...Corporation may deem necessary or desirable to enhance the marketability of said bonds. "(b) Bonds isued by the Corporation hereunder shall not be obligations...interest thereon be guaranteed by, the United States. "(c) Bonds issued by the Corporation under this section shall be negotiable instruments unless otherwise...

...days, while Congress is in H single session, elapses without the passage of a concurrent resolution disapproving such construction. "(b) Bonds issued...power operations and the expenditure of such proceeds - h.-i N not be subject to apportionment under the provisions of Revised Statutes 3679, as amended...

...service them. I call your attention to the language of the bills, page 3, lines 22-24, as follows : Bonds issued by the corporation hereunder shall not...interest thereon be guaranteed by, the United States. This provision sounds good, but the extent of the protection it would afford the taxpayers can best...

...the United States." [Emphasis supplied.] Interestingly enough, the proposed legislation provides that "Bonds issued by the corporation hereunder shall not...interest thereon be guaranteed by, the United States." It is evident that the borrowing that would be authorized by these bills is not borrowing on the credit...

...not a separate legal entitl, it could not possibly have the provision on page 5, line 13, which says: Bonds issued by the corporation hereunder shall not...thereof or interest thereon be guaranteed by. the Uinted States. Mr. MCCARTHY. The bonds certainly will be secured under the bill only by TVA's revenues....

...and retained earnings. Such obligations of the Corporation shall not be obligations of, nor shall the payment of the principal thereof or interest thereon be guaranteed by, the United States, and the Corporation shall insert appropriate language in all of its obligations issued under this subsection...

...is explicit in the bill, sir. Mr. CHAIRMAN. Yes, on page 9, commencing on line 16, "Such obligations shall not be obligations of, nor shall payment of...interest thereon be guaranteed by, the United States," — period. You do exempt the United States in that regard. Mr. MORRIS. The bill, as drawn, does, sir....

...Corporation before maturity in such manner as may be stipulated in the obligations. Such obligations shall not be obligations of, nor shall payment of...interest thereon be guaranteed by, the United States, and such obligations shall clearly so indicate. The Corporation is authorized to purchase in the open...

...power-producing projects, shall not be subject to the requirements or limitations of any other law. <1>) Bonds issued by the Corporation hereunder shall not...Proceeds realized by the Corporation from issuance of snch bonds and from power operations and the expenditure of such proceeds shall not be subject to apportionment...

..."Such bonds shall pledge the full faith and credit of the Authority, but shall not be the obligation of, nor shall payment of the principal thereof or...interest thereon be guaranteed by, the United States." It is my understanding that the obligations of the Authority would not become an obligation. The present...