FSMC, TITLE 55.  GOVERNMENT FINANCE & CONTRACTS
 
 
 
Chapter 13:  Public Projects

1301.     Labeling of public projects.

      1301.  Labeling of public projects.
     All buildings, equipment, and other tangible items funded by public project funds appropriated by the Congress of the Federated States of Micronesia shall bear a label, sign, or other marking in a conspicuous place which shall display the words FUNDED BY THE CONGRESS OF THE FEDERATED STATES OF MICRONESIA.  This section shall apply to all projects funded by appropriations made since May 13, 1985.

Source: PL 5-88 1.

Editors note:  This chapter was formerly Chapter 12 of Title 55, but was moved to Chapter 13 by section 23 of PL 10-150 to accommodate new Chapter 12 on FSM Trust Fund.  Section 23 of PL 10-150 read as follows:

Section 23.  Title 55 of the Code of the Federated States of Micronesia, as amended, is hereby further amended by renumbering existing chapter 12 as chapter 13 and renumbering existing section 1201 as section 1301.

PL 9-40 which was signed into law on December 22, 1995 established lapsing dates for public projects appropriations.  PL 9-40 read as follows:

Section 1.  Notwithstanding any contrary provision of law, the authority of any allottee to obligate funds already appropriated by the Congress of the Federated States of Micronesia for state public projects shall lapse as of September 30, 1997, unless an earlier date is provided for in the respective appropriation act.
 
Section 2.  The Department of Finance of the Federated States of Micronesia shall deliver to each Member of the Congress of the Federated States of Micronesia, and to every allottee of public project funds that has a positive fund balance, no later than one hundred and twenty (120) days prior to the lapse date established in section 1 of this act, written notification of the upcoming lapse date, which notification shall include a list of all public project accounts with a positive fund balance, and the amount of the balance remaining in each account.
 
Section 3.  The authority of any allottee to obligate funds henceforth appropriated by the Congress of the Federated States of Micronesia for state public projects shall lapse at the end of the second fiscal year following the original fiscal year of appropriation, unless otherwise provided for in the respective appropriation act.
 
Section 4.  This act shall become law upon approval by the President of the Federated States of Micronesia or upon its becoming law without such approval.

Section 1 of PL 9-40 was amended by PL 10-6 which was signed into law on July 8, 1997.  PL 10-6 read as follows:

Section 1.  Section 1 of Public Law No. 9-040 is hereby amended to read as follows:

"Section 1.  Notwithstanding any contrary provision of law, the authority of any allottee to obligate funds already appropriated by the Congress of the Federated States of Micronesia for state public projects shall lapse as of September 30, 1998, unless an earlier date is provided for in the respective appropriation act, or unless  a later lapse is provided by amendment thereto becoming law after December 22, 1995."

Section 2.  This act shall become law upon approval by the President of the Federated States of Micronesia or upon its becoming law without such approval.
                                                                                                                                                                                                                                                                                                           
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