Page:United States Statutes at Large Volume 112 Part 4.djvu/742

 112 STAT. 2681-713 PUBLIC LAW 105-277—OCT. 21, 1998 to and amendatory of that Act (43 U.S.C. 371 - > et seq.). (II) No LIABILITY.—The operation of the Reservoir by the Secretary in fulfillment of the duties described in subclause (I) shall not result in liability for damages, direct or indirect, to the owner of any property conveyed under section 4(a) or damages from any loss of use or enjo3anent of the property. (C) HISTORICAL USE. —The Secretary, the purchaser, CFRA, and each subsequent owner of each property shall covenant that future uses of the property shall be limited to the type and intensity of uses in existence on the date of enactment of this Act, as limited by the prohibitions contained in the annual operating plan of the Bureau of Reclamation for the Reservoir in effect on October 1, 1998. (c) PURCHASE PROCESS. — (1) IN GENERAL.— The Secretary shall— (A) solicit sealed bids for the properties; (B) subject to paragraph (2), sell the properties to the bidder that submits the highest bid above the minimum bid determined under paragraph (2); and (C) not accept any bid for less than all of the properties in 1 transaction. (2) MINIMUM BID. — (A) IN GENERAL.—Before accepting bids, the Secretary shall establish a minimum bid, which shall be equal to the fair market value of the properties determined by an appraisal of each property, exclusive of the value of private improvements made by the leaseholders before the date of the conveyance, in conformance with the Uniform Appraisal Standards for Federal Land Acquisition. (B) FAIR MARKET VALUE.— Any dispuste over the fair market value of a property under subparagraph (A) shall be resolved in accordance with section 2201.4 of title 43, Code of Federal Regulations. (3) RIGHT OF FIRST REFUSAL.— If the highest bidder is other than CFRA, CFRA shall have the right to match the highest bid and purchase the properties at a price equal to the amount of the highest bid. (d) TERMS OF CONVEYANCE. — (1) PURCHASER.—I f the highest bidder is other than CFRA, and CFRA does not match the highest bid, the following shall apply: (A) PAYMENT.— The purchaser shall pay the amount bid to the Secretary for distribution in accordance with section 6. (B) CONVEYANCE.—The Secretary shall convey the properties to the purchaser. (C) OPTION TO PURCHASE.— The purchaser shall give each lessee of a property conveyed vmder this section an option to purchase the property at fair market value, as determined under subsection (c)(2). (D) NONPURCHASING LESSEES. — (i) RIGHT TO CONTINUE LEASE.—A lessee that is unable or unwilling to purchase a property shall be provided the opportunity to continue to lease the

