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U.S. Code as of:
01/19/04
Section 831w. Acquisition of real or personal property; payment by delivery of power; sale or lease of vacant land for industrial purposes
For the purpose of securing any rights of flowage, or obtaining
title to or possession of any property, real or personal, that may
be necessary or may become necessary, in the carrying out of any of
the provisions of this chapter, the President of the United States
for a period of three years from May 18, 1933, is authorized to
acquire title in the name of the United States to such rights or
such property, and to provide for the payment for same by directing
the board to contract to deliver power generated at any of the
plants now owned or hereafter owned or constructed by the
Government or by said Corporation, such future delivery of power to
continue for a period not exceeding thirty years. Likewise, for one
year after May 18, 1933, the President is further authorized to
sell or lease any parcel or part of any vacant real estate now
owned by the Government in said Tennessee River Basin, to persons,
firms, or corporations who shall contract to erect thereon
factories or manufacturing establishments, and who shall contract
to purchase of said Corporation electric power for the operation of
any such factory or manufacturing establishment. No contract shall
be made by the President for the sale of any of such real estate as
may be necessary for present or future use on the part of the
Government for any of the purposes of this chapter. Any such
contract made by the President of the United States shall be
carried out by the board: Provided, That no such contract shall be
made that will in any way abridge or take away the preference right
to purchase power given in this chapter to States, counties,
municipalities, or farm organizations: Provided further, That no
lease shall be for a term to exceed fifty years: Provided further,
That any sale shall be on condition that said land shall be used
for industrial purposes only.
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