II

103D CONGRESS

2D SESSION S. 2530

To express the sense of the Congress on suspending consideration of any

commemorative coin legislation during the 104th Congress, to affirm

the role of the Citizens Commemorative Coin Advisory Committee in

recommending new commemorative coin programs, and to authorize the

Secretary of the Treasury to mint certain coins.

IN THE SENATE OF THE UNITED STATES

OCTOBER 6 (legislative day, SEPTEMBER 12), 1994

Mrs. HUTCHISON (for herself, Mr. WOFFORD, Mr. ROBB, Mr. DECONCINI,

Mr. INOUYE, Mr. LEVIN, Mr. HATFIELD, and Mr. D’AMATO) introduced

the following bill; which was read twice and referred to the Committee

on Banking, Housing, and Urban Affair

A BILL

To express the sense of the Congress on suspending consideration of any commemorative coin legislation during the

104th Congress, to affirm the role of the Citizens Commemorative Coin Advisory Committee in recommending

new commemorative coin programs, and to authorize the

Secretary of the Treasury to mint certain coins.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Commemorative Coin

5 Moratorium Act of 1994’’.
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1 SEC. 2. SENSE OF THE CONGRESS ON SUSPENSION OF CON2 SIDERATION OF ANY COMMEMORATIVE COIN

3 BILLS DURING THE 104TH CONGRESS.

4 It is the sense of the Congress that the Committee

5 on Banking, Finance and Urban Affairs of the House of

6 Representatives and the Committee on Banking, Housing,

7 and Urban Affairs of the Senate should not report or oth8 erwise clear for consideration by the House of Representa9 tives or the Senate during the 104th Congress any legisla10 tion providing for any commemorative coin programs for

11 any year.

12 SEC. 3. CONGRESSIONAL AFFIRMATION OF THE ROLE OF

13 THE CITIZENS COMMEMORATIVE COIN ADVI14 SORY COMMITTEE.

15 The Congress declares that the Citizens Commemora16 tive Coin Advisory Committee is intended by the Congress

17 to play a lead role in reviewing requests for, and making

18 recommendations with respect to, commemorative coin

19 programs. It is the sense of the Congress that legislation

20 providing for commemorative coin programs should only

21 be considered by the Committee on Banking, Finance and

22 Urban Affairs of the House of Representatives and the

23 Committee on Banking, Housing, and Urban Affairs of

24 the Senate, after taking into account the recommendations

25 of the advisory committee.
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1 SEC. 4. 50TH ANNIVERSARY OF THE WORLD WAR II PEACE

2 ACCORDS COMMEMORATIVE COIN.

3 (a) SENSE OF THE CONGRESS.—

4 (1) FINDINGS.—The Congress finds that—

5 (A) September 2, 1995, will mark the 50th

6 anniversary of the signing of the peace accords

7 on the U.S.S. Missouri among the nations in8 volved in World War II in the Pacific;

9 (B) the signing of the peace accords

10 marked the end of all hostilities in the largest

11 war the world has ever known; and

12 (C) September 2, 1945, also marked the

13 birth of a democratic form of government in

14 Japan.

15 (2) SENSE OF THE CONGRESS.—It is the sense

16 of the Congress that—

17 (A) the 50th anniversary of the signing of

18 the World War II peace accords on the U.S.S.

19 Missouri should not go unrecognized at the na20 tional level; and

21 (B) the United States should recognize

22 such anniversary by minting and issuing a com23 memorative coin.

24 (b) COIN SPECIFICATIONS.—

25 (1) $1 SILVER COINS.—Subject to paragraph

26 (2), the Secretary of the Treasury (hereafter in this
4

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1 section referred to as the ‘‘Secretary’’) shall mint

2 and issue not more than 500,000 1 dollar coins,

3 which shall—

4 (A) weigh 26.73 grams;

5 (B) have a diameter of 1.500 inches; and

6 (C) contain 90 percent silver and 10 per7 cent copper.

8 (2) AFFIRMATIVE REPORT OF THE CITIZENS

9 COMMEMORATIVE COIN ADVISORY COMMITTEE.—The

10 Secretary may not mint coins under this section

11 prior to the submission by the Citizens Commemora12 tive Coin Advisory Committee to the Secretary, not

13 later than 1 year after the date of enactment of this

14 Act, of a report containing—

15 (A) a notice of a determination by the ad16 visory committee that the coins authorized

17 under this section meet the criteria established

18 by the advisory committee for commemorative

19 coins; and

20 (B) a recommendation that such coins

21 should be produced as provided in this section.

