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<br />0010'79
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<br />(d) All funds derived from tho sale of bonds issued under this section
<br />shall be paid over to the Corporation. All bonds issued hereunder shall be
<br />in suoh forms and denominations, shall mature within suoh periods not more
<br />than fi!'ty years from the date of their !Bsue, may be redeemable at the
<br />option of the Corporation before maturity in suoh manner as me.y be stipulated
<br />therein, shall bear such rates of interest not exceeding 3 1/2 per centum per
<br />annum, shall be subject to suoh terms and oonditions, shall be issued in
<br />such manner and amount, and sold at such prices as !DAY be prescribed by the
<br />Corporation with the approval of the Seoretary of the Treasury: Provided,
<br />That suoh bonds shall not be sold at such prices or on such terms as to
<br />afford an investment yield to the holders in exoess of 3 1/2 per centum per
<br />annum. Suoh bonds shall be i\llly and unoonditionally guaranteed both as to
<br />interest and principal by the United States, and such guaranty shall be ex.
<br />pressed on the faoes thereof, and such bonds shall be lawi\ll investments, and
<br />may be accepted as seourity for all fiduciary, trust, and public funds, the
<br />investment or deposit of whioh shall be under the authority or oontrol of the
<br />United States or any offioer or offioers thereof. In the event that the
<br />Corporation should not pay upon demand, when due, the prinoipal of, or
<br />interest on, such bonds, the Seoretary of the Treasury shall pay to the holder
<br />the amount thereof, which is hereby authorized to be appropriated out of any
<br />moneys in the Treasury not otherwise appropriated, and thereupon to the
<br />extent of the amount so paid the Secretary of the Treasury sha.ll succeed to
<br />all the rights of the holders of such bonds. The Secretary of the Treasury,
<br />in his discretion, is authorized to purchase any bonds issued hereunder, and
<br />for suoh purpose the Secretary of the Treasury is authorized to use as a
<br />publio-debt transaction the proceeds from the sals of any securities here-
<br />a!'ter issued under the Second Liberty Bond Act, as amended, and the purposes
<br />for which seourities may be issued under such aot, as amended, are extended
<br />to include any purohases of the Corporation's bonds hereunder. The Secretary
<br />of the Treasury may, at any tima, sell any of the bonds of the Corporation
<br />acquired by him under this seotion. All redemptions, purohases, and salesby
<br />the Secretary of the Treasury of the bonds of the Corporation shall be treated
<br />ae publio-debt transactions of the United States. With the approval of the
<br />Seoretary of the Treasury, the Corporation shall have power to purchase suoh
<br />bonds in the open market at any time and at any price.
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<br />SEC. 16. The Corporation is hereby authorized to construot, either
<br />direotly or by contract to the lowest responsible bidder, a!'ter due advertise-
<br />ment, dams in and across rfhits River, at sites which by long custom have
<br />become known and designated as Bull Shoals, in Arkansas, and Table Rock, in
<br />Missouri, and which have been recommended by the Secretary of War and the
<br />Chief of Engineers in House Document Numbered 917, Seventy-sixth Congress,
<br />third session, and a darn in and across the Little Missouri River at the site
<br />whioh by lon~ custom has baconte known and designated as the Narrows, in
<br />Arkansas, and whioh has been reoommended by the Secretary of Wa-r and the
<br />Chief of Engineers in House Document Numbered 837, Seventy-sixth Congress,
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<br />-17.
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