(17) The 10th undesignated paragraph of sec-
tion 16 of the Federal Reserve Act (12 U.S.C. 420) 
is amended by striking ‘‘Secretary of the Treasury’’ 
and inserting ‘‘Board’’. 
(f) SAVINGS PROVISIONS.— 
(1) EXISTING RIGHTS, DUTIES, AND OBLIGA-
TIONS NOT AFFECTED.—The enactment of this sec-
tion shall not affect the validity of any right, duty, 
or obligation of the United States, the bureau of the 
United States Mint, the Bureau of Engraving and 
Printing, any officer or employee of such Mint or 
Bureau, or any other person. 
(2) CONTINUATION
OF
SUITS.—No action or 
other proceeding commenced by or against the Sec-
retary of the Treasury with respect to any function 
of the Secretary which was transferred to the Board 
of Governors of the Federal Reserve System under 
this section shall abate by reason of the enactment 
of this Act, except that the Board shall be sub-
stituted for the Secretary as a party to any such ac-
tion or proceeding. 
(3) CONTINUATION OF ORDERS, RESOLUTIONS, 
DETERMINATIONS, AND REGULATIONS.—All orders, 
resolutions, determinations, and regulations, which 
have been issued, made, prescribed, or allowed to be-
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come effective by the Secretary of the Treasury 
under section 303 or 304 of title 31, United States 
Code, or subchapter II, III, or IV of chapter 51 of 
such title which relate to matters, actions, functions, 
or personnel transferred to the Board of Governors 
of the Federal Reserve System under this section 
shall continue in effect according to the terms of 
such orders, resolutions, determinations, and regula-
tions and shall be enforceable by or against the 
Board of Governors of the Federal Reserve System, 
until modified, terminated, set aside, or superseded 
in accordance with applicable law. 
(4) EMPLOYEE RIGHTS AND BENEFITS.—Not-
withstanding paragraph (1), the Board of Governors 
of the Federal Reserve System may transfer the offi-
cers and employees referred to in such paragraph to 
the pay and benefit plans of the Board, to the extent 
that no interest of any such officer or employee is 
adversely affected by any such transfer. 
SEC. 9. PAPER FOR CURRENCY. 
After the date of the enactment of this Act, no con-
tract may be entered into for the acquisition of paper for 
the production of Federal reserve notes unless the contract 
specifies that all the paper deliverable under the contract 
must be produced entirely within the United States. 
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SEC. 10. OBSOLETE COINS. 
(a) IN GENERAL.—At least 60 days before the date 
of the transfer of the Bureau of the Mint to the Board 
of Governors of the Federal Reserve System, under section 
6(c) is finalized, and after consultation with the Board of 
Governors of the Federal Reserve System and the submis-
sion of notice to the Congress, the Secretary of the Treas-
ury shall declare to be obsolete any circulating $1 coin 
that bears the design of the $1 coins being issued imme-
diately before the issuance of coins with the design re-
ferred to in section 5112(n)(7) of title 31, United States 
Code. 
(b) RULE OF CONSTRUCTION.—Any coins described 
in subsection (a) that are declared to be obsolete— 
(1) shall be treated in the same manner as all 
other obsolete United States coins, and 
(2) to the extent such coins remain in general 
circulation, shall remain legal tender. 
SEC. 11. ISSUANCE OF REDESIGNED QUARTER DOLLARS 
HONORING THE DISTRICT OF COLUMBIA AND 
EACH OF THE TERRITORIES. 
Section 5112 of title 31, United States Code, is 
amended by inserting after subsection (m) the following 
new subsection: 
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‘‘(n) REDESIGN
AND ISSUANCE
OF CIRCULATING 
QUARTER DOLLAR HONORING THE DISTRICT OF COLUM-
BIA AND EACH OF THE TERRITORIES.— 
‘‘(1) REDESIGN IN 2009.— 
‘‘(A) IN
GENERAL.—Notwithstanding the 
fourth sentence of subsection (d)(1) and sub-
section (d)(2) and subject to paragraph (6)(B), 
quarter dollar coins issued during 2009, shall 
have designs on the reverse side selected in ac-
cordance with this subsection which are em-
blematic of the District of Columbia and the 
territories. 
‘‘(B) FLEXIBILITY
WITH
REGARD
TO 
PLACEMENT
OF
INSCRIPTIONS.—Notwith-
standing subsection (d)(1), the Secretary may 
select a design for quarter dollars issued during 
2009 in which— 
‘‘(i) the inscription described in the 
second sentence of subsection (d)(1) ap-
pears on the reverse side of any such quar-
ter dollars; and 
‘‘(ii) any inscription described in the 
third sentence of subsection (d)(1) or the 
designation of the value of the coin ap-
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pears on the obverse side of any such quar-
ter dollars. 
‘‘(2) SINGLE
DISTRICT
OR
TERRITORY
DE-
SIGN.—The design on the reverse side of each quar-
ter dollar issued during 2009 shall be emblematic of 
one of the following: The District of Columbia, the 
Commonwealth of Puerto Rico, Guam, American 
Samoa, the United States Virgin Islands, and the 
Commonwealth of the Northern Mariana Islands. 
‘‘(3) SELECTION OF DESIGN.— 
‘‘(A) IN GENERAL.—Each of the 6 designs 
required under this subsection for quarter dol-
lars shall be— 
‘‘(i) selected by the Secretary after 
consultation with— 
‘‘(I) the chief executive of the 
District of Columbia or the territory 
being honored, or such other officials 
or group as the chief executive officer 
of the District of Columbia or the ter-
ritory may designate for such purpose; 
and 
‘‘(II) the Commission of Fine 
Arts; and 
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