HR 5049

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IN THE HOUSE OF REPRESENTATIVES

September 19, 1994

Mr. Bateman (for himself, Mr. Baker of California, Mrs. Bentley, Mr. Bliley, Mr. Collins of Georgia, Mr. DeLay, Mr. Emerson, Mr. Fields, Mr. Fish, Mr. Gallegly, Mr. Gekas, Mr. Gilman, Mr. Goodlatte, Mr. Hunter, Mr. Hutchinson, Mrs. Johnson of Connecticut, Mr. Lewis of Florida, Mr. Lightfoot, Mr. Livingston, Mr. McDade, Mr. McKeon, Mr. Moorhead, Mr. Packard, Mr. Porter, Mr. Ravenel, Mr. Roberts, Mr. Saxton, Mr. Schaefer, Ms. Snowe, Mr. Spence, Mr. Stearns, Mr. Stump, Mr. Thomas of California, Mrs. Vucanovich, Mr. Wolf, Mr. Bacchus of Florida, Mr. Berman, Mr. Bilbray, Mr. Boucher, Mrs. Bryne, Mr. de Lugo, Mr. Frost, Mr. Hastings, Mr. Hughes, Mr. Johnson of South Dakota, Mr. Lipinski, Mr. Matsui, Mr. Meehan, Mrs. Meek, Mr. Mineta, Mr. Montgomery, Mr. Moran, Mr. Murphy, Mr. Neal of Massachusetts, Mr. Payne of Virginia, Mr. Pickett, Mr. Scott, Mr. Serrano, Mr. Sisisky, Mr. Spratt, Mr. Tauzin, Mr. Towns, Mr. Watt, Mr. Wilson, Mr. Borski, Mr. Jefferson, and Mr. LaFalce) introduced the following bill; which was referred to the Committee on Banking, Finance and Urban Affairs

A BILL

To require the Secretary of the Treasury to mint coins in commemoration of George Washington’s boyhood home.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “George Washington Boyhood Home Commemorative Coin Act of 1994”.

SEC. 2. COIN SPECIFICATIONS.

(a) One-Dollar Silver Coins.—

(1) Issuance.—The Secretary of the Treasury (hereafter in this Act referred to as the “Secretary”) shall issue not more than 500,000 one-dollar coins, which shall—

(A) weigh 26.73 grams;

(B) have a diameter of 1.500 inches; and

(C) contain 90 percent silver and 10 percent copper.

(2) Design.—The design of the coins issued under this Act shall be emblematic of a profile of George Washington and a depiction of his boyhood home, commonly referred to as the “Ferry Farm”, on the Stafford County banks of the Rappahannock River opposite the city of Fredericksburg, Virginia. On each coin there shall be a designation of the value of the coin, an inscription of the year “1996”, and inscriptions of the words “Liberty”, “In God We Trust”, “United States of America”, and “E Pluribus Unum”.

(b) Legal Tender.—The coins issued under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code.

(c) Numismatic Items.—For purposes of section 5132(a)(1) of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.

SEC. 3. SOURCES OF BULLION.

The Secretary shall obtain silver for the coins minted under this Act only from stockpiles established under the Strategic and Critical Minerals Stock Piling Act.

SEC. 4. SELECTION OF DESIGN.

Subject to section 2(a)(2), the design for the coins authorized by this Act shall be—

(1) selected by the Secretary after consultation with the Commission of Fine Arts; and

(2) reviewed by the Citizens Commemorative Coin Advisory Committee.

SEC. 5. ISSUANCE OF COINS.

(a) Quality of Coins.—Coins minted under this Act shall be issued in uncirculated and proof qualities.

(b) Mint Facility.—Only 1 facility of the United States Mint may be used to strike any particular quality of the coins minted under this Act.

(c) Period for Issuance.—The Secretary may issue coins minted under this Act during the period beginning on January 1, 1996, and ending on December 31, 1996.

SEC. 6. SALE OF COINS.

(a) Sale Price.—The coins authorized under this Act shall be sold by the Secretary at a price equal to the sum of the face value of the coins, the surcharge provided in subsection (c) with respect to such coins, and the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).

(b) Prepaid Orders.—The Secretary shall accept prepaid orders for the coins authorized under this Act prior to the issuance of such coins. Sale prices with respect to such prepaid orders shall be at a reasonable discount.

(c) Surcharges.—All sales shall include a surcharge of $12 per coin.

SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

(a) In General.—Except as provided in subsection (b), no provision of law governing procurement or public contracts shall be applicable to the procurement of goods and services necessary for carrying out the provisions of this Act.

(b) Equal Employment Opportunity.—Subsection (a) shall not relieve any person entering into a contract under the authority of this Act from complying with any law relating to equal employment opportunity.

SEC. 8. DISTRIBUTION OF SURCHARGES.

All surcharges received by the Secretary from the sale of coins issued under this Act shall be promptly paid by the Secretary to the George Washington Boyhood Home Foundation for the purpose of restoring, preserving, and developing the boyhood home of America’s first President.

SEC. 9. AUDITS.

The Comptroller General of the United States shall have the right to examine such books, records, documents, and other data of the George Washington Boyhood Home Foundation as may be related to the expenditures of amounts paid under section 8.

SEC. 10. FINANCIAL ASSURANCES.

(a) No Net Cost to the Government.—The Secretary shall take such actions as may be necessary to ensure that minting and issuing coins under this Act will not result in any net cost to the United States Government.

(b) Payment for Coins.—A coin shall not be issued under this Act unless the Secretary has received—

(1) full payment for the coin;

(2) security satisfactory to the Secretary to indemnify the United States for full payment; or

(3) a guarantee of full payment satisfactory to the Secretary from a depository institution whose deposits are insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration Board. <all>