Public Law 75–26

That the Secretary

Office of Naval Records and Library, Navy Department.

Acceptance of gifts, etc., authorized.

of the Navy is hereby authorized to accept, receive, hold, and administer gifts and bequests of personal property, and loans of personal property other than money, from individuals or others for the benefit of the Office of Naval Records and Library, Navy Department, its collection or its services. Gifts or bequests of money shall be

Deposits of money as trust funds.

deposited in the Treasury of the United States as trust funds under the title “Office of Naval Records and Library Fund.”

Sec. 2.

Gifts or bequests for the benefit of the Office of Naval

Tax exemption.

Records and Library, Navy Department, its collection or its services shall be exempt from all Federal taxes.

Sec. 3.

The Secretary of the Treasury is authorized, upon the

Investments of trust funds.

request of the Secretary of the Navy, to invest or reinvest the trust funds, or any part thereof, deposited in the Treasury pursuant to section 1 of this Act in securities of the United States Government or in securities guaranteed by the United States Government. The

Interest.

interest accruing from such securities shall be deposited to the credit of the Office of Naval Records and Library Fund.