Page:United States Statutes at Large Volume 60 Part 1.djvu/770

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60 STAT.] 79TH CONG., 20 SESS.-CHS. 709, 710-JULY 31, 1946 SEC. 409. In the application of section 6 of the Railroad Retirement Act of 1937 with respect to persons who were not employers before the enactment of section 1 of this Act, the dates January 1, 1946, and January 1, 1947, shall be substituted for March 1, 1937, and July 1, 1937, respectively. Approved July 31, 1946. [CHAPTER 710] AN ACT To authorize the return of the Grand River Dam project to the Grand River Dam Authority and the adjustment and settlement of accounts between the authority and the United States, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Interior is hereby authorized and directed, notwithstanding the provisions of any other law, to adjust and settle, upon such basis as he may deem just and equitable, the accounts between the United States and the Grand River Dam Authority arising out of (a) the loan and grant agreement between the United States and the Grand River Dam Authority of October 16, 1937, as modified and extended; and (b) the taking of possession and control, and the occupation and use of the Grand River Dam project in Oklahoma under Executive Order Num- bered 8944, dated November 19, 1941, and Executive Order Numbered 9373, dated August 30, 1943, and upon completion of or in connection with such adjustment and settlement to return to the Grand River Dam Authority possession and control of the properties and assets which were taken over by the United States under Executive Order Numbered 8944, so far as such properties and assets may still be held by the United States; and to convey and deliver to the Grand River Dam Authority, for cash, credit, bonds, or property, and upon such other terms as the Secretary of the Interior may deem proper, all right, title, and interest of the United States in and to all or any part of the improvements, additions, and facilities made or added to the Grand River Dam project by the United States during the period of Federal control thereof and such maps, drawings, and other records pertaining thereto as may be agreed upon by him and the Authority. SEC. 2 . In carrying out the authority conferred upon him under section 1 of this Act, the Secretary, in accordance with such agreement as is made between him and the Authority, may- (a) surrender for cancellation the 4 per centum revenue bonds of the Authority, dated April 1 1938, together with the unpaid interest coupons appertaining thereto, now held by the United States, and accept in lieu thereof new revenue bonds of the Authority of such description and cash in such amounts as the Secretary may determine: Provided, That such new bonds shall bear interest at a rate of not less than 21/2 per centum per annum, payable semiannually; (b) cancel, modify, or treat as having been fulfilled the loan and grant agreement of October 16,1937, as modified, and extended, and allow the Authority credit for all or such part of the grant provided for under such loan and grant agreement as he may determine, in his discretion, to be just and equitable; (c) waive and relinquish on behalf of the United States all or such part of the matured interest installments and coupons or accrued interest on the Authority's bonds held by the United States that has matured or accrued during the period of Federal control of the Grand River Dam project as the Secretary may, in his discretion, determine to be just and equitable; and 743 50 Stat. 312. 45U. . C. . 228f. Ante, p. 722. July 31, 1946 [H. R . 5508] [Public Law 573] Grand River Dam project. Return, etc., to Authority. 3CFR,Cum.Supp. , p. 1026; 3 CFR, 1943 Supp., p. 39. Authority of SB e- tary. Surrender of bonds, etc. Modification, etc. of agreement. Waiver, etc., of in- terest installments.