; and (4) select and effect the appointment of qualified persons to fill the office of the Chief Executive Officer and such other offices as may be provided for in the bylaws of the Holding Company and the Infrastructure Bank for America established under section 3. (c) Treatment of shareholders of the formation agent The formation agent shall issue equity securities of the Holding Company to each shareholder of the formation agent, in an amount that the formation agent determines has a value equal to the value of equity securities of the formation agent held by such shareholder upon the establishment of the Holding Company. (d) Earnings and reserves not government funds The earnings and reserves of the Holding Company shall be the sole property of the Holding Company and may not be construed to be Government funds, public funds, or appropriated money. 3. Establishment of the Infrastructure Bank for America (a) In general The formation agent shall establish a corporation to be known as the Infrastructure Bank for America (in this Act referred to as the Bank ). The Bank shall— (1) maintain its principle office in New York City or the District of Columbia