Page:United States Statutes at Large Volume 60 Part 1.djvu/914

This page needs to be proofread.


60 STAT.] 79TH CONG., 2D SESS.-CHS. 790, 791-AUG. 7, 1946 on December 30, 1941, by the Department of the Navy, and on Decem- ber 20, 1945, declared by the Department of the Navy to be surplus to its needs and responsibilities; and (B) to convey and sell, to the former owner or owners authorized under this section to be the lessee under the reinstated leasehold, all of the right, title: and interest in and to such hotel, land, buildings, utilities, furnishings, and equip- ment, which existed in the person who was the lessee prior to such acquisition by the Department of the Navy. The former owner or Formerowner. owners for the purposes of this section shall be either (i) those persons who on December 30, 1941, owned bonds to secure payment of which the property was then held by a trustee, and who, within sixty days after the date of first publication of notice in a newspaper of general circulation in the county in which the property is situated, as herein- after provided, commit themselves, in such manner as the War Assets Administrator may prescribe, to participate in the acquisition of the property, the participation by each such person to be in the proportion which the face amount of the bonds owned by such person on December 30, 1941, is of the aggregate face amount of such bonds owned by all of the participants, or (ii) a corporation all of the shares of which (except qualifying shares) are owned in like proportion by the per- sons making such commitments. Notice of the right of such persons Notice. to have the benefits of this section shall be given by publication in the Federal Register, publication in a newspaper of general circulation in the county in which the property is situated, and by any other means which may be deemed appropriate by the War Assets Admin- istrator. The leasehold shall contain the same terms and conditions Terms and ondi- as that which was in effect immediately prior to the acquisition of the tions property by the Department of the Navy, and upon the reinstatement thereof shall be subject to all of the provisions of Public Resolution 71, Sixty-seventh Congress (42 Stat. 843), as if such acquisition by the Department of the Navy had not taken place. The consideration Acqusition price to be paid to the United States for reinstating such leasehold and for such conveyance and sale to the former owner or owners shall be a price not greater than that for which the property was acquired by the United States. Such acquisition price being properly adjusted to reflect any increase or decrease in the value of the property resulting from action by the United States, or a price equal to the market price at the time of sale, whichever price is the lower. This section shall Time lmitaton. cease to be in effect unless, within six months from the date of the enactment of this Act, the former owner or owners pay or tender the consideration prescribed in this section for the reinstatement of the leasehold and for such conveyance and sale. Approved August 7, 1946. [CHAPTER 791] AN ACT August 7, 146 To establish and provide for the maintenance and operation of a Veterans' Can- [H. R. 68 36] teen Service in the Veterans' Administration, and for other purposes. [Pubic Law 636] Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That there is hereby jterns' C an teen established in the Veterans' Administration an instrumentality of the United States to be known as the Veterans' Canteen Service, hereinafter called the Service, for the primary purpose of making available to veterans of the armed forces of the United States who are hospitalized or domiciled in hospitals and homes of the Veterans' Administration, at reasonable prices, articles of merchandise and services essential to their comfort and well-being. 887