One of members who is also working with us in Noble 7 Revolution sent me this below. There is also almost the same wording in Title 31 just not sure which section.
Noble 7 is about to get started real soon, like in the next couple of weeks. I
promise you this will be the biggest event that I ever have been involoved in. |
42 U.S. Code § 3535 - Administrative provisions (k)Gifts and services, acceptance; taxable status of property; investments; disbursements
(1) The Secretary is authorized to accept and utilize voluntary and uncompensated services and accept, hold, administer, and utilize gifts and bequests of property, both real and personal, for the purpose of aiding or facilitating the work of the Department. Gifts and bequests of
money and the proceeds from sales of other property received as gifts or bequests shall be deposited in the Treasury in a separate fund and shall be disbursed upon order of the Secretary. Property accepted pursuant to this paragraph, and the proceeds thereof, shall be used as nearly as possible in accordance with the terms of the gift or bequest.
(2) For the purpose of Federal income, estate, and gift taxes, property accepted under paragraph (1) shall be considered as a gift or bequest to or for use of the United States.
(3) Upon the request of the Secretary, the Secretary of the Treasury may invest and reinvest in securities of the United States or in
securities guaranteed as to principal and interest by the United States any moneys contained in the fund provided for in paragraph (1). Income accruing from such securities and from any other property held by the Secretary pursuant to paragraph (1) shall be deposited to the credit of the fund and shall be disbursed upon order of the Secretary.
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