Page:United States Statutes at Large Volume 101 Part 3.djvu/233

 PUBLIC LAW 100-223—DEC. 30, 1987

101 STAT. 1531

(iii) such conveyance by the State of Hawaii shall be subject to receipt of fair market value; and (iv) the proceeds from such conveyance by the State of Hawaii shall be used for airport purposes only, (c) LAREDO INTERNATIONAL AIRPORT, LAREDO, TEXAS.— (1) AUTHORITY TO GRANT RELEASE.—Subject to paragraph (2),

in recognition of the benefits to the public, the city of Laredo, Texas, and its successors and assigns are hereby released from all terms, conditions, reservations, and restrictions contained in the instrument of disposal dated February 21, 1975, by which the United States conveyed the property on which the Laredo International Airport, Laredo, Texas, is located to such city to the extent that such terms, conditions, reservations, and restrictions apply to the portion of such property consisting of approximately 680.1586 acres of land which is designated under the 1985 master plan and land use plan for the Laredo International Airport as being available for nonaviation purposes. (2) CONDITIONS.—The release granted by paragraph (1) shall be subject to the following conditions: (A) All revenues derived from the property to which such release applies shall be used for development, improvement, operation, and maintenance of the Laredo International Airport. I, (B) The use of property to which such release applies shall not interfere with the operation and maintenance of such airport. (C) Property to which such release applies may only be rented or leased if the term of the rental or lease agreement is 20 years or less and if compensation which is not less r. than— (i) Vi of fair market value is received in the case of a 7(1 rental or lease agreement for a term of 10 years or less; and Vi; (ii) Vz of fair market value is received in the case of a rental or lease agreement for a term of more than 10 years. (D) Property to which such release applies may only be transferred if compensation which is equal to or more than fair market value is received. (E) The city of Laredo, Texas, shall provide to the Administrator— (i) an accounting and management plan acceptable to '^ the Administrator for managing the Laredo International Airport general fund; and (ii) an explanation of the management by such city of such general fund in calendar years beginning after December 31, 1977, and ending before the date of the enactment of this Act. (3) IMPLEMENTATION.—The Administrator shall take such action as may be necessary to carry out the provisions of this subsection. SEC. 314. FLIGHT SERVICE STATION IN JUNEAU, ALASKA.

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(a) DESIGNATION.—The Federal Aviation Administration flight grounds. service station located in Juneau, Alaska, shall be known and designated as the "Dave Scheytt Flight Service Station".

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