conveyed from
the U.S. Governmentto the VI government.
Section. JO4-—The master lease on Water Island in the VirginIslands cannot be extended, renewed or renegotiated before 1992 without
the express consent of the House Committee on Interior and Insular
Affairs and the Senate Committee on Hnergy and Natural Resources.
Section {05.—Section 4 of Public Law 95-348 is amended to correct
a situation involving customs collections in the Virgin Islands.
TITLE V-—-AMERICAN SAMOA
Section 501.-—-The salary of the comptroller for American Samoa
is currently paid for by the Department of the Interior under an
executive agreement. This section sunply makes this a matter of Jaw.
Section 502.—The Secretary of the Treasury, upon the request of
the Governor of American Samoa, is directed to administer and enforce the collection of customs duties in American Samoa at no
cost to the American Samoa Government.
TITLE VI—SUSCELLANEOUS
Section 60/.—Under this section, all provisions of Title V of Public Law 95-154 must be complied with by the Department of Interior
as far as the insular areas go. Title V covers consolidation of funds
forthese areas.
Section G02.—Any amounts not appropriated in a given fiscal year
will remain available in succeeding fiscal years.
"
Any moncy appropriated for a fiscal year but not expended shall
remain available for expenditure in future yerrs.
Section G03-—This section provides that any U.S. agencies that
provide services, facilities or equipment to the government of an
mistar area ean be direetly renmbursed by that insular government.
ment.
ait
wt,
Section G04.—This is lanvuage required under the Budget Act.
Section 609.—This is language required under the Budget Act.
we ee