§ 831w. — Acquisition of real or personal property; payment by delivery of power; sale or lease of vacant land for industrial purposes.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC831w]
TITLE 16--CONSERVATION
CHAPTER 12A--TENNESSEE VALLEY AUTHORITY
Sec. 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.
(May 18, 1933, ch. 32, Sec. 24, 48 Stat. 69.)
