Page:United States Statutes at Large Volume 58 Part 2.djvu/438

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1358 Establishment as a free port. Approval of plans and estimates. 55 Stat. 31 . 22 U. 8. C., Snpp. III, t§ 411-419. Ante, p. 222. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [58 STAT. AmTCLE 3 The Government of the Republic of Liberia agrees to the estab- lishment of the port as a free port, or foreign trade zone, to be op- erated for the mutual benefit of the United States of America and the Republic of Liberia and all nations with which the United States of America and the Republic of Liberia maintain friendly relations, under such conditions and by such means as may be henceforth pro- vided. The Government of the Republic of Liberia undertakes to make available, without cost, to the operating company provided for in Article 5 such land and rights in land as may be necessary for the construction of the free port and such land and rights in land con- tiguous to the port site as may be necessary for the efficient operation, maintenance and protection of the free port. ARTCLE 4 Upon approval of the plans and estimates, as prescribed in Article 2, the contracting company shall, with the assent of the administrative agency of the Government of the United States of America which is or may be authorized and empowered to administer the provisions of the Act of the Congress of the United States of America approved March 11, 1941, proceed with the construction of the port and port works and access roads as soon as practicable, under the direction of American engineers. ArTICLE 5 Contract for opera- Prior to the construction of the port and port works and access tion of port during pe- riod of amortization roads, a contract shall be entered into between the Government of the Republic of Liberia and an American company, duly incorporated in the United States of America or in the Republic of Liberia and approved by the Government of the United States of America, for the operation of the port during the full period of amortization, as shall be hereinafter provided, commencing from the date of com- pletion of the port and port works and access roads or from such earlier date as the port is able to begin receiving ships and cargo. RBoarreP"sentactons on The said contract shall provide for adequate and equitable representa- Port Authority. tion by the Government of the Republic of Liberia on any Board of Directors or Port Authority which may be set up for the operation of the port. amortingtiontspan- Provision shall be made in the aforesaid contract for the payment, ments. from revenues of the port, of the administrative and other costs of operating the port and for annual payments in amortization of the funds made available by the Government of the United States of America for the construction of the port and port works and access roads, excluding any installations which may be constructed under POp.. Article 7 of this Agreement. Such annual payments shall be paid by the operating company to the Government of the Republic of Liberia for transmission to the Government of the United States of America and shall be computed on the basis of such agreed per-