22 (3) LEGAL TENDER.—The coins minted under

23 this section shall be legal tender, as provided in sec24 tion 5103 of title 31, United States Code.
5

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1 (4) NUMISMATIC ITEMS.—For purposes of sec2 tion 5134 of title 31, United States Code, all coins

3 minted under this section shall be considered to be

4 numismatic items.

5 (c) SOURCES OF BULLION.—The Secretary shall ob6 tain silver for minting coins under this section only from

7 stockpiles established under the Strategic and Critical Ma8 terials Stock Piling Act.

9 (d) DESIGN OF COINS.—

10 (1) DESIGN REQUIREMENTS.—

11 (A) IN GENERAL.—The design of the coins

12 minted under this section shall be emblematic

13 of the signing of the World War II peace ac14 cords on September 2, 1945.

15 (B) DESIGNATION AND INSCRIPTIONS.—

16 On each coin minted under this section there

17 shall be—

18 (i) a designation of the value of the

19 coin;

20 (ii) an inscription of the year ‘‘1995’’;

21 and

22 (iii) inscriptions of the words ‘‘Lib23 erty’’, ‘‘In God We Trust’’, ‘‘United States

24 of America’’, and ‘‘E Pluribus Unum’’.
6

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1 (2) SELECTION.—The design for the coins

2 minted under this section shall be—

3 (A) selected by the Secretary after con4 sultation with the Admiral Nimitz Foundation

5 and the Commission of Fine Arts; and

6 (B) reviewed by the Citizens Commemora7 tive Coin Advisory Committee.

8 (e) ISSUANCE OF COINS.—

9 (1) QUALITY OF COINS.—Coins minted under

10 this section shall be issued in uncirculated and proof

11 qualities.

12 (2) MINT FACILITY.—Only 1 facility of the

13 United States Mint may be used to strike any par14 ticular quality of the coins minted under this sec15 tion.

16 (3) COMMENCEMENT OF ISSUANCE.—The Sec17 retary may issue coins minted under this section be18 ginning January 1, 1997.

19 (4) TERMINATION OF MINTING AUTHORITY.—

20 No coins may be minted under this section after De21 cember 31, 1997.

22 (f) SALE OF COINS.—

23 (1) SALE PRICE.—The coins issued under this

24 section shall be sold by the Secretary at a price

25 equal to the sum of—
7

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1 (A) the face value of the coins;

2 (B) the surcharge provided in paragraph

3 (4) with respect to such coins; and

4 (C) the cost of designing and issuing the

5 coins (including labor, materials, dies, use of

6 machinery, overhead expenses, marketing, and

7 shipping).

8 (2) BULK SALES.—The Secretary shall make

9 bulk sales of the coins issued under this section at

10 a reasonable discount.

11 (3) PREPAID ORDERS.—

12 (A) IN GENERAL.—The Secretary shall ac13 cept prepaid orders for the coins minted under

14 this section before the issuance of such coins.

15 (B) DISCOUNT.—Sale prices with respect

16 to prepaid orders under subparagraph (A) shall

17 be at a reasonable discount.

18 (4) SURCHARGES.—All sales shall include a

19 surcharge of $8 per coin.

20 (g) GENERAL WAIVER OF PROCUREMENT REGULA21 TIONS.—

22 (1) IN GENERAL.—Except as provided in para23 graph (2), no provision of law governing procure24 ment or public contracts shall be applicable to the
8

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1 procurement of goods and services necessary for car2 rying out the provisions of this section.

3 (2) EQUAL EMPLOYMENT OPPORTUNITY.—

4 Paragraph (1) shall not relieve any person entering

5 into a contract under the authority of this section

6 from complying with any law relating to equal em7 ployment opportunity.

8 (h) DISTRIBUTION OF SURCHARGES.—

9 (1) IN GENERAL.—All surcharges received by

10 the Secretary from the sale of coins issued under

11 this section shall be promptly paid by the Secretary

12 to the Admiral Nimitz Foundation for the purpose

13 of preserving the Pacific War heritage of the United

14 States.

15 (2) AUDITS.—The Comptroller General of the

16 United States shall have the right to examine such

17 books, records, documents, and other data of the

18 Admiral Nimitz Foundation as may be related to the

19 expenditures of amounts paid under paragraph (1).

