Page:United States Statutes at Large Volume 48 Part 1.djvu/90

 64 73d CONGRESS. SESS. I. CH. 32. MAY 18, 1933 . books, records, files, accounts, plants, warehouses, offices, and all other things, property and places belonging to or under the con- trol of or used or employed by the Corporation, and shall be afforded full facilities for counting all cash and verifying transactions with ca Report in quadruph- and balances in depositaries. He shall make report of each such audit i n quadruplica te, one copy f or the Presid ent of the Uni ted States, one for the chairman of the board, one for public inspection at the principal office of the corporation, and the other to be retained by Ado C orpor atio n. be made by him for the uses of the Congress. The expenses for each such audit may be paid from moneys advanced therefor by the Corpora- tion, or from any appropriation or appropriations for the General Accounting Office, and appropriations so used shall be reimbursed Audits to be charged l A to operation. ll nsuch audit expenses Corporation as charged to e operatingl expenses of Transacti ons con- the Corpor ation. Th e C ompt rol ler Gene ral sha ll m ake spe cial f icting with law. report to the President of the United States and to the Congress of any transaction or condition found by him to be in conflict with the Sale of surplus power powers or duties intrusted to the Corporation by law. to States, etc . SEa. 10 . The board is hereby empowered and authorized to sell the surplus power not used in its operations, and for operation of locks and other works generated by it, to States, counties, inunici- Contractsofsale. palities, corporations, partnerships, or individuals, according to the policies hereinafter set forth ; and to carry out said authority, the board is authorized to enter into contracts for such sale for a term not exceeding twenty years, and in the sale of such current by the Preferences. bo ard it sh all gi ve pref erence to Sta tes, co unties, munic ipaliti es, and cooperative organizations of citizens or farmers, not organized or doing business for profit, but primarily for the purpose of supply Provisos. clause, ing electricity to its own citizens or members : Provided, That all when power sold for contracts made with private companies or individuals for the sale resale at profi t. of power, which power is to be resold for a profit, shall contain a provision authorizing the board to cancel said contract upon five years' notice in writing, if the board needs said power to supply the Elect ricit y on farm s' demands of States, counties, or municipalities. In order to promote and encourage the fullest possible use of electric light and power on Extending transmis- sion lines. farms within reasonable distance of any of its transmission lines the board in its discretion shall have power to construct transmission lines to farms and small villages that are not otherwise supplied with electri city at reaso nable rates, and to make su ch rules and regulations governing such sale and distribution of such electric Experiments to pro- power as in its judgment may be just and equitable : Provided fur- mote use of power. ther, That the board is hereby authorized and directed to make studies, experiments, and determinations to promote the wider and Cooperation with better use of electric power for agricultural and domestic use, or for States, etc. small or local industries, and it may cooperate with State govern- ments, or their subdivisions or agencies, with educational or research institutions, and with cooperatives or other organizations, in the application of electric power to the fuller and better balanced Policy of equitable development of the resources of the region. dis tribution dec lared. SEC. 11. It is hereby declared to be the policy of the Government so far as practical to distribute and sell the surplus power generated Primary benefits for at Muscle Shoals equitably among the States, counties, and munici- domestic use, etc. palities within transmission distance. This policy is further declared to be that the projects herein provided for shall be con- sidered primarily as for the benefit of the people of the section as a whole and particularly the domestic and rural consumers to whom industry, a second. the power can economically be made available, and accordingly that ary purpose. sale to and use by industry shall be a secondary purpose, to be uti- li zed pr incipal ly to s ecure a suffi ciently high load fa ctor an d reve nue