Page:United States Statutes at Large Volume 68 Part 1.djvu/553

 68

STAT.]

PUBLIC LAW 5 1 9 - J U L Y 22, 1954

and any other provision of law (except applicable labor standards provisions) relating to the acquisition of real property, construction of buildings, or leasing of space, shall not apply to purchase contract agreements executed under this section." SEC. 102. I t is not the intention of the Congress that the program authorized by this title shall constitute a substitute for or a replacement of any program for the construction by the United States of such structures as may be required from time to time by the Federal Government. SEC. 103. This title may be cited as the "Public Buildings Purchase Contract Act of 1954". TITLE II—POST OFFICE DEPARTMENT SEC. 201. I t is the purpose of this title to supplement existing provisions of law for the leasing of space for postal purposes by providing authorization for the acquisition by the Postmaster General of such space through the execution of lease-purchase and other agreements under which the United States will obtain immediate use of such space and will make periodic payments, and in the case of lease-purchase agreements will obtain title to the property described therein at or prior to the end of the term prescribed therein. I t is not the intention of the Congress that the program authorized by section 202 of this title shall constitute a substitute for or a replacement of any program for the construction by the United States of such structures as may be required from time to time by the postal service. SEC. 202. (a) Whenever the Postmaster General determines that (1) there is a substantial need for space for postal purposes in any particular area which cannot be satisfied by utilization of any existing property suitable for the purpose then owned by the Government, (2) the receipts of the post office serving such area exceed $10,000 per year, and (3) the best interests of the United States will be served by taking action hereunder, he is hereby authorized to obtain and provide space for postal purposes in suitable structures of permanent-type construction in the several States, the District of Columbia, and the Territories and possessions of the United States (including Guam), by negotiating and entering into lease-purchase agreements, the terms of which shall not be less than ten nor more than twenty-five years and which shall provide in each case that title to the property shall vest in the United States at or before the expiration of the leasehold term and upon fulfillment of the terms and conditions stipulated in each of such lease-purchase agreements. Such terms and conditions shall include provision for the application to the purchase price agreed upon therein of rental payments made thereunder. Such payments under any such agreement may include amounts for the amortization of the fair market value on the date of such agreement of the property described therein. The financial transactions of the Post Office Department with respect to such lease-purchase agreements shall be subject to the accounting and auditing requirements of the Post Office Department Financial Control Act of 1950 (Act of August 17, 1950, ch. 735, Eighty-first Congress, second session). (b) Except as provided in subsection (d) of this section, the Postmaster General is authorized to exercise the powers granted in this section with respect to existing properties, including those for which conversions, additions, extensions, or remodeling may be required, and properties upon which construction is to be subsequently effected in pursuance of the terms of applicable lease-purchase agreements. (c) Except as provided in subsection (d) of this section, the Postmaster General is authorized to enter into agreements with any person.

521

Federal construction progratnEi*

Citation of title«

P o s t Office Department Property Act of 1954. Purpose.

S p a c e procurement.

Lease-purchase agreements. Terms.

Accounting and auditing. 64 Stat. 4 6 0. 39 USC 794-794f. Existing property utilization.

Agreements.

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