20 (i) FINANCIAL ASSURANCES.—

21 (1) NO NET COST TO THE GOVERNMENT.—The

22 Secretary shall take such actions as may be nec23 essary to ensure that minting and issuing coins

24 under this section will not result in any net cost to

25 the United States Government.
9

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1 (2) PAYMENT FOR COINS.—A coin shall not be

2 issued under this section unless the Secretary has

3 received—

4 (A) full payment for the coin;

5 (B) security satisfactory to the Secretary

6 to indemnify the United States for full pay7 ment; or

8 (C) a guarantee of full payment satisfac9 tory to the Secretary from a depository institu10 tion whose deposits are insured by the Federal

11 Deposit Insurance Corporation or the National

12 Credit Union Administration Board.

13 SEC. 5. FRANKLIN DELANO ROOSEVELT COMMEMORATIVE

14 COIN.

15 (a) FINDINGS.—The Congress finds that—

16 (1) the people of the United States feel a deep

17 debt of gratitude to Franklin Delano Roosevelt for

18 his leadership in America’s struggle for peace, well19 being, and human dignity;

20 (2) Franklin Delano Roosevelt served his coun21 try as the thirty-second President from 1932 until

22 his death in 1945, and is the only United States

23 President elected to 4 terms in office;

24 (3) Franklin Delano Roosevelt served the State

25 of New York as Governor from 1928 through 1932;
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1 (4) Franklin Delano Roosevelt served his coun2 try as the United States Assistant Secretary of the

3 Navy from 1913 through 1920;

4 (5) Franklin Delano Roosevelt piloted the

5 American people through the economic chaos of the

6 Great Depression;

7 (6) Franklin Delano Roosevelt, as our com8 mander in chief, led the American people through

9 the turmoil of World War II;

10 (7) Franklin Delano Roosevelt established So11 cial Security, thus providing all Americans with a

12 more abundant and secure life;

13 (8) Franklin Delano Roosevelt was the author

14 of ‘‘The Four Freedoms: Freedom of Speech, Free15 dom of Worship, Freedom from Want, and Freedom

16 from Fear’’;

17 (9) Franklin Delano Roosevelt was the founder

18 of the National Foundation for Infantile Paralysis,

19 parent organization of the March of Dimes;

20 (10) Franklin Delano Roosevelt was the chief

21 architect of the United Nations;

22 (11) after many years of planning, the Franklin

23 Delano Roosevelt Memorial will soon join the memo24 rials of Washington, Jefferson, and Lincoln as a

25 tribute to another great American leader; and
11

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1 (12) upon its completion in late 1996, the

2 Franklin Delano Roosevelt Memorial will be a series

3 of 4 large rooms encompassing over 7 acres, and will

4 be situated between the Lincoln and Jefferson me5 morials in Washington, D.C.

6 (b) COIN SPECIFICATIONS.—

7 (1) $1 SILVER COINS.—Subject to paragraph

8 (2), the Secretary of the Treasury (hereafter in this

9 section referred to as the ‘‘Secretary’’) shall mint

10 and issue not more than 300,000 one dollar coins,

11 which shall—

12 (A) weigh 26.73 grams;

13 (B) have a diameter of 1.500 inches; and

14 (C) contain 90 percent silver and 10 per15 cent copper.

16 (2) AFFIRMATIVE REPORT OF THE CITIZENS

17 COMMEMORATIVE COIN ADVISORY COMMITTEE.—The

18 Secretary may not mint coins under this section

19 prior to the submission by the Citizens Commemora20 tive Coin Advisory Committee to the Secretary, not

21 later than 1 year after the date of enactment of this

22 Act, of a report containing—

23 (A) a notice of a determination by the ad24 visory committee that the coins authorized

25 under this section meet the criteria established
12

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1 by the advisory committee for commemorative

2 coins; and

3 (B) a recommendation that such coins

4 should be produced as provided in this section.

5 (3) LEGAL TENDER.—The coins minted under

6 this section shall be legal tender, as provided in sec7 tion 5103 of title 31, United States Code.

8 (4) NUMISMATIC ITEMS.—For purposes of sec9 tion 5134 of title 31, United States Code, all coins

10 minted under this section shall be considered to be

11 numismatic items.

