Page:United States Statutes at Large Volume 70.djvu/1163

 70 S T A T. ]

PUBLIC LAW 1020-AUG. 7, 1956

"SEC. 614. (a) Notwithstanding the provisions of this or an;y other law, (1) any housing to be sold on-site determined by the Administrator to be permanent, located on lands owned by the United States and under the jurisdiction of the Administrator, which is not relinquished, transferred, under contract of sale, sold, or otherwise disposed of by the administrator under other provisions of this Act or under the provisions of other law by January 1, 1957, except housing which is determined by the Administrator by that date to be suitable for sale in accordance with section 607(b) of this Act; and (2) any permanent housing to be sold off-site which is not relinquished, transferred, under contract of sale, sold, or otherwise disposed of prior to the effective date of this section shall be disposed of, as expeditiously as possible, on a competitive basis to the highest responsible bidder upon such terms and after such public advertisement as the Administrator may deem in the public interest; except that the Administrator may reject any bid which he deems less than the fair market value of the property and may thereafter dispose of the property by negotiation. " (b) Notwithstanding the provisions of this or any other law, all contracts entered into after the enactment of this section for the sale, transfer, or other disposal of housing (other than housing subject to the provisions of section 607(b) of this Act) determined by the Administrator to be permanent, except contracts entered into pursuant to subsection (a) hereof, shall require that if title does not pass to the purchaser by April 1, 1957 (or within sixty days thereafter if such time is necessary to cure defects in title in accordance with the provisions of the contract), the rights of the purchaser shall terminate and thereafter the housing shall be sold under the provisions of subsection (a) hereof. For the purposes of this subsection, title shall be considered to nave passed upon the execution of a conditional sales contract. " (c) The dates set forth in subsections (a) and (b) of this section shall not be subject to change by virtue of the provisions of section 611 of this Act." (b) Notwithstanding any other provision of law, the Housing and Home Finance Administrator is authorized to sell and convey, at fair market value as determined by him on the basis of an appraisal made by an independent real-estate expert, to the city of Alexandria, Virginia, or to the Alexandria Redevelopment and Housing Authority, or to any agency or corporation established or sponsored in the public interest by such city, all of the right, title, and interest of the United States in and to the Chinquapin Village housing project, VA-44131, located in Alexandria, Virginia. Any sale pursuant to this authorization shall be made within six months after the date of the enactment of this subsection and shall be on such terms and conditions as the Administrator shall determine. (c) Notwithstanding any other provision of law, the Housing and Home Finance Administrator is authorized and directed to sell and convey to the city of Euclid, Ohio, for a total price of $6,125,000, all of the right, title, and interest of the United States in and to the housing projects known as Euclid Homes (OH-33074) and Lakeshore Village (OH-33071) located in Euclid, Ohio. The purchase price shall be secured by a mortgage which need not be a general obligation of such city, and shall be paid in equal annual installments within twenty years from the date of sale with the right of prepayment of all or any part thereof. No down-payment shall be required, and the unpaid balances shall bear interest at the rate of 41^ per centum per annum. The Administrator may impose such other terms and conditions as he may deem necessary or desirable, including a requirement

1107

64 Stat. 70. 42 USC 1587.

64 Stat. 70. 42 USC 1587.

65 Stat. 314. 42 USC lS89a„ Alexandria, Va.

Euclid, Ohio.

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