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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1111 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                S. 1111

 To authorize the minting of coins to commemorate the Vietnam Veterans 
                      Memorial in Washington, D.C.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                              June 5, 1993

  Mr. Kerrey (for himself, Mr. McCain, and Mr. Kerry) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL

 
 To authorize the minting of coins to commemorate the Vietnam Veterans 
                      Memorial in Washington, D.C.

    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 ``Vietnam Veterans Memorial 
Commemorative Coin Act of 1994''.

SEC. 2. COIN SPECIFICATIONS.

    (a) One Dollar Silver Coins.--
            (1) Issuance.--The Secretary of the Treasury (hereafter in 
        this Act referred to as the ``Secretary'') shall issue not more 
        than 500,000 $1 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 coins issued under this Act 
        shall be emblematic of the Vietnam Veterans Memorial in 
        Washington, D.C. On each such coin there shall be a designation 
        of the value of the coin, an inscription of the year ``1994'', 
        and inscriptions of the words ``Liberty'', ``In God We Trust'', 
        ``United States of America'', and ``E Pluribus Unum''.
    (b) 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.

    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.

SEC. 4. SELECTION OF DESIGN.

    The design for the coins authorized by this Act shall be selected 
by the Secretary after consultation with the Vietnam Veterans Memorial 
Fund and the Commission of Fine Arts. As required by section 5135 of 
title 31, United States Code, the design shall also be reviewed by the 
Citizens Commemorative Coin Advisory Committee.

SEC. 5. ISSUANCE OF THE COINS.

    (a) Quality of Coins.--The coins authorized under this Act may be 
issued in uncirculated and proof qualities.
    (b) Mint Facility.--Not more than 1 facility of the United States 
Mint may be used to strike any particular quality of the coins minted 
under this Act.
    (c) Sunset Provision.--No coins shall be minted under this Act 
after April 1, 1995.

SEC. 6. 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 sum of the face value of the 
coins, the surcharge provided in subsection (d) with respect to such 
coins, and the cost of designing and issuing such coins (including 
labor, materials, dies, use of machinery, overhead expenses, marketing, 
and shipping).
    (b) Bulk Sales.--The Secretary shall make bulk sales at a 
reasonable discount.
    (c) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins authorized 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 shall include a surcharge of $10 
per coin.

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.

    The total surcharges collected by the Secretary from the sale of 
the coins issued under this Act shall be promptly paid by the Secretary 
to the Vietnam Veterans Memorial Fund to assist the Vietnam Veterans 
Memorial Fund's efforts to raise an endowment to be a permanent source 
of support for the repair, maintenance, and the addition of the names 
of veterans to the Vietnam Veterans Memorial.

SEC. 9. AUDITS.

    The Comptroller General of the United States shall have the right 
to examine such books, records, documents, and other data of the 
Vietnam Veterans Memorial Fund as may be related to the expenditure of 
amounts paid under section 8.

SEC. 10. NUMISMATIC PUBLIC ENTERPRISE FUND.

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

SEC. 11. FINANCIAL ASSURANCES.

    (a) No Net Cost to the Government.--The Secretary shall take all 
actions necessary to ensure that the issuance of the coins authorized 
by this Act shall result in no net cost to the United States 
Government.
    (b) Adequate Security for Payment Required.--No coin shall be 
issued under this Act unless the Secretary has received--
            (1) full payment therefor;
            (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 Board.

                                 <all>
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