12 (c) SOURCES OF BULLION.—The Secretary shall ob13 tain silver for minting coins under this section only from

14 stockpiles established under the Strategic and Critical Ma15 terials Stock Piling Act.

16 (d) DESIGN OF COINS.—

17 (1) DESIGN REQUIREMENTS.—

18 (A) IN GENERAL.—The design of the coins

19 minted under this section shall bear a likeness

20 of Franklin Delano Roosevelt.

21 (B) DESIGNATION AND INSCRIPTIONS.—

22 On each coin minted under this section there

23 shall be—

24 (i) a designation of the value of the

25 coin;
13

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1 (ii) an inscription of the year ‘‘1997’’;

2 and

3 (iii) inscriptions of the words ‘‘Lib4 erty’’, ‘‘In God We Trust’’, ‘‘United States

5 of America’’, and ‘‘E Pluribus Unum’’.

6 (2) SELECTION.—The design for the coins

7 minted under this section shall be—

8 (A) selected by the Secretary after con9 sultation with the Franklin Delano Roosevelt

10 Memorial Commission and the Commission of

11 Fine Arts; and

12 (B) reviewed by the Citizens Commemora13 tive Coin Advisory Committee.

14 (3) ADDITIONS AND ALTERATIONS.—No addi15 tion or alteration to the design selected in accord16 ance with paragraph (2) shall be made without the

17 approval of the Franklin Delano Roosevelt Memorial

18 Commission.

19 (e) ISSUANCE OF COINS.—

20 (1) QUALITY AND MINT FACILITY.—The coins

21 authorized under this section may be issued in uncir22 culated and proof qualities and shall be struck at the

23 United States Bullion Depository at West Point.

24 (2) PERIOD FOR ISSUANCE.—The Secretary

25 may issue coins minted under this section only dur-
14

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1 ing the period beginning on January 1, 1997, and

2 ending on December 31, 1997.

3 (f) SALE OF COINS.—

4 (1) SALE PRICE.—The coins issued under this

5 section shall be sold by the Secretary at a price

6 equal to the sum of—

7 (A) the face value of the coins;

8 (B) the surcharge provided in paragraph

9 (4) with respect to such coins; and

10 (C) the cost of designing and issuing the

11 coins (including labor, materials, dies, use of

12 machinery, overhead expenses, marketing, and

13 shipping).

14 (2) BULK SALES.—The Secretary shall make

15 bulk sales of the coins issued under this section at

16 a reasonable discount.

17 (3) PREPAID ORDERS.—

18 (A) IN GENERAL.—The Secretary shall ac19 cept prepaid orders for the coins minted under

20 this section before the issuance of such coins.

21 (B) DISCOUNT.—Sale prices with respect

22 to prepaid orders under subparagraph (A) shall

23 be at a reasonable discount.

24 (4) SURCHARGES.—All sales shall include a

25 surcharge of $15 per coin.
15

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1 (g) GENERAL WAIVER OF PROCUREMENT REGULA2 TIONS.—

3 (1) IN GENERAL.—Except as provided in para4 graph (2), no provision of law governing procure5 ment or public contracts shall be applicable to the

6 procurement of goods and services necessary for car7 rying out the provisions of this section.

8 (2) EQUAL EMPLOYMENT OPPORTUNITY.—

9 Paragraph (1) shall not relieve any person entering

10 into a contract under the authority of this section

11 from complying with any law relating to equal em12 ployment opportunity.

13 (h) DISTRIBUTION OF SURCHARGES.—

14 (1) IN GENERAL.—All surcharges received by

15 the Secretary from the sale of coins issued under

16 this section shall be promptly paid by the Secretary

17 as follows:

18 (A) An amount equal to 50 percent of the

19 total surcharges shall be paid to the National

20 Park Foundation Restricted Account for the

21 Franklin Delano Roosevelt Memorial.

22 (B) An amount equal to 50 percent of the

23 total surcharges shall be paid to the National

24 Park Service Restricted Construction Account

25 for the Franklin Delano Roosevelt Memorial.
16

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1 (2) AUDITS.—The Comptroller General of the

2 United States shall have the right to examine such

3 books, records, documents, and other data of the ac4 counts referred to in paragraph (1) as may be relat5 ed to the expenditures of amounts paid under such

6 paragraph.

