Maritime Surveillance Revolving Fund


§ 679. Establishment.
§ 680. Purpose.
§ 681. Deposits.
§ 682. Administration.

Editor’s note: PL 16-66, which was signed into law on February 14, 2011, by Vice President Alik L. Alik, in his capacity as Acting President, creates a subchapter XII. This, however, conflicts with PL 13-54, which impliedly created a subchapter XI, but which in turn conflicted with PL 12-17 §§ 9 to 16, which created sections 667 to 673 of a subchapter X of chapter 6. PL 12 to 17, in its turn, does not address the existing subchapter X of chapter 6, entitled ADB Water Loan Fund, which was added by PL 9-135 §§ 6 to 11 as subchapter IX and renumbered by PL 10-152 § 7 as subchapter X. To address this series of misnumbering of subchapters and sections, this subchapter is redesignated as subchapter XIII, and new sections 671 to 674 as sections 679 to 682, respectively.

§ 679. [§ 671.] Establishment.

There is hereby created and established a Maritime Surveillance Revolving Fund, separate from the General Fund of the Federated States of Micronesia and all other funds.

Source: PL 16-66 § 2.

§ 680. [§ 672.] Purpose.

The purpose of the Fund is to provide reliable funding for fuel, oil, provisions, and spare parts for the patrol and surveillance boats of the National Government of the Federated States of Micronesia. The Fund shall not be used for salaries or overtime.

Source: PL 16-66 § 3; PL 17-79 § 1.

§ 681. [§ 673.] Deposits.

All future appropriations for the Fund, as well as revenues received pursuant to the provisions of sections 901 and 902 of title 24 on and after October 1, 2011, shall be deposited in the Fund. Any unexpended moneys in this Fund shall neither revert to the General Fund nor lapse at the end of the fiscal year; PROVIDED, HOWEVER, that any amount in excess of $500,000 shall be paid into the General Fund.

Source: PL 16-66 § 4; PL 16-74 § 1.

Cross-reference: Title 24 of this code is on Marine Resources.

§ 682. [§ 674.] Administration.

The fund shall be administered by the President of the Federated States of Micronesia, or his designee, who shall establish procedures necessary and appropriate for the effectuation and implementation of the provisions of this subchapter.

Source: PL 16-66 § 5.

Cross-reference: The statutory provisions on the President and the Executive are found in title 2 of this code.