Page:United States Statutes at Large Volume 50 Part 1.djvu/915

 890 Transfer of housing or slum-clearance projects to Authority. Funds. Principal office ; branches. General corporate provisions. Seal. Franki ng pri vilege. Tax exemption pro- vision. Expenditures au- thorized. Contracts and pur- chases. It. S. ° 3709. 41U.S.C.°5. 75TH CONGRESS, 1sT SESSION-CH. 89 6-S EPT EMB ER 1, 19 37 tion with the utilization of such services, the Authority may make rea sona ble paym ents for nec essa ry t rave ling and oth er e xpen ses. (d) The President may at any time in his discretion transfer to the Authority an y right, inte rest, or titl e held by any department or agency of th e Federal Gov ernment in an y housing or s lum-clearance projects (constructed or in process of construction on the date of enactment of this Act), any assets, contracts, records, libraries, research materials, and other property held in connection with any such housing or slum-clearance projects or activities, any unexpended balance of funds allocated to such department or agency for the devel- opment, administration, or assistance of any housing or slum-clearance projects or activities, and any employees who have been engaged in work connected with housing or slum clearance. The Authority may continue any or all activities undertaken in connection with projects so tran sferred, subje ct to the pro visions of th is Act. SE C. 5. (a) The principal office of the Authority shall be in the District of Columbia, but it may establish branch offices or agencies in any State, and may exercise any of its powers at any place within the United States. The Authority may, by one or more of its officers or employees or by such agents or agencies as it may designate, con- duct hearings or negotiations at any place. (b) The Authority shall sue and be sued in its own name and shall be represented in all litigated matters by the Attorney Oreneral or such attorney or attorneys as he may designate. (c) The Authority shall have an official seal, which shall be judi- cially noticed. (d) The Authority shall be granted the free use of the mails in the same manner as the executiv e departments of the Govern ment. (e) The Authority, including but not limited to its franch ise, capital, reserves, surplus, loans, income, assets, and property of any kind, shall be exempt from all taxation now or hereafter imposed by the United States or by any State, county, municipality, or local taxing authority. Obligations, including interest thereon, issued by public housing agencies in connection with low-rent-housing or slum- clearance projects, and the income derived by such agencies from such projects, shall be exempt from all taxation now or hereafter imposed by the United States. SEC. 6. (a) The Authority may make such expenditures, subject to audit under the general law, for the acquisition and maintenance of adequat e admin istrati ve age ncies, offices, vehi cles, f urnishi ngs, e quip- ment, supplies, books, periodicals, printing and binding, for attend- ance at meetin gs, for any n ecessary trav eling expenses within the United States, its Territories, dependencies, or possessions, and for such other expenses as may from time to time be found necessary for the proper administration of this Act. Such financial transactions of the Authority as the making of loans, annual contributions, and capital grants, and the acquisition, sale, exchange, lease, or other disposition of real and personal property, and vouchers approved by the Administra tor in connec tion with suc h financial tr ansactions, shall be final and conclusive upon all officers of the Government ; except that all such financial transactions of the Authority shall be audited by the General Accounting Office at such times and in such manner as the Comptroller General of the United States may by regulation prescribe. (b) The provisions of section 3709 of the Revised Statutes (U . S . C., 1934 ed ., title 41, sec . 5) shall apply to all contracts of the Authority for services and to all of its purchases of supplies except when the aggregate amount involved is less than $300.