627 



compensate the adverse impacts in the coastal zone resulting from or likely to 

 result from the exploration for, or the development of production of, energy re- 

 sources of the Outer Continental Shelf. 



"(b) The Secretary shall prescribe and collect a guarantee fee in connection 

 with guarantees made pursuant to this section. Such fees shall not exceed such 

 amounts as the Secretary estimates to be necessary to cover the administrative 

 costs of carrying out the provisions of this section. Sums realized from such 

 fees shall be deposited in the Treasury as miscellaneous receipts. 



"(c) (1) Payments required to be made as a result of any guarantee pursuant to 

 this section shall be made by the Secretary of the Treasury from funds hereby 

 authorized to be appropriated in such amounts as may be necessary for such 

 purpose. 



"(2) If there is a default by a State or local government in any payment of 

 principal or interest due under a bond or other evidence of indebtedness guaran- 

 teed by the Secretary pursuant to this section, any holder of such a bond or other 

 evidence of indebtedness may demand payment by the Secretary of the unpaid 

 interest on and the unpaid principal of such obligation as they become due. The 

 Secretary, upon investigation, shall pay such amounts to such holders, unless 

 the Secretary finds that there was no default by the State or local government 

 involved or that such default has been remedied. If the Secretary makes a pay- 

 ment under this paragraph, the United States shall have a right of reimbursement 

 against the State or local government involved for the amount of such payment 

 plus interest at prevailing rates. Such right of reimbursement may be satisfied 

 by the Secretary by treating such amount as an offset against any revenues due 

 or to become due to such State or local government under section 308 (k) of this 

 Act and the Attorney General, upon the request of the Secretary, shall take such 

 action as is, in the Secretary's discretion, necessary to protect the interests of 

 the United States, including the recovery of previoiisly paid funds that were not 

 applied as provided in this Act. However, if the funds accrued by or due to the 

 State in automatic grants under section 308 (k) of this Act are insufficient to 

 reimburse the Federal Government in full for funds paid under this section to 

 retire either the principal or interest on the defaulted bonds, the Secretary's 

 right of reimbursement shall be limited to the amount of such automatic grants 

 accrued or due. Funds accrued in automatic grauts under section 308 (k) of this 

 Act subsequent to default shall be applied by the Secretary toward the reimburse- 

 ment of the obligation assumed by the Federal Government.". 



Sec. 103. (a) There shall be in the National Oceanic and Atmospheric Adminis- 

 tration an Associate Administrator for Coastal Zone Management who shall be 

 appointed by the President, by and with the advice and consent of the Senate. 

 Such Associate Administrator shall be a qualified individual who is, by reason 

 of background and experience, especially qualified to direct the implementation 

 and administration of this Act. Such Associate Administrator shall be compen- 

 sated at the rate now or hereafter provided for level V of the Executive Schedule 

 Pay Rates (5 U.S.C. 5316). 



(b) Section 5316 of title 5, United States Code is amended by adding at the 

 end thereof the following new paragraph : 



"(135) Associate Administrator for Coastal Zone Management, National 

 Oceanic and Atmo.spherie Administration.". 



^ The Presiding Officer. The time for debate on this measure is 

 limited to 2 hours, to be equally divided between and controlled bv the 

 Senator from South Carolina (Mr. Hollings) and the Senatoi- from 

 Alaska (Mr. Stevens), with 1 hour on any amendntent and 20 minutes 

 on any debatable motion, appeal, or point of order. 



Mr. Hollings. Mr. President, I ask unanimous consent that the fol- 

 lowino; members of the staff of the Committee on Commerce be granted 

 privileo^es of the floor durin<y consideration of S. 586 : Jolm F. Hussev, 

 James P. Walsh. Pamela Baldwin, Alan Rosenblum, David Txoson- 

 blum, Jill Gideon, and S. Lynn SutcHffe, and I ask unanimous consent, 

 that Mary Jo Manning of my staff also be accorded such privileges. 



The Presiding Officer. Without objection, it is so ordered. 



Mr. Ste\t=:ns. Mr. President. I ask unanimous consent that the fol- 

 lowing membei-s of the minoritv staff of the Committee on CommcT-ce 