7 (i) FINANCIAL ASSURANCES.—

8 (1) NO NET COST TO THE GOVERNMENT.—The

9 Secretary shall take such actions as may be nec10 essary to ensure that minting and issuing coins

11 under this section will not result in any net cost to

12 the United States Government.

13 (2) PAYMENT FOR COINS.—A coin shall not be

14 issued under this section unless the Secretary has

15 received—

16 (A) full payment for the coin;

17 (B) security satisfactory to the Secretary

18 to indemnify the United States for full pay19 ment; or

20 (C) a guarantee of full payment satisfac21 tory to the Secretary from a depository institu22 tion whose deposits are insured by the Federal

23 Deposit Insurance Corporation or the National

24 Credit Union Administration Board.
17

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1 SEC. 6. INDEPENDENCE HALL COMMEMORATIVE COIN.

2 (a) FINDINGS.—The Congress makes the following

3 findings:

4 (1) Two hundred years ago, in 1793, George

5 Washington was sworn in to his second term as

6 President of the United States of America in the

7 Senate chamber of Congress Hall in Philadelphia,

8 Pennsylvania;

9 (2) For 150 years, the historic buildings in

10 Philadelphia, Pennsylvania, known as Congress Hall,

11 the Old City Hall, and Independence Hall (which

12 housed the Liberty Bell, the symbol of the heritage

13 of free people in the United States) were under the

14 occasional care of local government units.

15 (3) Later, the Federal Government, through the

16 National Park Service, assumed responsibility for

17 the preservation and maintenance of these and other

18 related historic sites for present and future genera19 tions of Americans.

20 (4) In recent years, financial exigencies and the

21 increased responsibilities of the National Park Serv22 ice have prevented the Federal Government from

23 meeting the capital needs of these historic sites.

24 (5) The minting and issuance of a United

25 States coin is an appropriate way to commemorate
18

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1 these historic buildings and to aid in funding their

2 necessary maintenance and preservation.

3 (b) COIN SPECIFICATIONS.—

4 (1) $1 SILVER COINS.—Subject to paragraph

5 (2), the Secretary of the Treasury (hereafter in this

6 section referred to as the ‘‘Secretary’’) shall mint

7 and issue not more than 500,000 $1 coins, which

8 shall—

9 (A) weigh 26.73 grams;

10 (B) have a diameter of 1.500 inches; and

11 (C) contain 90 percent silver and 10 per12 cent copper.

13 (2) AFFIRMATIVE REPORT OF THE CITIZENS

14 COMMEMORATIVE COIN ADVISORY COMMITTEE.—The

15 Secretary may not mint coins under this section

16 prior to the submission by the Citizens Commemora17 tive Coin Advisory Committee to the Secretary, not

18 later than 1 year after the date of enactment of this

19 Act, of a report containing—

20 (A) a notice of a determination by the ad21 visory committee that the coins authorized

22 under this section meet the criteria established

23 by the advisory committee for commemorative

24 coins; and
19

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1 (B) a recommendation that such coins

2 should be produced as provided in this section.

3 (3) LEGAL TENDER.—The coins minted under

4 this section shall be legal tender, as provided in sec5 tion 5103 of title 31, United States Code.

6 (4) NUMISMATIC ITEMS.—For purposes of sec7 tion 5134 of title 31, United States Code, all coins

8 minted under this section shall be considered to be

9 numismatic items.

10 (c) SOURCES OF BULLION.—The Secretary shall ob11 tain silver for minting coins under this section only from

12 stockpiles established under the Strategic and Critical Ma13 terials Stock Piling Act.

14 (d) DESIGN OF COINS.—

15 (1) DESIGN REQUIREMENTS.—

16 (A) IN GENERAL.—The design of the coins

17 minted under this section shall be emblematic

18 of the national shrines of liberty and shall show

19 the Liberty Bell on one side and Independence

20 Hall on the other side.

21 (B) DESIGNATION AND INSCRIPTIONS.—

22 On each coin minted under this section there

23 shall be—

24 (i) a designation of the value of the

25 coin;
20

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1 (ii) an inscription of the year ‘‘1998’’;

2 and

3 (iii) inscriptions of the words ‘‘Lib4 erty’’, ‘‘In God We Trust’’, ‘‘United States

5 of America’’, and ‘‘E Pluribus Unum’’.

