UNITED NATIONS (AP) _ The United States and Britain presented a new U.N. resolution Monday that would transfer ``governing authority'' in Iraq to a sovereign interim government by June 30 and authorize a multinational force to maintain peace with Iraq consent.

The draft resolution would give the new Iraqi government the right to review the mandate of the multinational force and control over its oil and gas resources and a fund now in the hands of the United States and Britain where oil revenue has been deposited.

Declaring their determination for a new start for Iraq, the United States and Britain state clearly in the resolution that by June 30, their occupation will end and the Coalition Provisional Authority will ``cease to exist.'' It makes no mention, however, of the Iraqi Governing Council.

The resolution was formally introduced at a closed-door meeting of the U.N. Security Council, which has held three informal sessions to discuss critical elements needed in a blueprint for post-occupation Iraq.

Council ambassadors heading into the meeting, who had received advanced copies of the draft, reacted positively.