World University Games Commemorative Coin Act of 1993

Summary: World University Games Commemorative Coin Act of 1993 - Authorizes the minting and issuance of five-dollar gold coins and one-dollar silver coins to commemorate American participation in the World University Games.  Requires that all surcharges from the sale of such coins be paid to the Greater Buffalo Athletic Corporation to support amateur athletic programs, erect facilities for the use of such athletes, and to underwrite the cost of sponsoring the World University Games.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``World University Games Commemorative 
Coin Act of 1993''.

SEC. 2. COIN SPECIFICATIONS.

    (a) Five-Dollar Gold Coins.--
            (1) Issuance.--The Secretary of the Treasury (hereinafter 
        in this Act referred to as the ``Secretary'') shall issue not 
        more than 200,000 five-dollar coins which shall--
                    (A) weigh 8.359 grams;
                    (B) have a diameter of 0.850 inches; and
                    (C) contain 90 percent gold and 10 percent alloy.
            (2) Design.--The design of such five-dollar coins shall be 
        emblematic of the participation of American athletes in the 
        World University Games. On each such coin there shall be a 
        designation of the value of the coin, an inscription of the 
        year ``1993'', and inscriptions of the words ``Liberty'', ``In 
        God We Trust'', ``United States of America'', and ``E Pluribus 
        Unum''.
    (b) One-Dollar Silver Coins.--
            (1) Issuance.--The Secretary shall issue not more than 
        750,000 one-dollar coins which shall--
                    (A) weigh 26.73 grams;
                    (B) have a diameter of 1.500 inches; and
                    (C) contain 90 percent silver and 10 percent 
                copper.
            (2) Design.--The design of such dollar coins shall be 
        emblematic of the participation of American athletes in the 
        World University Games. On each such coin there shall be a 
        designation of the value of the coin, an inscription of the 
        year ``1993'', and inscriptions of the words ``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.

SEC. 3. SOURCES OF BULLION.

    (a) Silver Bullion.--The Secretary shall obtain silver for the 
coins minted under this Act only from stockpiles established under the 
Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et 
seq.).
    (b) Gold Bullion.--The Secretary shall obtain gold for the coins 
minted under this Act pursuant to the authority of the Secretary under 
existing law.

SEC. 4. SELECTION OF DESIGN.

    The design for each coin authorized by this Act shall be selected 
by the Secretary, after consultation with the Greater Buffalo Athletic 
Corporation and the Commission of Fine Arts. As required under section 
5135 of title 31, United States Code, the design shall also be reviewed 
by the Citizens Commemorative Advisory Committee.

SEC. 5. SALE OF THE 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, and overhead expenses).
    (b) Bulk Sales.--The Secretary shall make bulk sales at a 
reasonable discount.
    (c) 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.
    (d) Surcharge Required.--All sales shall include a surcharge of $35 
per coin for the five-dollar coins and $7 per coin for the one-dollar 
coins.

SEC. 6. ISSUANCE OF THE COINS.

    (a) Gold Coins.--The five-dollar coins authorized under this Act 
shall be issued in uncirculated and proof qualities and shall be struck 
at the United States Bullion Depository at West Point.
    (b) Silver Coins.--The one-dollar coins authorized under this Act 
may be issued in uncirculated and proof qualities, except that not more 
than 1 facility of the United States Mint may be used to strike each 
such quality.
    (c) Commencement of Issuance.--The coins authorized and minted 
under this Act may be issued beginning on July 1, 1993.
    (d) Termination of Authority.--Coins may not be minted under this 
Act after June 30, 1994.

SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    No provision of law governing procurement or public contracts shall 
be applicable to the procurement of goods or services necessary for 
carrying out the provisions of this Act. Nothing in this section shall 
relieve any person entering into a contract under the authority of this 
Act from complying with any law relating to equal employment 
opportunity.

SEC. 8. DISTRIBUTION OF SURCHARGES.

    All surcharges which are received by the Secretary from the sale of 
coins issued under this Act shall be promptly paid by the Secretary to 
the Greater Buffalo Athletic Corporation. Such amounts shall be used by 
the Greater Buffalo Athletic Corporation to support local or community 
amateur athletic programs, to erect facilities for the use of such 
athletes, and to underwrite the cost of sponsoring the World University 
Games.

SEC. 9. AUDITS.

    The Comptroller General shall have the right to examine such books, 
records, documents, and other data of the Greater Buffalo Athletic 
Corporation as may be related to the expenditures of amounts paid under 
section 8.

SEC. 10. NUMISMATIC PUBLIC ENTERPRISE FUND.

    The coins issued under this Act are subject to the provisions 
section 5134 of title 31, United States Code, relating to the 
Numismatic Public Enterprise Fund.

SEC. 11. FINANCIAL ASSURANCES.

    It is the sense of the Congress that this coin program should be 
self-sustaining and should be administered in a manner that results in 
no net cost to the Numismatic Public Enterprise Fund.