[Congressional Record Volume 143, Number 59 (Thursday, May 8, 1997)]
[Senate]
[Pages S4245-S4246]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. FAIRCLOTH (for himself, Mr. Helms, Mr. DeWine, Ms. Snowe, 
        Ms. Collins, Mr. Roberts, Mr. Mack, Mr. Domenici, Mr. Abraham, 
        Mr. Santorum, Mr. Thomas, Mr. Warner, Mr. Dodd, Mr. Cochran, 
        and Mr. Murkowski):
  S. 732. A bill to require the Secretary of the Treasury to mint and 
issue coins in commemoration of the centennial anniversary of the first 
manned flight of Orville and Wilbur Wright in Kitty Hawk, North 
Carolina, on December 17, 1903; to the Committee on Banking, Housing, 
and Urban Affairs.


                THE FIRST FLIGHT COMMEMORATIVE COIN ACT

  Mr. FAIRCLOTH. Mr. President, I rise today, joined by my colleague 
from North Carolina, Senator Helms, and 12 other Senators to introduce 
the First Flight Commemorative Coin Act. This revenue-neutral 
legislation instructs the Treasury Secretary to mint coins in 
commemoration of the Wright Brothers' historic 1903 flight on the North 
Carolina coast.
  Mr. President, in the cold morning hours of December 17, 1903, a 
small crown watched the Wright Flyer lift off the flat landscape of 
Kitty Hawk. Orville Wright traveled just 120 feet--less than the 
wingspan of a Boeing 747--in his 12-second flight. It was, however, the 
first time that a manned machine sailed into the air under its own 
power. The residents of Kitty Hawk, then an isolated fishing village, 
thus bore witness to the realization of the centuries-old dream of 
flight.
  The significance of the Wright Brothers' flight reaches far beyond 
its status as the first flight. Their flight represented the birth of 
aviation. On that morning, aeronautics moved from untested theory to 
nascent science, and it triggered a remarkable technological evolution. 
In fact, just 24 years after their fragile craft rose unsteadily and 
took to the air, Charles Lindbergh crossed the Atlantic Ocean. In 1947, 
less than half a century after the pioneer 31 m.p.h. flight over Kitty 
Hawk, Chuck Yeager shattered the sound barrier over the Mojave Desert.
  The rapid aeronautical progression, which the Wright Brothers 
initiated on that December morning in Kitty Hawk, is, of course, 
remarkable. Mr. President, it was just 66 years after the Wright 
Brothers' 120-foot flight--a timespan equivalent to the age of many 
Members of this body--that Neil Armstrong traveled 240,000 miles to 
plant the American flag on the moon. Today, some 86,000 planes lift off 
from American airports on a daily basis, and air travel is routine. It 
was with a sprinkling of onlookers, however, that the Wright Brothers 
ushered in the age of flight on that cold winter morning in Kitty Hawk.
  The site of the first flight, at the foot of Kill Devil Hill, was 
initially designated as a national memorial in 1927 and is visited by 
close to a half-million people each year.
  I think that First Flight Commemorative Coin Act is a most 
appropriate tribute to the Wright Brothers as the centennial 
anniversary of the first flight approaches. The coin will be minted in 
$10, $1, and 50 denominations, and its sales will fund educational 
programs and improvements to the visitor center at the memorial. These 
commemorative coins are struck to celebrate important historical 
events, and, of course, the proceeds are an important revenue source to 
the custodians of these legacies. The centennial anniversary of the 
Wright Brothers' flight merits our observance.
  Mr. President, because all of the funds raised under this legislation 
will be used to, build, repair or refurbish structures all within a 
national park, I have added an exemption to the mintage levels as 
required by coin reform

[[Page S4246]]

legislation last year. Nevertheless, so that coin collectors can enjoy 
some certainty that the coin will be of value in the future, the Mint 
can reduce the mintage levels as it deems necessary.
  Mr. President, I ask my colleagues for their support, and I ask 
unanimous consent that the text of the bill be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                 S. 732

       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 ``First Flight Commemorative 
     Coin Act of 1997''.

     SEC. 2. COIN SPECIFICATIONS.

       (a) Denominations.--The Secretary of the Treasury 
     (hereafter in this Act referred to as the ``Secretary'') 
     shall mint and issue the following coins:
       (1) $10 gold coins.--Not more than 500,000 $10 coins, each 
     of which shall--
       (A) weigh 16.718 grams;
       (B) have a diameter of 1.06 inches; and
       (C) contain 90 percent gold and 10 percent alloy.
       (2) $1 silver coins.--Not more than 3,000,000 $1 coins, 
     each of which shall--
       (A) weigh 26.73 grams;
       (B) have a diameter of 1.500 inches; and
       (C) contain 90 percent silver and 10 percent copper.
       (3) Half dollar clad coins.--Not more than 10,000,000 half 
     dollar coins each of which shall--
       (A) weigh 11.34 grams;
       (B) have a diameter of 1.205 inches; and
       (C) be minted to the specifications for half dollar coins 
     contained in section 5112(b) of title 31, United States Code.
       (b) Reduced Amounts.--If the Secretary determines that 
     there is clear evidence of insufficient public demand for 
     coins minted under this Act, the Secretary of the Treasury 
     may reduce the maximum amounts specified in paragraphs (1), 
     (2), and (3) of subsection (a).
       (c) Legal Tender.--The coins minted under this Act shall be 
     legal tender, as provided in section 5103 of title 31, United 
     States Code.

