World Legislative Bill Number Seven

Adopted by the Second Session of the Provisional World Parliament meeting in New Delhi, India, in March, 1985

WORLD GOVERNMENT FUNDING CORPORATION

WHEREAS:

The People of Earth are confronted, today, with many extreme and inter-related problems. Whether we survive or perish depends on the effectiveness with which solutions to these problems are devised and carried out during the coming decades.

But effective solutions are impossible so long as nations insist on the continuance of national sovereignty, or on consultative institutions based on national sovereignty, as the framework within which to negotiate and manage those affairs which transcend national boundaries.

Peaceful and effective solutions to the major problems concerned with human survival and progress on Earth, require that those solutions be designed and carried out within the framework of an adequate World Federation and non-military democratic world government. Solutions now ready for ratification and implementation include, among others, the following:

• The Constitution for the Federation of Earth;
• A series of sessions of a Provisional World Parliament, continuing until the Constitution for the Federation of Earth has been ratified by a sufficient number of countries;
• World Legislative Bill #1, which outlaws nuclear weapons and other weapons of mass destruction, and provides for the organization and functioning of a World Disarmament Agency;
• World Legislative Bill #2, which provides for a World Economic Development Organization, including the design for a new world finance and credit system based on potential productive capacity rather than past savings;
• World Legislative Bill #6, which provides for an Emergency Earth Rescue Administration, to prevent climatic and environmental catastrophe in time to avert the onset of a new ice age.
• Plans for an Earth Rescue Corps, to mobilize the support and participation necessary for ratification and implementation of the Consitution for the Federation of Earth, and of the specific solutions mentioned above, together with solutions to other world problems within the context of world federation and world government.

To obtain the acceptance and implementation of all parts of the comprehensive plan of action outlined above, requires a very massive global campaign. To carry out such a campaign requires adequate funding, in terms of hundreds of millions of dollars, far beyond the financial capacity of those persons who have envisioned and initiated this course of action.

THEREFORE:

Article One

A World Government Funding Corporation is hereby created for the following purposes:

A.  To obtain loans and contributions from both public and private sources;

B.  To disburse grants and payments to various agencies which will work to achieve a democratic non-military, world federation and federal world government and will work to design and implement peaceful solutions to world problems in the context of an emerging world federation and non-military democratic world government.

C.  To arrange for repayment of all loans of $500 or more by the Treasury of the soon-to-be established World Government.

D.  The total upper limit of loans to be repaid shall not exceed $50,000,000,000 (U.S. Dollars).

E.   For purposes of launching the world Government Funding Corporation, the aim is to obtain a minimum of $100,000 (U.S. Dollars) quickly.

Article Two

Loans to the World Government Funding Corporation, which may be called Earth Rescue Loans, and contributions, shall be sought from the following sources:

A. National Governments;

B. Cities, towns, local and regional governments, particularly those which ratify World Legislative Bills #1 or #6;

C. Private Corporations;

D. Non-governmental organizations and associations;

E. Individuals;

F. Loans may be contracted as lump sums, or as annual subscriptions over a period of years.

Article Three

The World government Funding Corporation (WGFC) shall make grants and disbursements in such manner in the judgement of the Directors and Officers of the WGFC as shall best serve and help to achieve the purposes of the WGFC. In particular, the WGFC shall make grants and disbursements to the following agencies, and to carry out the following activities, but not limited thereto:

Agencies

World Constitution and Parliament Association; Earth Rescue Corps; Provisional World Parliament; World Constitutent Assembly; World Disarmament Agency; Emergency Earth Rescue Administration; World Economic Development Organization; Graduate School of World Problems; Provisional World Cabinet; Provisional District World Courts; Other agencies established under legislation of the Provisional World Parliament, or pursuant to the Constitution for the Federation of Earth; Emerging Agencies of the Integrative complex.

Activities

Ratification and implementation of the constitution for the Federation of Earth;

Ratification and implementation of World Legislative Bill #1, to outlaw nuclear weapons and other weapons of mass destruction, and establish a World Disarmament Agency;

Ratification and implementation of World Legislative Bill #2, for a World Economic Development Organization;

Ratification and implementation of World Legislative Bill #6, to recapture excess carbon dioxide in the atmoshere, and to save the environment;

Implementation of other world legislation adopted by the Provisional World Parliament.

