---
kind: "range"
citation: "20 U.S.C. §§ 54–57"
title: "20"
from: "54"
to: "57"
count: 4
release: "119-102"
url: "https://uscodex.org/usc/20/54..57"
---

# §54. Appropriation of interest


So much of the property of James Smithson as has been received in money, and paid into the Treasury of the United States, being the sum of $541,379.63, shall be lent to the United States Treasury and invested in public debt securities with maturities requested by the Smithsonian Institution bearing interest at rates determined by the Secretary of the Treasury, based upon current market yields on outstanding marketable obligations of the United States of comparable maturities, and this interest is hereby appropriated for the perpetual maintenance and support of the Smithsonian Institution; and all expenditures and appropriations to be made, from time to time, to the purposes of the Institution shall be exclusively from the accruing interest, and not from the principal of the [fund](/usc/20/4702.md?p=3). All the moneys and stocks which have been, or may hereafter be, received into the Treasury of the United States, on account of the [fund](/usc/20/4702.md?p=3) bequeathed by James Smithson, are hereby pledged to refund to the Treasury of the United States the sums hereby appropriated.


# §55. Acceptance of other sums


The Secretary of the Treasury is authorized and directed to receive into the Treasury, on the same terms as the original bequest of James Smithson, such sums as the Regents may, from time to time, see fit to deposit, not exceeding, with the original bequest, the sum of $1,000,000. This shall not operate as a limitation on the power of the Smithsonian Institution to receive money or other property by gift, bequest, or devise, and to hold and dispose of the same in promotion of the purposes thereof.


# §56. Disposal of unappropriated money


The Regents are authorized to make such disposal of any other moneys which have accrued, or shall hereafter accrue, as interest upon the Smithsonian [fund](/usc/20/4702.md?p=3), not herein appropriated, or not required for the purposes herein provided, as they shall deem best suited for the promotion of the purpose of the testator.


# §57. Disbursements


Whenever money is required for the payment of the debts or performance of the contracts of the institution, incurred or entered into in conformity with the provisions of sections [41 to 46](/usc/20/41..46.md), [48](/usc/20/48.md), [50](/usc/20/50.md), [51 to 53](/usc/20/51..53.md), [54 to 57](/usc/20/54..57.md), and [67](/usc/20/67.md) of this title, or for making the purchases and executing the objects authorized by said sections, the [Board](/usc/20/4702.md?p=2) of Regents, or the executive committee thereof, may certify to the chancellor and secretary of the [board](/usc/20/4702.md?p=2) that such sum of money is required, whereupon they shall examine the same, and, if they shall approve thereof, shall certify the same to the proper [officer](/usc/20/1094.md?p=i-5) of the Treasury for payment. The [board](/usc/20/4702.md?p=2) shall submit to Congress, at each session thereof, a report of the operations, expenditures, and condition of the institution.