Maintenance of Capital of Commodity Credit Corporation

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Considers (75) H.R. 9361.
 

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Seite 2 - The corporation, including its franchise, its capital, reserves, and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Seite 2 - The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations of the Commissioner issued under this title and for such purpose is authorized to use as a public-debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended...
Seite 2 - Such obligations shall be in such forms and denominations, shall have such maturities, shall bear such rates of interest, shall be subject to such terms and conditions, and shall be issued in such manner and sold at such prices as may be prescribed by the Commodity Credit Corporation, with the approval of the Secretary of the Treasury.
Seite 2 - All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as public debt transactions of the United States.
Seite 2 - ... in the Treasury not otherwise appropriated, and thereupon to the extent of the amount so paid the Secretary of the Treasury shall succeed to all the rights of the holders of such bonds.
Seite 2 - ... income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency or possession thereof, or by any State, county, municipality or local taxing authority ; except that any real property of the corporation shall be subject to State, Territorial, county, municipal or local taxation to the same extent, according to its value, as other real property is taxed.
Seite 2 - States, and such guaranty shall be expressed on the face thereof, and such obligations shall be lawful investments and may be accepted as security for all fiduciary, trust, and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Seite 2 - ... transaction the proceeds from the sale of any securities hereafter issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of the Corporation's bonds hereunder.
Seite 2 - Such obligations shall be fully and unconditionally guaranteed both as to interest and principal by the United States...
Seite 2 - Federal land banks, or to joint stock land banks, and farm loan bonds issued under the provisions of this Act, shall be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation.

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