     SEC. 3. SOURCES OF BULLION.

       The Secretary shall obtain gold and silver for minting 
     coins under this Act pursuant to the authority of the 
     Secretary under other provisions of law, including authority 
     relating to the use of silver stockpiles established under 
     the Strategic and Critical Materials Stockpiling Act, as 
     applicable.

     SEC. 4. DESIGN OF COINS.

       (a) Design Requirements.--
       (1) In general.--The design of the coins minted under this 
     Act shall be emblematic of the first flight of Orville and 
     Wilbur Wright in Kitty Hawk, North Carolina, on December 17, 
     1903.
       (2) Designation and inscriptions.--On each coin minted 
     under this Act there shall be--
       (A) a designation of the value of the coin;
       (B) an inscription of the year ``2003''; and
       (C) inscriptions of the words ``Liberty'', ``In God We 
     Trust'', ``United States of America'', and ``E Pluribus 
     Unum''.
       (b) Selection.--The design for the coins minted under this 
     Act shall be--
       (1) selected by the Secretary after consultation with the 
     Board of Directors of the First Flight Foundation and the 
     Commission of Fine Arts; and
       (2) reviewed by the Citizens Commemorative Coin Advisory 
     Committee.

     SEC. 5. PERIOD FOR ISSUANCE OF COINS.

       (a) In General.--Except as provided in subsection (b), the 
     Secretary may issue coins minted under this Act only during 
     the period beginning on August 1, 2003, and ending on July 
     31, 2004.
       (b) Exception.--If the Secretary determines that there is 
     sufficient public demand for the coins minted under section 
     2(a)(3), the Secretary may extend the period of issuance 
     under subsection (a) for a period of 5 years with respect to 
     those coins.

     SEC. 6. SALE OF COINS.

       (a) Sale Price.--The coins issued under this Act shall be 
     sold by the Secretary at a price equal to the sum of--
       (1) the face value of the coins;
       (2) the surcharge provided in subsection (d) with respect 
     to such coins; and
       (3) the cost of designing and issuing the coins (including 
     labor, materials, dies, use of machinery, overhead expenses, 
     marketing, and shipping).
       (b) Bulk Sales.--The Secretary shall make bulk sales of the 
     coins issued under this Act at a reasonable discount.
       (c) Prepaid Orders.--
       (1) In general.--The Secretary shall accept prepaid orders 
     for the coins minted under this Act before the issuance of 
     such coins.
       (2) Discount.--Sale prices with respect to prepaid orders 
     under paragraph (1) shall be at a reasonable discount.
       (d) Surcharges.--All sales shall include a surcharge of--
       (1) $35 per coin for the $10 coin;
       (2) $10 per coin for the $1 coin; and
       (3) $1 per coin for the half dollar coin.
       (e) Marketing Expenses.--The Secretary shall ensure that--
       (1) a plan is established for marketing the coins minted 
     under this Act; and
       (2) adequate funds are made available to cover the costs of 
     carrying out that marketing plan.

     SEC. 7. 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 and services 
     necessary for carrying out the provisions of 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. 8. DISTRIBUTION OF SURCHARGES.

       (a) In General.--All surcharges received by the Secretary 
     from the sale of coins issued under this Act shall be 
     promptly paid by the Secretary to the First Flight Foundation 
     for the purposes of--
       (1) repairing, refurbishing, and maintaining the Wright 
     Brothers Monument on the Outer Banks of North Carolina; and
       (2) expanding (or, if necessary, replacing) and maintaining 
     the visitor center and other facilities at the Wright 
     Brothers National Memorial Park on the Outer Banks of North 
     Carolina, including providing educational programs and 
     exhibits for visitors.
       (b) Audits.--The Comptroller General of the United States 
     shall have the right to examine such books, records, 
     documents, and other data of the First Flight Foundation as 
     may be related to the expenditures of amounts paid under 
     subsection (a).

     SEC. 9. FINANCIAL ASSURANCES.

       The Secretary shall take such actions as may be necessary 
     to ensure that minting and issuing coins under this Act will 
     not result in any net cost to the United States Government.

     SEC. 10. WAIVER OF COIN PROGRAM RESTRICTIONS.

       The provisions of section 5112(m) of title 31, United 
     States Code, do not apply to the coins minted and issued 
     under this Act.

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