[Congressional Record Volume 149, Number 64 (Thursday, May 1, 2003)]
[Senate]
[Pages S5667-S5668]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. WARNER (for himself and Mr. Allen):
  S. 976. A bill to provide for the issuance of a coin to commemorate 
the 400th anniversary of the Jamestown settlement; to the Committee on 
Banking, Housing, and Urban Affairs.
  Mr. WARNER. Mr. President, I rise today to introduce legislation, 
along with my colleague, Senator Allen, to mint a commemorative coin 
celebrating the 400th anniversary of the founding of Jamestown, VA in 
2007.
  The lasting significance of Jamestown stretches far beyond its 
contributions to the Commonwealth of Virginia. Our Nation is indebted 
to the 104 original inhabitants of Jamestown who, after completing a 
harrowing journey across the Atlantic in May of 1607, established the 
first permanent English settlement in America.
  The legacies of Jamestown extend from the founding of our 
representative democracy in which we serve today, to the free market 
enterprise system on which our economy has flourished. Our unshakeable 
traditions of common law, agricultural production, manufacturing, and 
our free market economy received their humble beginnings from the 
entrepreneurial spirit of the Jamestown colonists.
  The colonists established and implemented the principles of a 
representative government to build our American democracy that has 
withstood the test of time and internal conflict. The Jamestown 
settlers elected America's first democratic assembly, the Virginia 
House of Burgesses. The structure and procedures of this first 
legislative body still resonates in the chamber we serve in today. Our 
political philosophies and traditions took hold in the untamed 
landscape of Jamestown Island and remain the cornerstone of our 
republic today.
  Jamestown also marked the beginning of the American cultural 
identity, hosting a combination of diverse cultural traditions. The 
settlement united English, Native American, and African cultures 
compelling each one to learn valuable lessons from the others. The 
colonists at Jamestown were the first immigrants to travel to America, 
making us a nation of immigrants of which we are so proud today.
  The colony at Jamestown showcased the triumph of American ingenuity 
and hard work. Colonists at Jamestown were forced to battle starvation, 
disease, and the weather of their new home. Life in Jamestown was a 
struggle, and the determination shown by the colonists set the 
foundation for the revolutionary ideas that guided Americans through 
the colonial era.
  Now 395 years later, the history of our Nation continues to come 
alive in Jamestown. Since 1994, archaeologists have found the remains 
of the original Jamestown fort constructed in 1607 and over 350,000 
artifacts from the colonial period. These fascinating discoveries have 
given scholars, visitors, and most importantly, America's young people, 
a realistic view of 17th century American life. The continuing 
restoration and discovery of the original Jamestown colony provides all 
Americans with a window on their roots, and to the foundation on which 
this great Nation was built.
  The proceeds from this commemorative coin will help both the National 
Park Service and the Association for the Preservation of Virginia 
Antiquities continue their research at the Jamestown site, complete 
necessary construction projects at the Jamestown National Park, and 
provide funds for events surrounding the 400th anniversary celebration. 
In addition, this legislation would help ensure that the Jamestown 
Rediscovery project will have adequate funds to continue educating the 
American public on our colonial history. In the 106th Congress, the 
House and Senate created the Jamestown 400th Commemoration Commission 
to ensure that the anniversary in 2007 is a truly national event. This 
legislation that I introduce today continues along this same line.
  Recent events have brought about a renewed reverence and interest in 
our nation's history among the American people. This legislation would 
help bring national attention to this important anniversary and would 
serve as a fitting tribute to America's first permanent settlers. This 
event celebrates America's colonial history and gives every American a 
chance to help support America's Hometown, Jamestown, VA.
  I ask my colleagues in the Senate to join me in supporting our 
Nation's and Virginia's colonial traditions with this important 
legislation. I ask unanimous consent that the text of this legislation 
be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                 S. 976

       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 ``Jamestown 400th Anniversary 
     Commemorative Coin Act of 2003''.

     SEC. 2. FINDINGS.

       Congress finds that--
       (1) the founding of the colony at Jamestown, Virginia in 
     1607, the first permanent English colony in America, and the 
     capital of Virginia for 92 years, has major significance in 
     the history of the United States;

[[Page S5668]]

       (2) the Jamestown settlement brought people from throughout 
     the Atlantic Basin together to form a multicultural society, 
     including English, other Europeans, Native Americans, and 
     Africans;
       (3) the economic, political, religious, and social 
     institutions that developed during the first 9 decades of the 
     existence of Jamestown continue to have profound effects on 
     the United States, particularly in English common law and 
     language, cross cultural relationships, manufacturing, and 
     economic structure and status;
       (4) the National Park Service, the Association for the 
     Preservation of Virginia Antiquities, and the Jamestown-
     Yorktown Foundation of the Commonwealth of Virginia 
     collectively own and operate significant resources related to 
     the early history of Jamestown;
       (5) in 2000, Congress established the Jamestown 400th 
     Commemoration Commission to ensure a suitable national 
     observance of the Jamestown 2007 anniversary and to support 
     and facilitate marketing efforts for a commemorative coin, 
     stamp, and related activities for the Jamestown 2007 
     observances;
       (6) a commemorative coin will bring national and 
     international attention to the lasting legacy of Jamestown, 
     Virginia; and
       (7) the proceeds from a surcharge on the sale of such 
     commemorative coin will assist the financing of a suitable 
     national observance in 2007 of the 400th anniversary of the 
     founding of Jamestown, Virginia.

