[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1539 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                S. 1539

To require the Secretary of the Treasury to mint coins in commemoration 
of Franklin Delano Roosevelt on the occasion of the 50th Anniversary of 
                   the death of President Roosevelt.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 13, 1993

  Mr. Inouye (for himself, Mr. Hatfield, Mr. Levin, and Mr. D'Amato) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to mint coins in commemoration 
of Franklin Delano Roosevelt on the occasion of the 50th Anniversary of 
                   the death of President Roosevelt.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``1995 Franklin Delano Roosevelt 
Commemorative Coin Act''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) the people of the United States feel a deep debt of 
        gratitude to Franklin Delano Roosevelt for his leadership in 
        America's struggle for peace, well-being, and human dignity;
            (2) the year 1995 marks the 50th anniversary of the death 
        of President Franklin Delano Roosevelt, who died April 12, 
        1945, in Warm Springs, Georgia;
            (3) Franklin Delano Roosevelt served his country as the 32d 
        President from 1932 until his death in 1945. He is the only 
        United States President elected to four terms in office;
            (4) Franklin Delano Roosevelt served the State of New York 
        as Governor from 1928 through 1932;
            (5) Franklin Delano Roosevelt served his country as the 
        United States Assistant Secretary of the Navy from 1913 through 
        1920;
            (6) Franklin Delano Roosevelt piloted the American people 
        through the economic chaos of the Great Depression;
            (7) Franklin Delano Roosevelt, as our commander in chief, 
        led the American people through the turmoil of World War II;
            (8) Franklin Delano Roosevelt established Social Security, 
        thus providing all Americans with a more abundant and secure 
        life;
            (9) Franklin Delano Roosevelt was the author of ``The Four 
        Freedoms: Freedom of Speech, Freedom of Worship, Freedom from 
        Want, and Freedom from Fear'';
            (10) Franklin Delano Roosevelt was the founder of the 
        National Foundation for Infantile Paralysis, parent 
        organization of the March of Dimes; and
            (11) Franklin Delano Roosevelt was the chief architect of 
        the United Nations.

SEC. 3. COIN SPECIFICATIONS.

    (a) One Dollar Silver Coins.--
            (1) Issuance.--The Secretary shall issue not more than 
        500,000 one dollar coins which shall weigh 26.73 grams, have a 
        diameter of 1.500 inches, and shall contain 90 percent silver 
        and 10 percent copper.
            (2) Design.--The design of the dollar coins shall bear a 
        likeness of Franklin Delano Roosevelt. On each such coin there 
        shall be a designation of the value of the coin, an inscription 
        of the year ``1995'', and inscriptions of the terms 
        ``Liberty'', ``In God We Trust'', ``United States of America'', 
        and ``E Pluribus Unum''.
            (3) Alterations.--Additions or alterations to the design of 
        the coin shall be made only after consultation with, and 
        approval by, the Franklin Delano Roosevelt Memorial Commission.
    (b) Legal Tender.--The coins issued under this Act shall be legal 
tender as provided in section 5103 of title 31, United States Code.
    (c) Numismatic Items.--The coins issued under this Act shall be 
numismatic items for purposes of section 5134 of title 31, United 
States Code.

SEC. 4. SOURCES OF BULLION.

    The Secretary shall obtain silver for the coins minted under this 
Act from stockpiles established under the Strategic and Critical 
Materials Stock Piling Act (50 U.S.C. 98 et seq.).

SEC. 5. SELECTION OF DESIGN.

    The design for each coin authorized by this Act shall be selected 
by the Secretary after consultation with the Franklin Delano Roosevelt 
Memorial Commission.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--Notwithstanding any provision of law, the coins 
issued under this Act shall be sold by the Secretary at a price equal 
to the face value, plus the cost of designing and issuing such coins 
(including labor, materials, dies, use of machinery, overhead expenses, 
marketing, and shipping).
    (b) Prepaid Orders at a Discount.--The Secretary shall accept 
prepaid orders for the coins prior to the issuance of such coins. Sales 
under this subsection shall be at a reasonable discount to reflect the 
benefit of prepayment.
    (c) Surcharge Required.--All sales shall include a surcharge of $10 
per coin.

SEC. 7. ISSUANCE OF THE COINS.

    (a) Period for Issuance.--The coins authorized under this Act shall 
be available for issue not later than January 1, 1995, but shall be 
issued only during the 1-year period beginning on such date.
    (b) Proof and Uncirculated Coins.--The coins authorized under this 
Act shall be issued in uncirculated and proof qualities. Not more than 
1 facility of the Bureau of the Mint may be used to strike any 
particular combination of denomination and quality.

SEC. 8. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    (a) In General.--Except as provided in subsection (b), no provision 
of law governing procurement or public contracts shall be applicable to 
the procurement of goods or services required to carry out this Act.
    (b) Equal Employment Opportunity.--Subsection (a) shall not relieve 
any person entering into a contract under the authority of this Act 
from complying with any law relating to equal employment opportunity.

SEC. 9. DISTRIBUTION OF SURCHARGES.

    The surcharges received by the Secretary from the sale of the coins 
issued under this Act shall be promptly paid by the Secretary in the 
following manner:
            (1) An amount equal to 50 percent of the total surcharges 
        shall be paid to the National Park Foundation Restricted 
        Account for the Franklin Delano Roosevelt Memorial.
            (2) An amount equal to 50 percent of the total surcharges 
        shall be paid to the National Park Service Restricted 
        Construction Account for the Franklin Delano Roosevelt 
        Memorial.

SEC. 10. AUDITS.

    The Comptroller General of the United States shall have the right 
to examine such books, records, documents, and other data of the 
account referred to in section 9 as may be related to the expenditure 
of amounts paid under such section.

SEC. 11. FINANCIAL ASSURANCES.

    (a) No Net Cost to the Government.--The Secretary shall take such 
actions as may be necessary to ensure that the minting and issuance of 
the coins referred to in section 3 shall not result in any net cost to 
the Federal Government.
    (b) Payment for Issuance of Coins.--No coin shall be issued under 
this Act unless the Secretary has received--
            (1) full payment for such coin;
            (2) security satisfactory to the Secretary to indemnify the 
        United States for full payment; or
            (3) a guarantee of full payment satisfactory to the 
        Secretary from a depository institution whose deposits are 
        insured by the Federal Deposit Insurance Corporation or the 
        National Credit Union Administration.

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