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![handle is hein.gao/gaobaavms0001 and id is 1 raw text is:
RESTRtv TD - Not to he relegsod outside the cGneral
£. -:0 r' fice except c11 the bar-is of spec;tlc a'oaI
-sl Cua r-es s~iI R-clatione.
) \( UNITED STATES GENERAL ACCOUNTING OFFICE
WASHINGTON, D.C. 20548
CIENtRAL GOVERNMENT
DIVI slo. OCT 2 9 1976
LM100303
The Honorable Leonor K. Sullivan
House of Representatives
Dear Mrs. Sullivan:
Your July 13, 1976, letter asked us to determine how grants,
authorized under Public Law 93-44l, to Eisenhower College at Sondca
Falls, New York! and the Sanxiel Rayburn Library in Bonham, Texas,
were used.
As you know, the amount of funds involved depended on the sale of
silver $1 proof coins bearing President Eisenhower's likeness. The law
authorized appropriations of ,up to $10 million, one-tenth of which was
to go to the library. The college and library received $8,399,747 Lnd
$933,305, respectively. No additional grants can be made under exist-
ing legislation.
The grants were unconditional; the college and library were not
restricted in their use of the funds. As of June.30, 1976, the col]ege
funds had been used as follows:
Investments $3,451,700
Operating expenses 2,346,047
Capital projects 2,602,000
Total $8.L399 747
The library invested all $933,305 and uses some of the income received
for general expenses.
NO LEGILATIVE RESTRICTIONS
Public Law 93-441 (Oct. 11, 1974) amended the Bank Holding Act
Amendments of 1970 and authorized the Secretary of the Treasury to
transfer to the college the lower of either $10 million or one-tenth
GGD-77-4](ViewImageLocal?handle=hein.gao/gaobaavms0001&div=1&collection=&method=preview&ext=.png&size=3)