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U.S. Code as of:
01/19/04
Section 1141b. General powers of Farm Credit Administration
The Farm Credit Administration -
(1) shall maintain its principal office within the Washington,
D.C.-Maryland-Virginia standard metropolitan statistical area,
and such other offices in the United States as in its judgment
are necessary.
(2) shall have an official seal which shall be judicially
noticed.
(3) shall make an annual report to Congress upon the
administration of this chapter and any other matter relating to
the better effectuation of the policy declared in section 1141 of
this title, including recommendations for legislation.
(4) may make such regulations as are necessary to execute the
functions vested in it by this chapter.
(5) may appoint and fix the salaries of a secretary and such
experts, and, in accordance with chapter 51 and subchapter III of
chapter 53 of title 5, and subject to the provisions of the civil
service laws, such other officers and employees as are necessary
to execute such functions.
(6) may make such expenditures (including expenditures for rent
and personal services at the seat of government and elsewhere,
for law books, periodicals, and books of reference, and for
printing and binding) as are necessary to execute such functions.
Expenditures by the administration shall be allowed and paid upon
the presentation of itemized vouchers therefor approved by the
governor of the administration.
(7) may sell at public or private sale to the highest
responsible bidder, upon such terms and after such public
advertisement as the Farm Credit Administration may deem in the
public interest, any property, real or personal, or any interest
therein, acquired by the United States on account of or as a
result of any loans made from the revolving fund authorized by
section 1141d of this title; may lease any such property, pending
its sale, on such terms and for such period, not in excess of
five years, as the Farm Credit Administration may deem in the
public interest; and may incur and pay, from the said revolving
fund, obligations and expenses for the operation, upkeep,
maintenance, repair, disposition, insurance, and protection of
any such property: Provided, That section 5 of title 41 shall not
be construed to apply to any purchase or service on account of
such property.
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