[Congressional Record Volume 148, Number 98 (Thursday, July 18, 2002)]
[Senate]
[Pages S7039-S7040]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. SANTORUM (for himself and Mr. SPECTER):
  S. 2755. A bill to require the Secretary of the Treasury to mint 
coins in commemoration of the opening of the National Constitution 
Center in Philadelphia, Pennsylvania scheduled for

[[Page S7040]]

July 4, 2003; to the Committee on Banking, Housing, and Urban Affairs.
  Mr. SANTORUM. Mr. President I am pleased to introduce legislation 
along with my colleague Senator Specter to establish a one dollar 
silver coin that will benefit the National Constitution Center in 
Philadelphia, PA.
  As the first national center of its kind in the country, the National 
Constitution Center will promote understanding of the United States 
Constitution and its values. The events of the past year in our nation 
as well as recent judicial rulings have brought increased attention to 
those principles and values that define and bind us as Americans. All 
would agree that the United States Constitution is central to defining 
our country, who we are, and how we live as Americans. Even as we often 
debate in the halls of Congress and the Supreme Court those policies 
and laws that best reflect the values and intent of the Constitution, 
we all recognize the freedoms and opportunity that this remarkable 
document secures for us.
  The National Constitution Center has been an important project in 
Philadelphia with which Senator Specter and I have been involved. 
Construction began on September 17, 2000. When the Constitution Center 
is completed as expected on July 4, 2003, it will be a key feature of a 
revitalized Independence Mall where it will join Independence Hall and 
the Liberty Bell. The issuance of this coin would coincide with the 
opening of the Center.
  I encourage all of my colleagues to support the National Constitution 
Center by cosponsoring this bill.
  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:
       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 ``National Constitution Center 
     Commemorative Coin Act of 2002''.

     SEC. 2. FINDINGS.

       Congress finds that--
       (1) a Constitutional Convention was convened in the summer 
     of 1787 in Philadelphia, Pennsylvania for the purposes of 
     replacing the failed Articles of Confederation as a framework 
     for governing the 13 American colonies newly independent from 
     Great Britain;
       (2) the United States Constitution produced by the 
     Convention would set the United States of America on a unique 
     course of experiment in self-government that would profoundly 
     impact the United States and the world;
       (3) in its deliberations and promotion through such 
     literary works as The Federalist Papers, the United States 
     Constitution drew upon the successes and failures of nations 
     and peoples dating as far back as the city-state republics of 
     ancient Greece in forming representative governments;
       (4) the first 10 amendments to the Constitution, known as 
     the Bill of Rights, comprise the best written set of legal 
     protections of the rights and dignity of the individual in 
     the history of human civilization and continue to be the 
     benchmark for nations' adherence to human rights standards;
       (5) the principles of the United States Constitution have 
     been enacted into the governing laws of numerous free 
     countries around the globe, and are reflected in the founding 
     documents of the United Nations;
       (6) the United States Constitution created the framework 
     for what is now the oldest representative democracy in the 
     world;
       (7) in its wisdom, the Constitutional Convention created a 
     mechanism through which the United States Constitution can be 
     perfected, as it has been 27 times to date, to better reflect 
     its founding ideals, as well as to accommodate changing 
     circumstances;
       (8) the rights and freedoms secured to Americans by the 
     United States Constitution have and continue to draw millions 
     from around the globe to the shores of this Nation;
       (9) all Americans should gain an understanding of and 
     appreciation for the United States Constitution and the role 
     this remarkable document plays in the freedoms and quality of 
     life they enjoy;
       (10) the National Constitution Center was established by 
     the Constitution Heritage Act of 1988 (16 U.S.C. 407aa et 
     seq.), which was signed into law by President Ronald Reagan 
     on September 16, 1988, to provide for continuing 
     interpretation of the Constitution and to establish a 
     national center for the United States Constitution; and
       (11) the National Constitution Center, located at the site 
     of the birth of the Constitution, only steps away from the 
     Liberty Bell and Independence Hall in the Independence 
     National Historic Park in Philadelphia, Pennsylvania, is the 
     only center in the world solely dedicated to promoting 
     understanding of the Constitution and its values and ideals.

     SEC. 3. COIN SPECIFICATIONS.

       (a) $1 Silver Coins.--The Secretary of the Treasury (in 
     this Act referred to as the ``Secretary'') shall mint and 
     issue not more than 500,000 $1 coins, 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.
       (b) Legal Tender.--The coins minted under this Act shall be 
     legal tender, as provided in section 5103 of title 31, United 
     States Code.

     SEC. 4. SOURCES OF BULLION.

       The Secretary may obtain silver for minting coins under 
     this Act from stockpiles established under the Strategic and 
     Critical Materials Stock Piling Act, to the extent available, 
     and from other available sources, if necessary.

     SEC. 5. DESIGN OF COINS.

       (a) Design Requirements.--
       (1) In general.--The design of the coins minted under this 
     Act shall be emblematic of the National Constitution Center 
     in Philadelphia, Pennsylvania.
       (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) Design Selection.--The design for the coins minted 
     under this Act shall be--
       (1) selected by the Secretary, after consultation with the 
     Constitution Center Coin Advisory Committee; and
       (2) reviewed by the Citizens Commemorative Coin Advisory 
     Committee.

     SEC. 6. ISSUANCE OF COINS.

       (a) Quality of Coins.--Coins minted under this Act shall be 
     issued in uncirculated and proof qualities.
       (b) Mint Facility.--Only 1 facility of the United States 
     Mint may be used to mint coins under this Act.
       (c) Period for Issuance.--The Secretary may issue coins 
     minted under this Act beginning on January 1, 2003, and 
     ending when the quantity of coins issued under this Act 
     reaches the limit under section 3(a).

     SEC. 7. SALE OF COINS.

       (a) Sale Price.--The coins minted 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 of coins issued under this Act 
     shall include a surcharge established by the Secretary, in an 
     amount equal to not more than $10 per coin.

     SEC. 8. DISTRIBUTION OF SURCHARGES.

       (a) In General.--Subject to section 5134(f) of title 31, 
     United States Code, the proceeds from the surcharges received 
     by the Secretary from the sale of coins minted under this Act 
     shall be paid promptly by the Secretary to the National 
     Constitution Center.
       (b) Use of Proceeds.--The proceeds received by the National 
     Constitution Center under subsection (a) shall be used by the 
     Center to promote a greater understanding of the Constitution 
     and its values and ideals.
       (c) Audits.--The Comptroller General of the United States 
     shall have the right to examine such books, records, 
     documents, and other data of the National Constitution Center 
     as may be related to the expenditures of amounts paid under 
     subsection (a).

     SEC. 8. FINANCIAL ASSURANCES.

       (a) No Net Cost to the Government.--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.
       (b) Payment for Coins.--A coin shall not be issued under 
     this Act, unless the Secretary has received--
       (1) full payment for the 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, the deposits of 
     which are insured by the Federal Deposit Insurance 
     Corporation or the National Credit Union Administration.
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