     SEC. 3. COIN SPECIFICATIONS.

       (a) $5 Gold Coins.--The Secretary of the Treasury (in this 
     Act referred to as the ``Secretary'') shall issue not more 
     than 100,000 $5 coins, which shall--
       (1) weigh 8.359 grams;
       (2) have a diameter of 0.850 inches; and
       (3) contain 90 percent gold and 10 percent alloy.
       (b) $1 Silver Coins--The Secretary shall issue not more 
     than 500,000 $1 coins, which shall--
       (1) weigh 26.73 grams;
       (2) have a diameter of 1,500 inches; and
       (3) contain 90 percent silver and 10 percent copper.
       (c) Legal Tender.--The coins minted under this Act shall be 
     legal tender, as provided in section 5103 of title 31, United 
     States Code.
       (d) Numismatic Items.--For purposes of section 5132(a)(1) 
     of title 31, United States Code, all coins minted under this 
     Act shall be considered to be numismatic items.
       (e) Sources of Bullion.--
       (1) Gold.--The Secretary shall obtain gold for minting 
     coins under this Act pursuant to the authority of the 
     Secretary under section 5116 of title 31, United States Code.
       (2) Silver.--The Secretary shall obtain silver for the 
     coins minted under this Act only from stockpiles established 
     under the Strategic and Critical Minerals Stock Piling Act 
     (50 U.S.C. 98 et seq.).

     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 settlement of Jamestown, 
     Virginia, the first permanent English settlement in America.
       (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 ``2007''; and
       (C) inscriptions of the words ``Liberty'', ``In God We 
     Trust'', ``United States of America'', and ``E Pluribus 
     Unum''.
       (b) Design Selection.--Subject to subsection (a), the 
     design for the coins minted under this Act shall be--
       (1) selected by the Secretary after consultation with--
       (A) the Jamestown 2007 Steering Committee, created by the 
     Jamestown-Yorktown Foundation of the Commonwealth of 
     Virginia;
       (B) the National Park Service; and
       (C) the Commission of Fine Arts; and
       (2) reviewed by the Citizens Commemorative Coin Advisory 
     Committee.

     SEC. 5. 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 strike any particular quality of the 
     coins minted under this Act.
       (c) Period for Issuance.--The Secretary may issue coins 
     minted under this Act only during the period beginning on 
     January 1, 2007, and ending on December 31, 2007.

     SEC. 6. 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 (c) 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) 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.
       (c) Bulk Sales.--The Secretary shall make bulk sales of the 
     coins minted under this Act at a reasonable discount.
       (d) Surcharge.--All sales of coins minted under this Act 
     shall include a surcharge of--
       (1) $35 per coin for the $5 coin; and
       (2) $10 per coin for the $1 coin.

     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) Recipients.--
       (1) In general.--All surcharges received by the Secretary 
     from the sale of coins minted under this Act shall be 
     promptly paid by the Secretary to the recipients listed under 
     paragraphs (2) and (3).
       (2) Jamestown-yorktown foundation.--The Secretary shall 
     distribute 50 percent of the surcharges described under 
     paragraph (1) to the Jamestown-Yorktown Foundation of the 
     Commonwealth of Virginia, to support programs to promote the 
     understanding of the legacies of Jamestown.
       (3) Other recipients.--
       (A) In general.--The Secretary shall distribute 50 percent 
     of the surcharges described under paragraph (1) to the 
     entities specified under subparagraph (B), in equal shares, 
     for the purposes of--
       (i) sustaining the ongoing mission of preserving Jamestown;
       (ii) enhancing the national and international educational 
     programs;
       (iii) improving infrastructure and archaeological research 
     activities; and
       (iv) conducting other programs to support the commemoration 
     of the 400th anniversary of Jamestown.
       (B) Entities specified.--Entities specified under this 
     subparagraph are--
       (i) the Secretary of the Department of the Interior;
       (ii) the President of the Association for the Preservation 
     of Virginia Antiquities; and
       (iii) the Chairman of the Jamestown Yorktown Foundation.
       (b) Audits.--The Comptroller General of the United States 
     shall have the right to examine such books, records, 
     documents, and other data of the entities specified in 
     subsection (a), as may be related to the expenditure of 
     amounts distributed under subsection (a).

     SEC. 9. 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.
                                 ______