§5202 Eisenhower Exchange Fellowship Program Trust Fund

Summary

Creates the Eisenhower Exchange Fellowship Program Trust Fund in the U.S. Treasury to hold amounts authorized under section 5204. The Treasury Secretary must invest all fund money in U.S. interest‑bearing bonds or bonds fully guaranteed by the U.S., bought when first issued or on the market. The Treasury may instead issue special bonds just for the fund at face value. Those special bonds pay the average interest rate on marketable U.S. bonds at the end of the prior month, rounded down to the next lower 1/8 of 1 percent, and are used only if buying other bonds would not be in the public interest. Bonds held (except the special ones) may be sold at market price; special bonds may be redeemed at face value plus accrued interest. All interest and sale or redemption proceeds must be added back into the fund.