§ 79g. — Contract authorization within prescribed cost limits; installments: duration, interest; provisions for payment of judgments and compromise settlements applicable to judgments against United States.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC79g]
TITLE 16--CONSERVATION
CHAPTER 1--NATIONAL PARKS, MILITARY PARKS, MONUMENTS, AND SEASHORES
SUBCHAPTER VII--REDWOOD NATIONAL PARK
Sec. 79g. Contract authorization within prescribed cost limits;
installments: duration, interest; provisions for payment of
judgments and compromise settlements applicable to judgments
against United States
(a) Notwithstanding any other provision of law, the Secretary shall
have the same authority with respect to contracts for the acquisition of
land and interests in land for the purposes of this subchapter as was
given the Secretary of the Treasury for other land acquisitions by
section 3171 of title 40, and the Secretary and the owner of land to be
acquired under this subchapter may agree that the purchase price will be
paid in periodic installments over a period that does not exceed ten
years, with interest on the unpaid balance thereof at a rate which is
not in excess of the current average market yield on outstanding
marketable obligations of the United States with remaining periods to
maturity comparable to the average maturities on the installments.
(b) Judgments against the United States, including final partial
judgments and compromise settlements of claims referred to the Attorney
General for defense of suits against the United States, for amounts in
excess of the deposit in court in actions under section 79c of this
title shall be paid in accordance with the provisions of section 1304 of
title 31, and section 2414 of title 28. Final partial judgments and
compromise settlements are payable only after certification by the
Attorney General to the Comptroller General that it is in the interest
of the United States to do so.
(Pub. L. 90-545, Sec. 7, Oct. 2, 1968, 82 Stat. 934; Pub. L. 99-151,
title II, Sec. 203, Nov. 13, 1985, 99 Stat. 807.)
Codification
``Section 3171 of title 40'' substituted in subsec. (a) for
``section 34 of the Act of May 30, 1908 (35 Stat. 545; 40 U.S.C. 261)''
on authority of Pub. L. 107-217, Sec. 5(c), Aug. 21, 2002, 116 Stat.
1303, the first section of which enacted Title 40, Public Buildings,
Property, and Works.
Amendments
1985--Subsec. (b). Pub. L. 99-151, in amending subsec. (b)
generally, inserted provisions relating to final partial judgments and
compromise settlements, substituted reference to actions under section
79c of this title for reference to condemnation actions, and deleted
reference to section 2517 of title 28.
