TABLE 30.-Description of agency securities and D.C. Armory Board Stadium bonds subject to statutory limitation, June 30, 1972 [On basis of daily Treasury statements, see "Bases of Tables"] Securities Rate of Amount interest UNMATURED Debt Percent District of Columbia Armory Board Stadium bonds of 1970-79 issued under the act of Sept. 7, 1957, as amended (2 D.C. Code 1722-1727)1 a ̧. Federal Housing Administration debentures issued under the act of June 27, 1934, as amended (12 U.S.C. 1701-1750g) 4 TABLE 30.-Description of agency securities and D.C. Armory Board Stadium bonds subject to statutory limitation, June 30, 1972-Continued Securities UNMATURED DEBT-Continued Federal Housing Administration debentures issued under the act of June 27, 1934, as amended (12 U.S.C. 1701-1750g) 3 4—Continued District of Columbia Armory Board, interest.. Federal Farm Mortgage Corporation: Principal.. Interest. Federal Housing Administration: Principal. Interest... Home Owners' Loan Corporation: Principal.. Interest. Reconstruction Finance Corporation, interest. Total matured debt (principal and interest). 54,999.00 83,900.00 28,999.95 8,450.00 2,213. 13 198, 750.00 62,740. 07 19.25 440, 082. 65 474, 001, 832.65 Issued on June 1, 1960, at a price to yield 4.1879 percent, but sale was not consummated until Aug. 2, 1960. Interest is payable semiannually on June 1 and Dec. 1. These bonds are redeemable on and after June 1, 1970, and mature on Dec. 1, 1979. The securities and the income derived therefrom, and gain from the sale or other disposition thereof or transfer as by inheritance or gift, are subject to taxation by the United States, but are exempt both as to principal and interest from all taxation, except estate and inheritance taxes, imposed by the District of Columbia. Issued and payable on various dates. Interest is payable semiannually on Jan. 1 and July 1. All unmatured debentures are redeemable on any interest day or days, on 3 months' notice. Under the Public Debt Act of 1941 (31 U.S.C. 742a), income or gain derived from these securities is subject to all Federal taxes now or hereafter imposed. The securities are subject to surtaxes, estate, inheritance, or gift taxes whether Federal or State, but are exempt from all taxation now or hereafter imposed on the principal or interest thereof by any State, municipality, or local taxing authority. Debentures issued on contracts entered into before Mar. 1, 1941, are exempt from all taxation except surtaxes, estate, inheritance, and gift taxes. Funds are on deposit with the Treasurer of the United States for payment of principal of $291,100 and interest of $148,982.65. NOTE. For securities held by the Treasury see table 108. TABLE 31.-Debt subject to statutory limitation, June 30, 1972 PART I.-STATUS UNDER LIMITATION, JUNE 30, 1972 The statutory debt limit established by the Second Liberty Bond Act, as amended (31 U.S.C. 757b) Amounts outstanding subject to statutory debt limitation: U.S. Government securities issued under the Second Liberty Bond Act, as amended Participation certificates (12 U.S.C. 1717(c))................ Total amount outstanding subject to statutory debt limitation.... 451 426,638 474 1,465 Balance issuable under limitation.. 215 TABLE 31.-Debt subject to statutory limitation, June 30, 1972-Continued PART II.-APPLICATION OF STATUTORY LIMITATION, JUNE 30, 1972 U.S. notes.. Mortgage Guaranty Insurance Company tax and loss bonds. Deposits for retirement of national bank and Federal Reserve bank notes. Other debt bearing no interest. Total debt bearing no interest. Total outstanding 94, 648 113, 419 49, 135 257,202 6,225 167 10, 688 1,906 250 446 55, 921 561 55 22 10 2,310 78,560 89,598 425,360 380 825 27 47 1 323 73 215 10 1,521 427, 260 474 (*) 473 Includes public debt incurred to finance expenditures of wholly owned Government corporations and other activities in exchange for which securities of the corporations and activities were issued to the Treasury. See table 108. TABLE 32.-Debt limitation under the Second Liberty Bond Act, as amended, 1917-7: Date and act History of legislation Amount of limitation Sec. 1 authorized issuance of bonds in the amount of.. Amended sec. 1, increasing bond issuance authority to..... Amended sec. 1, increasing bond issuance authority to........................ Amended sec. 5, increasing authority for certificates outstanding to.... Added sec. 18, authorizing issuance of notes in the amount of........... $7,538,945, 45 4,000,000,000 12,000,000 8,000,000, 20,000,000,00 10,000,000,000 7,000,000,00 Amended sec. 18, providing limit on notes outstanding........................ 7,500,000,000 Amended sec. 5, authorizing bills in addition to certificates of indebtedness outstanding.... 10,000,000,000 Amended sec. 1, increasing bond issuance authority to.. 28,000,000,00 Amended sec. 18, increasing authority for notes outstanding to..... 10,000,000,000 May 26, 1938 52 Stat. 447.... July 20, 1939 53 Stat. 1071... Amended sec. 1, providing limit on bonds outstanding.. Added sec. 21, consolidating authority for certificates and bills (sec. 5) and authority for notes (sec. 18) outstanding..... 25,000,000,000 20,000,000, C ... Amended sec. 21, consolidating authority for bonds, notes, certificates of indebtedness, and bills outstanding (bonds limited to $30 billion).. 45,000,000,00 June 25, 1940 54 Stat. 526.. Amended sec. 21, removing limitation on bonds without changing authorized total of bonds, notes, certificates of indebtedness, and bills outstanding... 45,000,000,000 Amended sec. 21, adding new authority for issuance of $4 billion National Defense Series obligations outstanding... 49,000,000,000 Amended sec. 21, eliminating authority for $4 billion of National Defense Series obligations and increasing limitation to..... Amended sec. 21, including obligations guaranteed as to principal and interest by the United States and increasing limitation to...... 300,000,000,000 Amended sec. 21, defining face amount of savings bonds to be current redemption value and decreasing limitation to........ 275,000,000,08 June 30, 1955 69 Stat. 241... Increased sec. 21 limitation by $6 billion during period beginning Aug. 28, 1954, and ending June 30, 1955.. 281,000,000,000 July 9, 1956 70 Stat. 519...... Amended act of Aug. 28, 1954, extending increase in limitation until June 30, 1956.......... 281,000,000,00 Increased sec. 21 limitation by $3 billion during period beginning July 1, 1956, and ending June 30, 1957.. Feb. 26, 1958 72 Stat. 27. Sept. 2, 1958 72 Stat. 1758..... Temporary increase terminated July 1, 1957, and limitation reverted to. 275, 000, 000, J 278,000,000,0 Increased sec. 21 limitation by $5 billion during period beginning Feb. 26, 1958, and ending June 30, 1959_... 280,000,000,00 June 30, 1959 73 Stat. 156...... Amended sec. 21, increasing limitation to $283 billion, which, with temporary increase of Feb. 26, 1958, made limitation....... 288,000,000,00 Amended sec. 21, increasing limitation to $285 billion, and increased sec. 21 limitation by $10 billion during period beginning July 1, 1959, and ending June 30, 1960.... 295,000,000,00 |