Page:United States Statutes at Large Volume 68 Part 1.djvu/751

 68 S T A T. ]

PUBLIC LAW 587-AUG. 13, 1954

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(1) cause an appraisal to be made, within not more than twelve months after their employment, or as soon thereafter as practicable, of all tribal property showing its fair market value by practicable logging or other appropriate economic units; (2) give each adult member of the tribe, immediately after the appraisal of the tribal property, an opportunity to elect for himself, and, in the case of a head of a family, for the members of the family who are minors, to withdraw from the tribe and have his interest in tribal property converted into money and paid to him, or to remain in the tribe and participate in the tribal management plan to be prepared pursuant to paragraph (5) of this subsection; (3) determine and select the portion of the tribal property which if sold at the appraised value would provide sufficient funds to pay the members who elect to have their interests converted into money, arrange for the sale of such property, and distribute the proceeds of sale among the members entitled thereto: Provided, That whenever funds have accumulated in the amount of $200,000 or more, such funds shall be distributed pro rata to the members who elected to take distribution of their individual shares, and thereafter similar pro rata distribution shall be made whenever funds have accumulated in the amount of $200,000 or more until all of the property set aside for sale shall have been sold and the proceeds distributed: Provided further, That any such member shall have the right to purchase any part of such property for not less than the highest oner received by competitive bid, and to apply toward the purchase price all or any part of the sum due him from the conversion of his interest in tribal property: Provided further, That when determining and selecting the portion of the tribal property to be sold, due consideration shall be given to the use of such property for grazing purposes by the members of both groups of the tribe; (4) cause such studies and reports to be made as may be deemed necessary or desirable by the tribe or by the Secretary in connection with the termination of Federal supervision as provided for in this Act; and (5) cause a plan to be prepared in form and content satisfactory to the tribe and to the Secretary for the management of tribal property through a trustee, corporation, or other legal entity. (b) Such amounts of Klamath tribal funds as may be required for thoK^ldf""'*^ ^"" the purposes of this section shall be available for expenditure by the Secretary: Provided, That the expenses incident to the sale of property and the distribution of proceeds of sale pursuant to paragraph (3) of this subsection sJiall be charged exclusively to the interests of the members who withdraw from the tribe, and the expenses incurred under paragraphs (4) and (5) of this subsection shall be charged exclusively to the interests of the members who remain in the tribe, and all other expenses under this section shall be charged to the interests of both groups of members. SEC. 6. (a) The Secretary is authorized and directed to execute any Tribal property. •

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Transfer proce-

conveyancing mstrument that is necessary or appropriate to convey dure, title to tribal property to be sold in accordance with the provisions of paragraph (3) of subsection (a) of section 5 of this Act, and to transfer title to all other tribal property to a trustee, corporation, or other legal entity in accordance with the plan prepared pursuant to paragraph (5) of subsection (a) of section 5 of this Act. ( b j I t is the intention of the Congress that all of the actions completion date, required by sections 5 and 6 of this Act shall be completed at the earliest practicable time and in no event later than four years from the date of this Act.

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