Article Four

Repayment of the loans of $500 or more made to the World government Funding Corporation shall be managed as follows:

Sec. 1   The Provisional World Parliament authorizes and directs the Treasury of the World Government, when established under the Constitution for the Federation of Earth (or under any other Constitution for World Government) to assume all loans made to the World Government Funding Corporation, up to a total of $50,000,000,000 (U.S. dollars), and to begin the repayment of such loans plus interest as soon as the Constitution for the Federation of Earth (or any other Constitution for World Government) has been ratified by 50 countries, and the Treasury of the World Government has an income of $20,000,000,000 (U.S. dollars) per year. Repayment may be scheduled over a 20 year period. Interest paid shall be paid on all loans to the WGFC at the rate of 10% per year on the unpaid principal balance, plus bonus interest if any, and limited to 10 years accrual from the date the loan is made. No interest shall be paid until payment on principal begin.

Sec. 2   To further assure the repayment of the loans made to the WGFC, this Provisional World Parliament recommends to the next session of the World Constituent Assembly, that the Constitution for the Federation of Earth be amended (under Article 7, Sec. C-28; Article 8, Sec. G; and Article 17, Sec. D) to make the assumption and repayment of loans to the WGFC mandatory by the Treasury of the World Government, as specified above.

Sec. 3   All agencies and sources making loans to the WGFC shall be fully advised of the conditional nature of repayments.

Sec. 4   In order to encourage and obtain the first loans to the World Government Funding Corporation, the original incorporators and/or Board of Directors are authorized to devise and put into effect a downwardly graduated scale of additional annual interest above 10% to be paid to the makers of the first loans to the World Government Funding Corporation, up to a loan total of one billion dollars. The additional interest paid for the first million of loans and for the next $200,000,000 of loans may be substantially more than for subsequent loans up to the one billion limit of loans which may receive bonus interest. Repayment of loans receiving bonus interest will be subject to the same conditions as for later loans, as defined under Art. 4, Sec. 1.

Article Five

The organizational and operating structure of the World Government Funding Corporation shall include a Board of Directors, Officers, and Executive Committee, a Directorate, and a Central Bank.

Sec.1 The Board of Directors of the World Government Funding Corporation shall be composed as follows:

A. The original incorporators of the WGFC, to serve 10 years.

B. Up to 12 Directors to be named by the original incorporators, to serve terms of two years.

C. Up to 100 Directors to be named by the sources of funding, to serve terms of two years, on the basis of one Director for each $10,000,000 (U.S. Dollars) of loans made to the WGFC over a 5 year period. A loan subscription of $2,000,000 per year for 5 years shall constitute the right to name one Director. Sources making or subscribing to less than $10,000,000 in loans to the WGFC over a 5 year period may join with other sources in the same category to elect a Director for each combination of loans of $10,000,000. For purposes of this section, source categories shall be: National Governments; Towns, cities and political units less than national governments; private corporations; non-governmental organizations; and individuals.

D. Any vacancy on the Board of Directors shall be filled by the originating source for that particular Director.

E. The Board of Directors shall adopt all necessary bylaws and rules for the proper functioning of the World Government Corporation.

Sec. 2   Officers of the WGFC shall be elected by the Board of Directors, and shall include a President, two vice Presidents, a Secretary, a Treasurer, the Executive Director for the Directorate, and the Managing Director for the Central Bank. Officers shall serve terms of 2 years, and may be re-elected for succeeding terms.

Sec. 3   The Executive Committee shall be composed of the Officers, the Original Incorporators, and up to 10 additional members to be elected by the Board of Directors from among their own number. The Executive committee shall make all necessary decisions between meetings of the entire Board.

Sec. 4   A directorate headed by an Executive Director shall be established in Colorado, U.S.A., and shall be entrusted with the overall implementation of the purposes of the World Government Funding Corporation, subject to the decisions of the Board of Directors and of the Executive Committee.

In particular, the Directorate shall give directions to the Central Bank of the WGFC for the disbursement of grants and funds of the WGFC; and shall receive weekly reports from the Central Bank of the WGFC on receipts and disbursements, together with recommendations. The directions for disbursements must be in conformity with basic guidelines established by the Board of Directors of the WGFC. Any grant or disbursement of $1,000,000 or more to a single agency or entity must be specifically approved by either the Executive Committee or the entire Board of Directors.

The location of the Directorate may be changed by decision of the Board of Directors, providing that a majority of the original incorporators agree. The Executive Director of the Directorate shall be chosen by the Board of Directors, with agreement by a majority of the original incorporators, and shall serve as an ex-officio Officer and member of the Board.

