PRIA, Government Policy, Made Personal

Summary

The Secretary of the Treasury can use money from selling securities under chapter 31 of title 31 to buy Postal Service obligations, and that purpose is added to chapter 31. He may sell any obligations he acquires, and all those redemptions, purchases, and sales are treated as public debt transactions of the United States.

Title 39, §2007

Postal Service, Source: USLM XML via OLRC

For the purpose of any purchase of the obligations of the Postal Service, the Secretary of the Treasury is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under chapter 31 of title 31, as now or hereafter in force, and the purposes for which securities may be issued under chapter 31 of title 31, as now or hereafter in force, are extended to include any purchases of the obligations of the Postal Service under this chapter. The Secretary of the Treasury may, at any time, sell any of the obligations of the Postal Service acquired by him under this chapter. All redemptions, purchases, and sales by the Secretary of the obligations of the Postal Service shall be treated as public debt transactions of the United States.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1983—Pub. L. 97–452 substituted “chapter 31 of title 31” for “the Second Liberty Bond Act” wherever appearing.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective July 1, 1971, pursuant to Resolution No. 71–9 of the Board of Governors. See section 15(a) of Pub. L. 91–375, set out as a note preceding section 101 of this title.

§2007 Public Debt Character of the Obligations of the Postal Service