39 U.S.C. § 2006

Relationship between the Treasury and the Postal Service

Read at: OLRCuscode.house.gov CornellLII GovInfogovinfo.gov JustiaTitle 39 CasesGoogle Scholar

(a) At least 15 days before selling any issue of obligations under section 2005 or 2011 of this title, the Postal Service shall advise the Secretary of the Treasury of the amount, proposed date of sale, maturities, terms and conditions, and expected maximum rates of interest of the proposed issue in appropriate detail and shall consult with him or his designee thereon. The Secretary may elect to purchase such obligations under such terms, including rates of interest, as he and the Postal Service may agree, but at a rate of yield no less than the prevailing yield on outstanding marketable Treasury securities of comparable maturity, as determined by the Secretary. If the Secretary does not purchase such obligations, the Postal Service may proceed to issue and sell them to a party or parties other than the Secretary upon notice to the Secretary and upon consultation as to the date of issuance, maximum rates of interest, and other terms and conditions.(b) Subject to the conditions of subsection (a) of this section, the Postal Service may require the Secretary of the Treasury to purchase obligations of the Postal Service under section 2005 in such amounts as will not cause the holding by the Secretary of the Treasury resulting from such required purchases to exceed $2,000,000,000 at any one time. This subsection shall not be construed as limiting the authority of the Secretary to purchase obligations of the Postal Service under section 2005 in excess of such amount.(c) Notwithstanding section 2005(d)(5) or 2011(e)(4)(E) of this title, obligations issued by the Postal Service shall be obligations of the Government of the United States, and payment of principal and interest thereon shall be fully guaranteed by the Government of the United States, such guaranty being expressed on the face thereof, if and to the extent that—(1) the Postal Service requests the Secretary of the Treasury to pledge the full faith and credit of the Government of the United States for the payment of principal and interest thereon; and(2) the Secretary, in his discretion, determines that it would be in the public interest to do so.(Pub. L. 91–375, Aug. 12, 1970, 84 Stat. 741; Pub. L. 109–435, title IV, § 401(b)(4), Dec. 20, 2006, 120 Stat. 3225.)Editorial NotesAmendments

2006—Subsec. (a). Pub. L. 109–435, § 401(b)(4)(A), inserted “or 2011” after “section 2005” in first sentence.

Subsec. (b). Pub. L. 109–435, § 401(b)(4)(B), inserted “under section 2005” before “in such amounts” in first sentence and before “in excess of such amount.” in second sentence.

Subsec. (c). Pub. L. 109–435, § 401(b)(4)(C), inserted “or 2011(e)(4)(E)” after “section 2005(d)(5)”.

Statutory Notes and Related SubsidiariesEffective Date

Section effective July 1, 1971, pursuant to Resolution No. 71–9 of the Board of Governors. See section 15(a) of Pub. L. 91–375, set out as a note preceding section 101 of this title.

Notes of Decisions

Cited in 6 cases (1 in the last 5 years), 1982–2022 · leading case: Aleia L. Robinson v. Marvin T. Runyon, Postmaster Gen., United States Postal Serv., 149 F.3d 507 (6th Cir. 1998).

Sort: Relevance Newest Treatment

Aleia L. Robinson v. Marvin T. Runyon, Postmaster Gen., United States Postal Serv., 149 F.3d 507 (6th Cir. 1998). “It has uniquely governmental powers such as the authority to borrow money backed by the full faith and credit of the United States Government, 39 U.S.C. § 2006 (c), the right of eminent domain, 39 U.”

Bernard L. Silver, Cartwright-Mitchell, Inc., a Delaware Corp. v. United States Postal Serv., 951 F.2d 1033 (9th Cir. 1991). “39 U.S.C. § 2006 (c). The Postal Service must annually submit a budget to the Office of Management and Budget.”

Hill, Christopher & Phillips, P. C. v. United States Postal Serv., 535 F. Supp. 804 (D.D.C. 1982). “39 U.S.C. § 2006 (c) (1976). 28 . S.Rep.No.”

Scope of Treasury Dep't Purchase Rights With Respect to Fin. Initiatives of the U.S. Postal Serv. (OLC 1995). · cites it 7× “Postal Service bond issue pursuant to 39 U.S.C. § 2006 (a) prior to the proposed date of issuance and is pursuing good- faith negotiations towards such purchase as o f such date, the USPS is not free to proceed with issuance o f the bonds to other purchasers solely because…”

Corlan Romel Phillips Custodianship v. United States Treasury (S.D. Ind. 2022). “Plaintiff's Complaint is legally frivolous because it claims that Plaintiff sent Defendant an obligation under 39 U.S.C. § 2006 , but this statute provides only for the United States Postal Service to require the Secretary of the Treasury to purchase obligations of the Postal…”

Auth. of the Sec'y of the Treasury Regarding Postal Serv. Bond Offering (OLC 1993). · cites it 2× “The Postal Service gave notice to the Secretary of the Treasury o f its intent to market these bonds, as required by 39 U.S.C. § 2006 (a), on October 7, 1992.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.