§5202 Eisenhower Exchange Fellowship Program Trust Fund

Summary

Creates a trust fund in the U.S. Treasury called the Eisenhower Exchange Fellowship Program Trust Fund to hold money the law allows under section 5204. The Treasury Secretary must invest all money put into the fund only in interest‑paying U.S. government bonds or in debt guaranteed by the United States. The Secretary can buy new bonds at their issue price or buy existing ones at market price. The law also allows special U.S. bonds to be issued at face value just for the fund. Their interest rate equals the average rate on marketable U.S. interest‑bearing debt at the end of the prior month, rounded down to the next lower multiple of one‑eighth of 1 percent. Those special bonds are issued only if the Secretary decides other purchases aren’t in the public interest. The Treasury may sell regular holdings at market price and redeem special bonds at face value plus accrued interest. All interest and sale or redemption money goes back into the fund.