A/RES/1739(XVI) GA

60 General Assembly-Sixteenth ~ion Other members: Annual salary . . . . . . . . . . . . . . . . . . . . . . . . 25,000 Ad hoe judges referred to in Article 31 of the Statute of the Court: Allowance of $45 for each day on which they exercise their functions, plus a daily subsistence allowance. 1086th plenary meeting, 20 December 1961. 1739 (XVI). The United Nations financial position and prospects The General Assembly, Having taken note of the statement made by the Acting Secretary-General at the 899th meeting of the Fifth Committee, on 11 December 1961, concerning the United Nations financial position and prospects,44 Bearing in mind the activities and programmes of work of the United Nations that have been approved by the General Assembly, Recognizing that the ability of the United Nations to discharge its responsibilities and to implement its pro- grammes requires it to have adequate and assured financial resources, Considering that, under existing circumstances, ex- traordinary financial meastires are required and that such measures should not be deemed a precedent for the future financing of the expenses of the United Nations, l. Authorizes the Secretary-General to issue United Nations bonds in accordance with the terms and condi- tions set forth in the annex to the present resolution; 2. Further authorizes the Secretary-General, subject to such decisions as the General Assembly may here- after adopt, to utilize the proceeds from the sale of such bonds for purposes normally related to the Work- ing Capit::-1 Fund; 3. Decides to include annually in the regular budget of the United Nations, beginning with the budget for the financial year 1963, an amount sufficient to pay the interest charges on such bonds and the instalments of principal due on the bonds. 1086th plenary meeting, 20 December 1961. ANNEX TERMS AND CONDITIONS GOVERNING THE ISSUE OF UNITED NATIONS BONDS 1. The aggregate principal amount of the United Nations bonds authorized under General Assembly resolution 1739 (XVI) of 20 December 1961 (hereinafter called the bonds) shall be limited to the equivalent of $US 200,000,000. 2. Bonds may be issued expressed in United States dollars (hereinafter called dollars) and in such other currencies as the Secretary-General shall determine. The principal of, and interest .. Ibid., document A/C.5/907. on, any bond shall be payable in the currency in which such bond is expressed. 3. In order to determine the dollar equivalent, for the purpose of paragraph 1 above, of any bond which has been issued expressed in a currency other than dollars, the principal amount of such bond shall be translated, as at the date on which such bond shall be sold or agreed to be sold, into do!lars at such rates as the Secretary-General, after consultation with the Managing Director of the International Monetary Fund, shall determine. 4. The bonds shall bear interest at the rate of 2 per cent per annum, payable annually, on the principal amount thereof outstanding and unpaid from time to time. 5. The principal amount of each bond shall be repayable in twenty-five annual instalments in accordance with the follow- ing table: Per cent At the end of the first year........................ 3.1 At the end of the second year..................... 3.2 At the end of the third year. . . . . . . . . . . . . . . . . . . . . . . 3.2 At the end of the fourth year.. . . . . . .. . . .. .. . . . . . . 3.3 At the end of the fifth year....................... 3.4 At the end of the sixth year...................... 3.4 At the end of the seventh year.................... 3.6 At the end of the eighth year..................... 3.6 At the end of the ninth year...................... 3.6 At the end of the tenth year. . . . . . . . . . . . . . . . . . . . . . 3.7 At the end of the eleventh year. . . . . . . . . . . . . . . . . . . . 3.8 At the end of the twelfth year.................... 3.9 At the end of the thirteenth year. . . . . . . . . . . . . . . . . . 4.0 At the end of the fourteenth year.. . . . . . . . . . . . . . . . . 4.0 At the end of the fifteenth year................... 4.2 At the end of the sixteenth year................... 4.2 At the end of the seventeenth year................ 4.2 At the end of the eighteenth year.. . . . . . . . . . . . . . . . . 4.4 At the end of the nineteenth year.................. 4.5 At the end of the twentieth year. . . . . . . . . . . . . . . . . . 4.5 At the end of the twenty-first year..... . . . . • . . . . . . . 4.7 At the end of the twenty-second year.... . . . . . . . . . . 4.7 At the end of the twenty-third year................ 4.8 At the end of the twenty-fourth year. . . . . . . . . . . . . . 4.9 At the end of the twenty-fifth year. . . . . . . . . . . . . . . . 5.1 100.0 6. The United Nations may at any time prepay at par all or part of the principal amount of the bonds remaining out- standing and unpaid. Partial prepayment shall be applied equally and ratably to all the bonds outstanding and shall be credited against annual instalments of repayments in inverse order of maturity. 7. The bonds shall be offered to States Members of the United Nations and members of the specialized agencies and of the International Atomic Energy Agency, as well as to the official institutions of such members, and, if the Secretary- General, with the concurrence of the Advisory Committee on Administrative and Budgetary Questions, shall so determine, to non-profit institutions or associations. 8. The bonds may be sold in whole or in part from time to time until 31 December 1962, provided, however, that the Secre- tary-General may, at any time on or before that date, enter agreements to sell bonds for delivery after that date and on or before 31 December 1963. 9. The Secretary-General shall, after consultation with the ~dvisory Co_mmittee on Administrative and Budgetary Ques- t10ns, from time to time issue such regulations not inconsistent with the foregoing paragraphs, and take a~y and all such further action as may be necessary to carry out the purpose of the above resolution.

UN Project. “A/RES/1739(XVI).” UN Project, https://un-project.org/votes/resolution/A-RES-1739(XVI)/. Accessed .

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