Page:United States Statutes at Large Volume 48 Part 1.djvu/86

 60 Construction co n- tracts to stipulate pay- ments at pr eva ili ng rate of wages. Wage disputes to be referred to the Secre- tary of Labor ; decision final. Due regard for col- lective agreements. Work done dire ctly by Corporation. Injuries to Govern- ment employees. Benefits of act re- specting, extended. Vol.39,p. 742. U.S.C.,p.76. Corporate powers . T reasu rer and a ssist - a nts to be selected ; sur ety bonds. Proviso. Removal of board members. R ight of emin ent domain . Holding as agent of United States. S ites for dams, powe r houses, etc. Condemnation pro - ceedings. 73d CONGRESS. SESS. I. CH. 32. MAY 18, 1933 . shall receive a salary in excess of that received by the members of the board. All contracts to which the Corporation is a party and which require the em ployment of l aborers and m echanics in th e construc- tion, alteration, maintenance, or repair of buildings, dams, locks, or other projects shall contain a provision that not less than the prevailing rate of wages for work of a similar nature pre- vailing in the vicinity shall be paid to such laborers or mechanics. In the event any dispute arises as to what are the prevailing rates of wages, the question shall be referred to the Secretary of Labor for determination, and his decision shall be final. In the deter- mination of such prevailing rate or rates, due regard shall be given to those rates which have been secured through collective agreement by representatives of employers and employees. Where such work as is described in the two preceding paragraphs is done directly by the Corporation the prevailing rate of wages shall be paid in the same manner as though such work had been let by contract. Insofar as applicable, the benefits of the Act entitled "An Act to provide compensation for employees of the United States suffering injuries while in the performance of their duties, and for other purposes," approved September 7, 1916, as amended, shall extend to persons given employment under the provisions of this Act. SEC. 4 . Except as otherwise specifically provided in this Act, the Corporation- (a) Shall have succession in its corporate name. (b) May sue and be sued in its corporate name. (c) May adopt and use a corporate seal, which shall be judicially noticed. (d) May make con tracts, as he rein authorize d. (e) May adopt, amend, and repeal bylaws. (f) May purchase or lease and hold such real and personal property as it deems necessary or convenient in the transaction of its business, and may dispo se of any suc h personal pro perty held by it. The board shall select a treasurer and as many assistant treas- urers as it deems proper, which treasurer and assistant treasurers shall give such bonds for the safe-keeping of the securities and moneys of the said Corporation as the board may require : Provided, That any member of said board may be removed from office at any time by a concurrent resolution of the Senate and the House of Repr esen tati ves. (g) Shall have such powers as may be necessary or appropriate for the exercise of the powers herein specifically conferred upon the Corporation. (h) Shall have power in the name of the United States of Amer- ica to exercise the right of eminent domain, and in the purchase of any real estate or the acquisition of real estate by condemnation proceedings, the title to such real estate shall be taken in the name of the United States of America, and thereupon all such real estate shall be entrusted to the Corporation as the agent of the United States to accomplish the purposes of this Act. (i) Shall have power to acquire real estate for the construction of dams, reservoirs, transmission lines, power houses, and other structures, and navigation projects at any point along the Tennessee River, or any of its tributaries, and in the event that the owner or owners of such property shall fail and refuse to sell to the Corpora- tion at a price deemed fair and reasonable by the board, then the Corporation may proceed to exercise the right of eminent domain,