Guam and the Northern Marianas Commemorative Coin Act

Summary: Guam and the Northern Marianas Commemorative Coin Act - Directs the Secretary of the Treasury to issue one-dollar coins emblematic of the American forces that liberated Guam and the Northern Mariana Islands in World War II. 
Requires payment of surcharges received from the coin sales to the Secretary of the Interior to construct a visitors center and museum at:  (1) the War in the Pacific National Historical Park on Guam; and (2) the American Memorial Park on Saipan.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Guam and the Northern Marianas 
Commemorative Coin Act''.

SEC. 2. COIN SPECIFICATIONS.

    (a) Issuance.--The Secretary of the Treasury (hereafter in this Act 
referred to as the ``Secretary'') shall issue not more than 1,500,000 
one dollar coins which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches; and
            (3) contain 90 percent silver and 10 percent copper.
    (b) Design.--The design of the coins authorized under subsection 
(a) shall be emblematic of the heroism of the American forces that 
liberated Guam and the Northern Mariana Islands in World War II. On 
each such coin there shall be a designation of the value of the coin, 
an inscription of the years ``1944-1994'', and inscriptions of the 
words ``Mariana Islands'', ``Liberty'', ``In God We Trust'', ``United 
States of America'', and ``E Pluribus Unum''.
    (c) Legal Tender.--The coins issued under this Act shall be legal 
tender as provided in section 5103 of title 31, United States Code.
    (d) Numismatic Items.--The coins issued under this Act shall be 
considered numismatic items for purposes of section 5134 of title 31, 
United States Code.

SEC. 3. SOURCES OF BULLION.

    The Secretary shall obtain silver for the coins minted under this 
title from stockpiles established under the Strategic and Critical 
Minerals Stock Piling Act.

SEC. 4. SELECTION OF DESIGN.

    The design for each coin authorized under this Act shall be 
selected by the Secretary after consultation with the Delegate from 
Guam to Congress and the Resident Representative of the Commonwealth of 
the Northern Mariana Islands.

SEC. 5. SALE OF COINS.

    (a) Sale Price.--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), and the 
surcharge provided for in subsection (d).
    (b) Bulk Sales.--The Secretary shall make bulk sales at a 
reasonable account.
    (c) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins issued under this Act prior to the issuance of such coins. 
Sales under this subsection shall be at a reasonable discount.
    (d) Surcharge Required.--All sales of coins issued under this Act 
shall include a surcharge of $10 per coin.

SEC. 6. USE OF SURCHARGES.

    The surcharges received by the Secretary from the sale of the coins 
issued under this Act shall be made available or paid to the Secretary 
of the Interior for the following purposes:
            (1) Amounts to be made available for the construction of a 
        visitors center and museum on guam.--The Secretary of the 
        Treasury shall make available to the Secretary of the Interior 
        all funds from such surcharges as may be necessary to construct 
        a visitors center and museum at the War in the Pacific National 
        Historical Park on Guam.
            (2) Amounts to be made available for the construction of a 
        visitors center and museum on saipan.--The Secretary of the 
        Treasury shall make available to the Secretary of the Interior 
        all funds from such surcharges as may be necessary to construct 
        a visitors center and museum at the American Memorial Park on 
        Saipan.

SEC. 7. ISSUANCE OF THE COINS.

    (a) Period for Issuance.--The Secretary shall make every effort to 
issue the coins under this Act by July 21, 1994. The coins shall be 
made available for issue during the 1-year period beginning on the date 
the coins are first issued.
    (b) Proof and Uncirculated Coins.--The coins authorized under this 
Act shall be issued in uncirculated and proof qualities.

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. FINANCIAL ASSURANCE.

    (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 2 shall not result in any net cost to 
the Federal Government.
    (b) Payment for 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 Government.