Sec. 5   A Central Bank for the WGFC shall be established in a country most suitable for the receipt of loans and funds from all over the world, and for the disbursement of grants and payments all over the world, under the conditions of minimum difficulties in respect to regulations, taxes, currency conversions, and political freedom. Decision on location of the Central Bank is to be made by decision of the Provisional World Parliament, or by decision of the Original Incorporators.

The head of the Central Bank shall be a General Manager chosen by the Board of Directors, with the agreement of a majority of the Original Incorporators, and shall be an ex-officio Officer and Member of the Board.

The Central Bank of the WGFC shall receive loans and funds from all sources, and shall make grants and disbursements under the direction of the Directorate. The Central Bank shall make weekly reports, including recommendations, to the Directorate. The books and accounts of the Central Bank shall be reviewed by the Board of Directors quarterly; and shall be audited semi-annually by an independent accounting firm chosen by the Board of Directors, and may be audited at any other time upon decision of the Board of Directors, or of the Executive Committee.

Sec. 6   Applications for grants from the WGFC shall be made to the Directorate, with duplicate copies sent to the Central Bank.

Sec. 7   Meetings of the Board of Directors and of the Executive Committee, in order to comprise a quorum, must include at least one of the original incorporators.

Article Six

A prestigious Advisory Board, and/or Honorary Financial Sponsors, of up to 300 respected persons from many countries shall be formed to give credibility, status and stability to the World Government Funding Corporation. Persons to compose the Advisory Board shall be invited by the Original Incorporators.

Article Seven

To begin the World Government Funding Corporation, the following steps shall be taken:

Sec. 1   Incorporation of the WGFC shall be made by three persons who must be completely dedicated to the purposes of the World Government Funding Corporation, as defined herein.

Sec. 2   Obtain from $50,000 to $100,000 or more as "start-up" money to get the plan for the World Government Funding corporation into operation.

Sec. 3   Seek the committment of the first five national governments to support the WGFC with immediate loans (or contributions) totaling $5,000,000, together with pledges or subscriptions to increase their loans (or contributions) to a total of $50,000,000 over a five year period. The total of pledges or subscriptions by the first five may be conditional on obtaining similar support from an additional five national governments.

Sec. 4   As an early priority, make grants to get the work of the Earth Rescue Corps underway, since the Earth Rescue Corps is the key to getting the total program effectively underway.

ADDENDUM: PRIORITY CONTRIBUTIONS

Getting From Here to There

As things now stand, it is not possible to solicit or receive loans which are to be repaid by a future world government, because Securities and Exchange regulations might interpret such a plan as fraudulent no matter how clearly the conditions of repayment are described - since the world government does not yet exist. At the same time, national governments sell bonds to pay for nuclear weapons and other military programs, which are claimed necessary for national security. National governments promise to repay such bonds, but if the weapons are used in a world war, most people on Earth will be killed, and the bonds will never be repaid. This appears to be quite fraudulent, compared with selling bonds to pay to establish a world government - which, if achieved, can maintain world peace. Despite the inconsistency, we cannot at this moment offer a repayment plan until some national governments agree to participate until some national governments agree to participate in the plan.

To reach the stage of government participation, we propose to start by asking for contributions instead of loans; that is, to ask for PRIORITY CONTRIBUTIONS. Our first budget goal is $200,000. Two hundred people (who are already paying for war) each contributing only $2.74 a day for a year can easily enable us to reach the goal of $200,000. With the first $200,000, our aim is to carry the action forward to the stage of participation by the first several national governments, that is, to the budget stages of $200,000 and $50,000,000.

When five national governments join the plan, the original "Priority Contributions" may then be given priority consideration for possible conversion to loans or the proposed debenture bonds of the World Government Funding Corporation, and thus qualify for repayment - with bonuses - by the future world government, as described above. But until five national governments decide to join this plan to achieve world government, the priority contributions will remain as contributions, with no claim for repayment.

So, to start, it is necessary to find a few people who are willing to take the risk that some national governments can be persuaded to join this plan, as outlined under World Legislation Bill #6. We will, in fact, be presenting this plan very actively to selected national governments during the next few years. As to the risk factor, without world government everybody is already risking everything, because without world government war is likely very soon to destroy all.

So, why not risk a little bit - for example $2.74 a day for a year ($1,000) - to build on what we have already accomplished, which if successful can both assure survival on Earth, and also pay nice bonuses to those who give early financial support?