Page:United States Statutes at Large Volume 56 Part 1.djvu/203

 77TH CONG., 2D SESS.-CH. 198-MAR. 27, 1942 to this section. The Corporation is also authorized to sell, lease, or otherwise dispose of any such real estate. Proceedings for such con- demnation shall be instituted in the name of the United States pur- suant to the provisions of the Act approved August 1, 1888 (25 Stat. 357), as amended, and any real estate already devoted to public use which would be subject to condemnation in proceedings instituted upon application of any officer of the Government shall likewise be subject to condemnation in proceedings instituted upon application of the Corporation as herein provided. Sections 1, 2, and 4 of the Act approved February 26, 1931 (46 Stat. 1421), as amended, shall be applicable in any such proceeding. Any judgment rendered against the United States in any such proceeding shall promptly be paid by the Corporation. Immediately upon the vesting of title in the United States of America in any such proceeding, the Secre- tary of Commerce, by deed executed by him in the name of the United States of America, shall transfer the entire title or interest so acquired to the Corporation, and the Corporation shall thereupon have the same rights with respect to any real estate so acquired as it has with respect to real estate acquired by purchase. The power to institute proceedings for condemnation in pursuance of this sec- tion shall terminate on June 30, 1944, or upon such earlier date as the Congress by concurrent resolution, or the President by proclama- tion, may designate, but no such proceedings instituted prior to such termination shall abate by reason thereof." SEC. 2. The Reconstruction Finance Corporation Act, as amended, is hereby amended by inserting after section 5e thereof the following new sections: "SEO. Sf. (a) Any department, agency, or independent establishment of the Government or any corporation all of the capital stock of which is owned or controlled, directly or indirectly, by the Government is hereby authorized, notwithstanding any other provision of law, to sell, transfer, or lease, with or without consideration, to the Corpora- tion or to any corporation created or organized pursuant to section 5d of this Act, any real estate and any right or interest therein. "SEC. 5g. (a) The Reconstruction Finance Corporation is hereby directed to continue to supply funds to the War Damage Corporation, a corporation created pursuant to section 5d of this Act; and the amount of notes, bonds, debentures, and other such obligations which the Reconstruction Finance Corporation is authorized to issue and to have outstanding at any one time under existing law is hereby increased by an amount sufficient to carry out the provisions of this subsection. Such funds shall be supplied only upon the request of the Secretary of Commerce, with the approval of the President, and the aggregate amount of the funds so supplied shall not exceed $1,000,000,000. The Reconstruction Finance Corporation is authorized to and shall empower the War Damage Corporation to use its funds to provide, through insurance, reinsurance, or otherwise, reasonable protection against loss of or damage to property, real and personal, which may result from enemy attack (including any action taken by the military, naval, or air forces of the United States in resisting enemy attack), with such general exceptions as the War Damage Corporation, with the approval of the Secretary of Commerce, may deem advisable. Such protection shall be made available through the War Damage Corpora- tion on and after a date to be determined and published by the Secretary of Commerce which shall not be later than July 1, 1942, upon the payment of such premium or other charge, and subject to such terms and conditions, as the War Damage Corporation, with the approval of the Secretary of Commerce, may establish, but, in view of the national interest involved, the War Damage Corporation shall Condemnation pro- ccedings. 40U.S.C.ii257, 258. 40U. S.C. §§258a, 258b, 258d. Termination of power. 48 Stat. 971. 15U. . c. I606a. Transfer of real es- tate. 48 Stat. 1108. 15U.S.. C 606b, Supp. I, I 606b. Ante, p. 174; post, p. 356. War Damage Cor- poration. Increase of RFC lending authority. Post, p. 176. Protection against losses from enemy attack. Payment of pre- minm. Establishment of rates. 56 STAT.] 175

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