Page:United States Statutes at Large Volume 114 Part 1.djvu/836

 114 STAT. 800 PUBLIC LAW 106-272—SEPT. 22, 2000 (B) if an additional conveyance of land is necessary to equalize the values of land exchanged after the convey- ance of Parcel Two, an appropriate portion of the portion of the Federal parcel comprising approximately 80 acres, known as the "Cache Creek Administrative Site" and located adjacent to the town; and (2) to the Commission, the portion of the Federal parcel, comprising approximately 3.2 acres, depicted on the Map as "Parcel One". (b) REVERSIONARY INTERESTS.— As additional consideration for acceptance by the United States of any offer described in section 4, the United States shall relinquish all reversionary interests in the State parcel, as set forth in the deed between the United States and the State of Wyoming, dated February 19, 1957, and recorded on October 2, 1967, in Book 14 of Deeds, Page 382, in the records of Teton County, Wyoming. SEC. 6. EQUAL VALUE OF INTERESTS EXCHANGED. (a) VALUATION OF LAND TO BE CONVEYED.— (1) IN GENERAL. —The fair market and improvement values of the land to be exchanged under this Act shall be determined— (A) by appraisals acceptable to the Secretary, using nationally recognized appraisal standards; and (B) in accordance with section 206 of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1716). (2) APPRAISAL REPORT. —Each appraisal report shall be written to Federal standards, as defined in the Uniform Appraisal Standards for Federal Land Acquisitions developed by the Interagency Land Acquisition Conference. (3) No EFFECT ON VALUE OF REVERSIONARY INTERESTS.— An appraisal of the State parcel shall not take into consideration any reversionary interest held by the United States in the State parcel as of the date on which the appraisal is conducted. (b) VALUE OF FEDERAL LAND GREATER THAN CONSTRUCTION COSTS.— I f the value of the Federal land to be conveyed to the town under section 5(a)(1) is greater than the construction costs to be paid by the town for the administrative facility described in section 4(a), the Secretary shall reduce the acreage of the Federal land conveyed so that the value of the Federal land conveyed to the town closely approximates the construction costs. (c) VALUE OF FEDERAL LAND EQUAL TO VALUE OF STATE PARCEL. — (1) IN GENERAL. — The value of any Federal land conveyed to the Commission under section 5(a)(2) shall be equal to the value of the State parcel conveyed to the United States under section 4(b). (2) BOUNDARIES. — The boundaries of the Federal land and the State parcel may be adjusted to equalize values. (d) PAYMENT OF CASH EQUALIZATION.—Notwithstanding subsections (b) and (c), the values of Federal land and the State parcel may be equalized by payment of cash to the Secretary, the Commission, or the town, as appropriate, in accordance with section 206(b) of the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1716(b)), if the values cannot be equalized

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