6 (2) SELECTION.—The design for the coins

7 minted under this section shall be—

8 (A) selected by the Secretary after con9 sultation with the Commission of Fine Arts;

10 and

11 (B) reviewed by the Citizens Commemora12 tive Coin Advisory Committee.

13 (e) ISSUANCE OF COINS.—

14 (1) QUALITY OF COINS.—Coins minted under

15 this section shall be issued in uncirculated and proof

16 qualities.

17 (2) MINT FACILITY.—Only 1 facility of the

18 United States Mint may be used to strike any par19 ticular quality of the coins minted under this sec20 tion.

21 (3) PERIOD FOR ISSUANCE.—The Secretary

22 may issue coins minted under this section only dur23 ing the period beginning on January 1, 1998, and

24 ending on December 31, 1998.

25 (f) SALE OF COINS.—
21

•S 2530 IS

1 (1) SALE PRICE.—The coins issued under this

2 section shall be sold by the Secretary at a price

3 equal to the sum of—

4 (A) the face value of the coins;

5 (B) the surcharge provided in paragraph

6 (4) with respect to such coins; and

7 (C) the cost of designing and issuing the

8 coins (including labor, materials, dies, use of

9 machinery, overhead expenses, marketing, and

10 shipping).

11 (2) BULK SALES.—The Secretary shall make

12 bulk sales of the coins issued under this section at

13 a reasonable discount.

14 (3) PREPAID ORDERS.—

15 (A) IN GENERAL.—The Secretary shall ac16 cept prepaid orders for the coins minted under

17 this section before the issuance of such coins.

18 (B) DISCOUNT.—Sale prices with respect

19 to prepaid orders under subparagraph (A) shall

20 be at a reasonable discount.

21 (4) SURCHARGES.—All sales shall include a

22 surcharge of $7 per coin.

23 (g) GENERAL WAIVER OF PROCUREMENT REGULA24 TIONS.—
22

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1 (1) IN GENERAL.—Except as provided in para2 graph (2), no provision of law governing procure3 ment or public contracts shall be applicable to the

4 procurement of goods and services necessary for car5 rying out the provisions of this section.

6 (2) EQUAL EMPLOYMENT OPPORTUNITY.—

7 Paragraph (1) shall not relieve any person entering

8 into a contract under the authority of this section

9 from complying with any law relating to equal em10 ployment opportunity.

11 (h) DISTRIBUTION OF SURCHARGES.—

12 (1) IN GENERAL.—All surcharges received by

13 the Secretary from the sale of coins issued under

14 this section shall be promptly paid by the Secretary

15 to the Independence Hall Preservation Fund to as16 sist the Fund’s efforts to—

17 (A) create an endowment fund to finance

18 capital improvements in Independence National

19 Historic Park;

20 (B) fund capital replacement projects for

21 the buildings in Independence National Historic

22 Park; and

23 (C) meet such other needs as the Directors

24 of the Independence Hall Preservation Fund

25 deem appropriate to foster and increase respect
23

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1 and admiration for Independence National His2 toric Park.

3 (2) AUDITS.—The Comptroller General of the

4 United States shall have the right to examine such

5 books, records, documents, and other data of the

6 Independence Hall Preservation Fund as may be re7 lated to the expenditures of amounts paid under

8 paragraph (1).

9 (i) FINANCIAL ASSURANCES.—

10 (1) NO NET COST TO THE GOVERNMENT.—The

11 Secretary shall take such actions as may be nec12 essary to ensure that minting and issuing coins

13 under this section will not result in any net cost to

14 the United States Government.

15 (2) PAYMENT FOR COINS.—A coin shall not be

16 issued under this section unless the Secretary has

17 received—

18 (A) full payment for the coin;

19 (B) security satisfactory to the Secretary

20 to indemnify the United States for full pay21 ment; or

22 (C) a guarantee of full payment satisfac23 tory to the Secretary from a depository institu24 tion whose deposits are insured by the Federal
24

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1 Deposit Insurance Corporation or the National

2 Credit Union Administration Board.

3 SEC. 7. NATIONAL LAW ENFORCEMENT OFFICERS MEMO4 RIAL COIN.

5 (a) COIN SPECIFICATIONS.—

6 (1) FIVE DOLLAR GOLD COINS.—Subject to

7 paragraph (3), the Secretary of the Treasury (here8 after in this section referred to as the ‘‘Secretary’’)

9 shall issue not more than 200,000 five dollar coins,

10 which shall—

11 (A) weigh 8.859 grams;

12 (B) have a diameter of 0.850 inches; and

13 (C) contain 90 percent gold and 10 percent

14 alloy.

