I
106TH CONGRESS
1ST SESSION
H. R. 1490
To authorize the Secretary of the Interior to set aside up to $2 per person
from park entrance fees or assess up to $2 per person visiting the
Grand Canyon or another national park to secure bonds for capital
improvements to the park, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
APRIL 20, 1999
Mr. KOLBE introduced the following bill; which was referred to the Committee
on Resources
A BILL
To authorize the Secretary of the Interior to set aside up
to $2 per person from park entrance fees or assess
up to $2 per person visiting the Grand Canyon or an-
other national park to secure bonds for capital improve-
ments to the park, and for other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) SHORT TITLE.—This Act may be cited as the
‘‘National Parks Capital Improvements Act of 1999’’.
(b) TABLE OF CONTENTS.—The table of contents of
this Act is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Definitions.
Sec. 3. Fundraising organization.
Sec. 4. Memorandum of agreement.
Sec. 5. National park surcharge or set-aside.
Sec. 6. Use of bond proceeds.
Sec. 7. Administration.
SEC. 2. DEFINITIONS.
In this Act:
(1) FUNDRAISING
ORGANIZATION.—The term
‘‘fundraising organization’’ means an entity author-
ized to act as a fundraising organization under sec-
tion 3(a).
(2) MEMORANDUM OF AGREEMENT.—The term
‘‘memorandum of agreement’’ means a memo-
randum of agreement entered into by the Secretary
under section 3(a) that contains the terms specified
in section 4.
(3) NATIONAL PARK FOUNDATION.—The term
‘‘National Park Foundation’’ means the foundation
established under the Act entitled ‘‘An Act to estab-
lish the National Park Foundation’’, approved De-
cember 18, 1967 (16 U.S.C. 19e et seq.).
(4) NATIONAL
PARK.—The term ‘‘national
park’’ means—
(A) the Grand Canyon National Park; and
(B) any other national park designated by
the Secretary that has an approved general
management plan with capital needs in excess
of $5,000,000.
(5) SECRETARY.—The term ‘‘Secretary’’ means
the Secretary of the Interior.
SEC. 3. FUNDRAISING ORGANIZATION.
(a) IN GENERAL.—The Secretary may enter into a
memorandum of agreement under section 4 with an entity
to act as an authorized fundraising organization for the
benefit of a national park.
(b) BONDS.—The fundraising organization for a na-
tional park shall issue taxable bonds in return for the sur-
charge or set-aside for that national park collected under
section 5.
(c) PROFESSIONAL STANDARDS.—The fundraising
organization shall abide by all relevant professional stand-
ards regarding the issuance of securities and shall comply
with all applicable Federal and State law.
(d) AUDIT.—The fundraising organization shall be
subject to an audit by the Secretary.
(e) NO LIABILITY FOR BONDS.—
(1) IN GENERAL.—The United States shall not
be liable for the security of any bonds issued by the
fundraising organization.
(2) EXCEPTION.—If the surcharge or set-aside
described in section 5(a) for a national park is not
imposed for any reason, or if the surcharge or set-
aside is reduced or eliminated, the full faith and
credit of the United States is pledged to the pay-
ment of—
(A) the bonds issued by a fundraising or-
ganization under subsection (b) for that na-
tional park; and
(B) the interest accruing on the bonds.
SEC. 4. MEMORANDUM OF AGREEMENT.
The fundraising organization shall enter into a
memorandum of agreement that specifies—
(1) the amount of the bond issue;
(2) the maturity of the bonds, not to exceed 20
years;
(3) the per capita amount required to amortize
the bond issue, provide for the reasonable costs of
administration, and maintain a sufficient reserve
consistent with industry standards;
(4) the project or projects at the national park
that will be funded with the bond proceeds and the
specific responsibilities of the Secretary and the
fundraising organization with respect to each
project; and
(5) procedures for modifications of the agree-
ment with the consent of both parties based on
(3) the national park passport program estab-
lished under title VI of the National Parks Omnibus
Management Act of 1998 (Public Law 105–391;
112 Stat. 3518; 16 U.S.C. 5991 et seq.).
(c) LIMITATION.—The total amount charged or set
aside under subsection (a) may not exceed $2 for each
individual charged an entrance fee.
(d) USE.—A surcharge or set-aside under subsection
(a) shall be used by the fundraising organization to—
(1) amortize the bond issue;
(2) provide for the reasonable costs of adminis-
tration; and
(3) maintain a sufficient reserve consistent with
industry standards, as determined by the bond un-
derwriter.
(e) EXCESS FUNDS.—Any funds collected in excess
of the amount necessary to fund the uses in subsection
(d) shall be remitted to the National Park Foundation to
be used for the benefit of all units of the National Park
System.
SEC. 6. USE OF BOND PROCEEDS.
(a) ELIGIBLE PROJECTS.—
(1) IN GENERAL.—Subject to paragraph (2),
bond proceeds under this Act may be used for a
project for the design, construction, operation, main-
tenance, repair, or replacement of a facility in the
national park for which the bond was issued.
(2) PROJECT LIMITATIONS.—A project referred
to in paragraph (1) shall be consistent with—
(A) the laws governing the National Park
System;
(B) any law governing the national park in
which the project is to be completed; and
(C) the general management plan for the
national park.
(3) PROHIBITION
ON
USE
FOR
ADMINISTRA-
TION.—Other than interest as provided in subsection
(b), no part of the bond proceeds may be used to de-
fray administrative expenses.
(b) INTEREST ON BOND PROCEEDS.—
(1) AUTHORIZED USES.—Any interest earned
on bond proceeds may be used by the fundraising or-
ganization to—
(A) meet reserve requirements; and
(B) defray reasonable administrative ex-
penses incurred in connection with the manage-
ment and sale of the bonds.
(2) EXCESS INTEREST.—All interest on bond
proceeds not used for purposes of paragraph (1)
shall be remitted to the National Park Foundation
for the benefit of all units of the National Park Sys-
tem.
SEC. 7. ADMINISTRATION.
The Secretary, in consultation with the Secretary of
Treasury, shall promulgate regulations to carry out this
Act.
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