(2) The Secretary of the Treasury shall invest amounts in the fund in public debt securities with maturities suitable for the needs of the funds and bearing interest at prevailing market rates; and the interest on such investments shall be credited to and form a part of the fund. (3) Notwithstanding section 4(a)(2), any gift, bequest, or devise of money, securities or other property for the benefit of the Hubert H. Humphrey Fellowship in Social and Political Thought received by the Board shall, upon receipt, be deposited into the fund as provided by paragraph (1). (e) The Secretary of the Treasury shall pay to the Board from amounts received as interest on investments under subsection (d) (2) such sums as the Board determines are necessary and appropriate for the purposes of the Humphrey Fellowship. (f) There is authorized to be appropriated to the fund for the fiscal year beginning October 1, 1978, $1,000,000. ADMINISTRATION SEC. [5]. 6. The Board is authorized to adopt an official seal which shall be judicially noticed and to make such bylaws, rules, and regulations as it deems necessary for the administration of its functions under this Act, including, among other matters, bylaws, rules, and regulations relating to the administration of its trust funds and the organization and procedure of the Board. A majority of the members of the Board shall constitute a quorum for the transaction of business. APPROPRIATION SEC. [6]. 7. There are hereby authorized to be appropriated to the Board such funds as may be necessary to carry out the purposes of this Act: Provided, That no more than $200,000 shall be authorized for appropriation through fiscal year 1970 and no part of that appropriation shall be available for construction purposes. RECORDS AND AUDIT SEC. [7.] 8. The accounts of the Board shall be audited in accordance with the principles and procedures applicable to, and as part of, the audit of the other Federal and trust funds of the Smithsonian Institution. |