Volume 76 · 222
Public Law 87–552
Authorizing the acquisition of certain property in the District of Columbia and its conveyance to the International Monetary Fund, on a full reimbursement basis, for use in expansion of its headquarters.
Approved July 27, 1962
Statutory text
JOINT RESOLUTION
Authorizing the acquisition of certain property in the District of Columbia and its conveyance to the International Monetary Fund, on a full reimbursement basis, for use in expansion of its headquarters.
Whereas it is in the interest of the Government of the United States to promote international monetary cooperation; and
Whereas in furtherance of that interest the United States, under authority of the Bretton Woods Agreements Act (59 Stat. 512, as
22 USC 286 note.
amended), became an original member of the International Monetary Fund (hereinafter referred to as the “Fund”) which serves as a permanent institution providing the machinery for consultation and collaboration on international monetary problems; and
Whereas the principal office of the Fund has been established in Washington, District of Columbia, in fulfillment of the requirements in the articles of agreement of the Fund that the site of its principal office shall be located in the territory of the member country having the largest quota in the Fund; and
Whereas the present principal office of the Fund has become inadequate as the result of the increased membership and activities of the Fund;and
Whereas it is to the advantage of the Government of the United States to assist the Fund to acquire, with the resources of the Fund, an adjacent site for the expansion of the Fund’s headquarters: Now, therefore, be it
Resolved by the Senate and House of Representatives of the United States of America in Congress assembled,
That the Administrator of General Services is hereby authorized, on the basis of full reimbursement by the International Monetary Fund, (1) to acquire, by purchase, condemnation, or otherwise, the land in the northwest section of the District of Columbia known as lots I and R in square 141, together with any buildings and improvements thereon, and (2) to convey the property so acquired to the International Monetary Fund for use in expanding the principal office of the Fund.
Approved July 27, 1962.