UNITED STATES MILITARY ACADEMY BICENTENNIAL COMMEMORATIVE COINS.

SEC. 207. UNITED STATES MILITARY ACADEMY BICENTENNIAL COMMEMORATIVE COINS. (a) Coin Specifications.— (1) One dollar silver coins.— (A) Issuance.—The Secretary shall issue not more than 500,000 $1 coins, which shall weigh 26.73 grams, have a diameter of 1.500 inches, and shall contain 90 percent silver and 10 percent copper. (B) Design.—The design of the $1 coins shall be emblematic of the United States Military Academy and its motto “Duty, Honor, Country”. On each such coin there shall be a designation of the value of the coin, an inscription of the year “2002”, and inscriptions of the words “Liberty”, “In God We Trust” “United States of America” and “E Pluribus Unum”. (2) Legal tender.—The coins issued under this section shall be legal tender as provided in section 5103 of title 31, United States Code. (b) Sources of Bullion.—The Secretary shall obtain silver for the coins minted under this section only from stockpiles established under the Strategic and Critical Materials Stock Piling Act. (c) Selection of Design.—The design of the coins minted under this section shall be selected by the Secretary after consultation with the Commission of Fine Arts and the Bicentennial Steering Group, Association of Graduates, United States Military Academy. As required by section 5135 of title 31, United States Code, the designs shall also be reviewed by the Citizens Commemorative Coin Advisory Committee. (d) Issuance of the Coins.— (1) Quality and mint facility.—The coins authorized under this section may be issued in uncirculated and proof qualities and shall be struck at the United States Bullion Depository at West Point. 108 STAT. 2376 (2) Period for issuance.—The Secretary shall issue coins minted under this section during the period beginning on March 16, 2002, and ending on March 16, 2003. (3) Sunset provision.—No coins shall be minted under this section after December 31, 2002. (e) Sale of the Coins.— (1) Sale price.—The coins issued under this section shall be sold by the Secretary at a price equal to the sum of the face value of the coins, the surcharge provided in paragraph (4) with respect to such coins, and the cost of designing and issuing such coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping). (2) Bulk sales.—The Secretary shall make bulk sales available at a reasonable discount. (3) Prepaid orders.—The Secretary shall accept prepaid orders for the coins prior to the issuance of such coins. Sales under this paragraph shall be at a reasonable discount. (4) Surcharge required.—All sales shall include a surcharge of$10 per coin. (f) General Waiver of Procurement Regulations.—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 section. Nothing in this subsection shall relieve any person entering into a contract under the authority of this section from complying with any law relating to equal employment opportunity. (g) Distribution of Surcharges.—The total surcharges collected by the Secretary from the sale of the coins issued under this section shall be promptly paid by the Secretary to the Association of Graduates, United States Military Academy to assist the Association of Graduates’ efforts to provide direct support to the academic, military, physical, moral, and ethical development programs of the Corps of Cadets, United States Military Academy. (h) Audits.—The Comptroller General of the United States shall have the right to examine such books, records, documents, and other data of the Association of Graduates, United States Military Academy as may be related to the expenditure of amounts paid under subsection (g). (i) Numismatic Public Enterprise Fund.—The coins issued under this section are subject to the provisions of section 6134 of title 31, United States Code, relating to the Numismatic Public Enterprise Fund. (j) Financial Assurances.— (1) No net cost to the government.—The Secretary shall take all actions necessary to ensure that the issuance of the coins authorized by this section shall result in no net cost to the United States Government. (2) Adequate security for payment required.—No coin shall be issued under this section unless the Secretary has received— (A) full payment therefor; (B) security satisfactory to the Secretary to indemnify the United States for full payment; or (C) a guarantee of full payment satisfactory to the Secretary from a depository institution whose deposits are insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration Board.