Page:United States Statutes at Large Volume 62 Part 1.djvu/1217

 62 STAT.] 80TH CONG. , 2D SESS.-CH. 773-JUNE 30, 1948 1187 on an accrual basis), of the funds available to the Tennessee Valley Authority, shall be available during the fiscal year 1949 for all admin- istrative and general expenses of the Corporation, which expenses shall be inclusive of costs of all administrative offices and other activities representing management and other functions serving the programs and projects of the Corporation in general. Reconstruction Finance Corporation: Not to exceed $24,796,000 Administrative ex- (to be computed on an accrual basis) of the funds of the Reconstruc- penses . tion Finance Corporation shall be available during the fiscal year 1949 for its administrative expenses and the administrative expenses of the Federal National Mortgage Association; not to exceed $1,500 for periodicals and newspapers; health service program as authorized by law (5 U. S. C. 150); use of the services and facilities of the 60 tat. 903. Federal Reserve banks: Provided, That as used herein the term "Admnstrativeex- "administrative expenses" shall be construed to include all salaries and wages, services performed on a contract or fee basis, and travel and other expenses, including the purchases of equipment and sup- plies, of administrative offices: Provided further, That the limit- .i n r ea se in limita- ing amount heretofore stated for administrative expenses shall be increased by an amount which does not exceed the aggregate cost of salaries, wages, travel, and other expenses of persons employed outside the continental United States; wages, fees, and other expenses, includ- ing cost of contract services, of persons who are exclusively engaged in construction, operation, clearance, maintenance and protection of plants, operating facilities, acquired collateral, and other property in which the Corporation has an interest; the expenses of services per- formed on a contract or fee basis in connection with termination of contracts or in the performance of legal services; and all expenses reimbursable from other Government agencies: Provided further, Accounting. That the distribution of administrative expenses to the accounts of the Corporation shall be made in accordance with generally recog- nized accounting principles and practices: Provided further, That, Surplus property. except as otherwise provided hereinafter, none of the funds of the Reconstruction Finance Corporation and its subsidiary shall be used for the custody, maintenance, or disposal of any surplus property within the continental limits of the United States, its Territories or possessions, except such property as may be owned by and held for disposal by the Reconstruction Finance Corporation or its subsidiary; but, notwithstanding any other provision of law, the Reconstruction Finance Corporation may waive reimbursement from War Assets Administration for the administrative property transferred prior to July 1, 1946, and for expenses incurred prior thereto in the custody, maintenance, or disposal of any surplus property: Provided further, Purchases, etc. That no part of the funds of the Reconstruction Finance Corporation or of its subsidiary shall be used to make any purchase or for personal services or to enter into any contract for the use or benefit of any other agency of the Government unless such agency shall have author- ity in law and appropriations available to make reimbursement for such purchase, personal services, or contract, except that this provi- sion shall not apply to expenditures in connection with materials, surplus to the needs of the Corporation, which have been or hereafter shall be transferred to stock piles established pursuant to the Strategic and Critical Materials Stock Piling Act (60 Stat. 599): Provided 0 sta t59 . further,That the Secretary of the Treasury is hereby authorized and supp.'I s inote. directed to cancel notes of the Reconstruction Finance Corporation canceiltion o in the amount of $9,313,736,531, plus the interest accrued thereon RFCnotes. subsequent to June 30, 1947, the foregoing stated amount representing unrecovered costs to the Corporation as of June 30,1947, in its national defense, war, and reconversion activities, and any amounts recovered by the Corporation with respect to these activities subsequent to June

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