15 (2) $1 SILVER COINS.—Subject to paragraph

16 (3), the Secretary shall mint and issue not more

17 than 500,000 $1 coins, which shall—

18 (A) weigh 26.73 grams;

19 (B) have a diameter of 1.500 inches; and

20 (C) contain 90 percent silver and 10 per21 cent copper.

22 (3) AFFIRMATIVE REPORT OF THE CITIZENS

23 COMMEMORATIVE COIN ADVISORY COMMITTEE.—The

24 Secretary may not mint coins under this section

25 prior to the submission by the Citizens Commemora-
25

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1 tive Coin Advisory Committee to the Secretary, not

2 later than 1 year after the date of enactment of this

3 Act, of a report containing—

4 (A) a notice of a determination by the ad5 visory committee that the coins authorized

6 under this section meet the criteria established

7 by the advisory committee for commemorative

8 coins; and

9 (B) a recommendation that such coins

10 should be produced as provided in this section.

11 (4) LEGAL TENDER.—The coins minted under

12 this section shall be legal tender, as provided in sec13 tion 5103 of title 31, United States Code.

14 (5) NUMISMATIC ITEMS.—For purposes of sec15 tion 5134 of title 31, United States Code, all coins

16 minted under this section shall be considered to be

17 numismatic items.

18 (c) SOURCES OF BULLION.—The Secretary shall ob19 tain silver for minting coins under this section only from

20 stockpiles established under the Strategic and Critical Ma21 terials Stock Piling Act.

22 (d) DESIGN OF COINS.—

23 (1) DESIGN REQUIREMENTS.—

24 (A) IN GENERAL.—The design of the coins

25 minted under this section shall be emblematic
26

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1 of the National Law Enforcement Officers Me2 morial.

3 (B) DESIGNATION AND INSCRIPTIONS.—

4 On each coin minted under this section there

5 shall be—

6 (i) a designation of the value of the

7 coin;

8 (ii) an inscription of the year ‘‘1997’’;

9 and

10 (iii) inscriptions of the words ‘‘Lib11 erty’’, ‘‘In God We Trust’’, ‘‘United States

12 of America’’, and ‘‘E Pluribus Unum’’.

13 (2) SELECTION.—The design for the coins

14 minted under this section shall be—

15 (A) selected by the Secretary after con16 sultation with—

17 (i) the National Law Enforcement Of18 ficers Memorial Fund, Inc.;

19 (ii) the Secretary of the Interior (or

20 his or her designee); and

21 (iii) the Commission of Fine Arts; and

22 (B) reviewed by the Citizens Commemora23 tive Coin Advisory Committee.

24 (e) ISSUANCE OF COINS.—
27

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1 (1) QUALITY OF COINS.—Coins minted under

2 this section shall be issued in uncirculated and proof

3 qualities.

4 (2) MINT FACILITY.—Only 1 facility of the

5 United States Mint may be used to strike any par6 ticular quality of the coins minted under this sec7 tion.

8 (3) PERIOD FOR ISSUANCE.—The Secretary

9 may issue coins minted under this section only dur10 ing the period beginning on May 15, 1997, and end11 ing on May 15, 1998.

12 (f) SALE OF COINS.—

13 (1) SALE PRICE.—The coins issued under this

14 section shall be sold by the Secretary at a price

15 equal to the sum of—

16 (A) the face value of the coins;

17 (B) the surcharges provided in paragraph

18 (4) with respect to such coins; and

19 (C) the cost of designing and issuing the

20 coins (including labor, materials, dies, use of

21 machinery, overhead expenses, marketing, and

22 shipping).

23 (2) BULK SALES.—The Secretary shall make

24 bulk sales of the coins issued under this section at

25 a reasonable discount.
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1 (3) PREPAID ORDERS.—

2 (A) IN GENERAL.—The Secretary shall ac3 cept prepaid orders for the coins minted under

4 this section before the issuance of such coins.

5 (B) DISCOUNT.—Sale prices with respect

6 to prepaid orders under subparagraph (A) shall

7 be at a reasonable discount.

