PUBLIC LAWS-CI. 403-AUG. 8, 1949
Lease of property by
armed services.
10 U. S. C., Supp.
II, §5 1270-1270b, 270d;
34 U. S. C., Supp. II,
§§ 522a-522c, 522e.
Sale, etc., of prop-
erty.
Ante, p. 57 .
Nonapplicability to
Alaska.
Taxation of real
property.
Rules and regula-
tions.
48 Stat. 1246, 1247.
12 (J. S. ('., Supp.
II, §§ 1702, 1706.
P'ost, 1p.905.
53 Stat. 807.
12 U. S .C. I 1715e(a).
48 Stat. 1252.
12 U. S. C., Supp.
11, § 1716 (a).
Post, p . 906.
10 U. S. C., Supp.
II,§1269;34U.S.C.,
Supp. II, J 553a.
or claim assigned to the Commissioner and from any property acquired
by the Commissioner, and all earnings on the assets of the Military
Housing Insurance Fund, shall be credited to the Military Housing
Insurance Fund. The principal of and interest paid and to be paid
on debentures issued in exchange for any mortgage or property insured
under this title, cash adjustments, and expenses incurred in the han-
dling of such mortgages or property and in the foreclosure and collec-
tion of mortgages and claims assigned to the Commissioner under
this title, shall be charged to the Military Housing Insurance Fund.
"SEC. 805. Whenever the Secretary of the Army, Navy, or Air Force
determines that it is desirable to lease real property within the mean-
ing of the Act of August 5, 1947 (61 Stat. 774), to effectuate the pur-
poses of this title, the Secretary concerned is authorized to lease such
property under the authority of said Act upon such terms and con-
ditions as in his opinion will best serve the national interest without
regard to the limitations imposed by said Act in respect to the term
or duration of the lease, and the power vested in the Secretary of the
Department concerned to revoke any lease made pursuant to said
Act in the event of a national emergency declared by the President shall
not apply. Whenever the Secretary of the Army, Navy, or Air
Force determines it to be in the interest of national defense, he is hereby
authorized to sell, transfer, and convey at fair value (as determined
by him), for use under this title, all or any right, title, and interest
in any real property under his jurisdiction, notwithstanding any limi-
tations or requirements of law with respect to the use or disposition
of such property. The authority conferred by this section shall be
in addition to and not in derogation of any other power or authority
of the Secretary of the Army, Navy, or Air Force.
"SEC. 806. The second sentence of section 214 of the National Hous-
ing Act, as amended, relating to housing in the Territory of Alaska,
shall not apply to mortgages insured under this title on property in
said Territory.
"SEC. 807. Nothing in this title shall be construed to exempt any
real property acquired and held by the Commissioner under this title
from taxation by any State or political subdivision thereof, to the
same extent, according to its value, as other real property is taxed.
"SEC. 808. The Commissioner is authorized and directed to make
such rules and regulations as may be necessary to carry out the pro-
visions of this title."
SEC. 2 . Sections 1 and 5 of the National Housing Act, as amended,
are further amended by striking out the words "titles II, III, VI, and
VII"' each time they appear and inserting in lieu thereof the words
"titles II, III, VI, VII, and VIII".
SEC. 3 . Section 212 (a) of said Act, as amended, is further amended
by striking out the words "effective date of this section," and inserting
in lieu thereof the words "effective date of this section, or under title
VIII,".
SEC. 4. Section 301 (a) of said Act, as amended, is further
amended-
(1) By striking out of paragraph (1) the words "under title II,
or title VI' and inserting in lieu thereof the words "under title II,
title VI, or title VIII"; and
(2) By striking out the period and adding the following proviso
at the end of paragraph (1) (E): ": Provided, That such aggregate
amount paid by the Association shall not include any amount paid
by it for a mortgage or mortgages which are insured under title VIII
of this Act; and".
SEC. 5. (a) Section 1 of the Act of July 30, 1947 (61 Stat. 675), is
hereby amended to read as follows:
576
[63 STAT.
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