8 (4) SURCHARGES.—All sales shall include a

9 surcharge of—

10 (A) $35 per coin for a $5 gold coin; and

11 (B) $7 per coin for a $1 silver coin.

12 (g) GENERAL WAIVER OF PROCUREMENT REGULA13 TIONS.—

14 (1) IN GENERAL.—Except as provided in para15 graph (2), no provision of law governing procure16 ment or public contracts shall be applicable to the

17 procurement of goods and services necessary for car18 rying out the provisions of this section.

19 (2) EQUAL EMPLOYMENT OPPORTUNITY.—

20 Paragraph (1) shall not relieve any person entering

21 into a contract under the authority of this section

22 from complying with any law relating to equal em23 ployment opportunity.

24 (h) DISTRIBUTION OF SURCHARGES.—
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1 (1) IN GENERAL.—All surcharges received by

2 the Secretary from the sale of coins issued under

3 this section shall be promptly paid by the Secretary

4 to the National Law Enforcement Officers Memorial

5 Maintenance Fund established under paragraph (1)

6 of subsection (j), and shall be used for the purposes

7 described in paragraph (2) of such subsection.

8 (2) AUDITS.—The Comptroller General of the

9 United States shall have the right to examine such

10 books, records, documents, and other data of the

11 National Law Enforcement Officers Memorial Main12 tenance Fund as may be related to the expenditures

13 of amounts paid under paragraph (1).

14 (i) FINANCIAL ASSURANCES.—

15 (1) NO NET COST TO THE GOVERNMENT.—The

16 Secretary shall take such actions as may be nec17 essary to ensure that minting and issuing coins

18 under this section will not result in any net cost to

19 the United States Government.

20 (2) PAYMENT FOR COINS.—A coin shall not be

21 issued under this section unless the Secretary has

22 received—

23 (A) full payment for the coin;
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1 (B) security satisfactory to the Secretary

2 to indemnify the United States for full pay3 ment; or

4 (C) a guarantee of full payment satisfac5 tory to the Secretary from a depository institu6 tion whose deposits are insured by the Federal

7 Deposit Insurance Corporation or the National

8 Credit Union Administration Board.

9 (j) NATIONAL LAW ENFORCEMENT OFFICERS ME10 MORIAL MAINTENANCE FUND.—

11 (1) ESTABLISHMENT.—

12 (A) IN GENERAL.—There is hereby estab13 lished the National Law Enforcement Officers

14 Memorial Maintenance Fund (hereafter referred

15 to in this subsection as the ‘‘Fund’’), which

16 shall be a revolving fund, to be administered by

17 the Secretary of the Interior (or his or her des18 ignee).

19 (B) FUNDING.—Monies for the Fund shall

20 be raised through the surcharges authorized

21 under subsection (f)(4). The Secretary of the

22 Interior may accept donations for the Fund.

23 (C) INTEREST BEARING ACCOUNT.—The

24 Fund shall be maintained in an interest bearing

25 account within the Department of the Treasury.
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1 (2) PURPOSES.—The Fund shall be used—

2 (A) for maintenance and repair of the Na3 tional Law Enforcement Officers Memorial;

4 (B) to add to the Memorial the names of

5 law enforcement officers who have died in the

6 line of duty;

7 (C) for security of the Memorial site, in8 cluding the posting of National Park Service

9 rangers and United States Park Police, as ap10 propriate;

11 (D) at the discretion of the Secretary of

12 the Interior and in consultation with the Sec13 retary of the Treasury and the Attorney Gen14 eral of the United States, who shall establish an

15 equitable procedure between the Fund and such

16 other organizations as may be appropriate, to

17 provide educational scholarships to the imme18 diate family members of law enforcement offi19 cers killed in the line of duty whose names ap20 pear on the Memorial, the total amount of such

21 scholarships not to exceed 10 percent of the

22 Fund’s annual income;

23 (E) for the dissemination of information

24 regarding the Memorial to the general public;

25 and
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1 (F) to administer the Fund, including con2 tracting for necessary services, in an amount

3 not to exceed the lesser of—

4 (i) 10 percent of the Fund’s annual

5 income; or

6 (ii) $200,000 in any 1-year period.

7 (3) BUDGET AND AUDIT TREATMENT.—The

8 Fund shall be subject to the budget and audit provi9 sions of chapter 91 of title 31, United States Code.

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