Page:United States Statutes at Large Volume 70.djvu/77

 70

STAT.]

PUBLIC LAW 4 1 3 - F E B. 18, 1966

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national interest in the future maintenance and development of the P o r t Newark Army Base as a marine terminal in good operating condition, and to encourage, by providing a sound economic basis therefor, the investment by the Port of New York Authority, during the remainder of its term as lessee of the premises, of such sums for maintenance, repair, rehabilitation, or reconstruction of wharves, buildings, or other installations as may be necessary to provide and maintain such a terminal, now therefore, the first section of the Act entitled "An Act to provide for the sale of the Port Newark Army Base to the city of Newark, New Jersey, and for other purposes", approved June 20, 1936, as amended, is further amended by striking 49 Stat. iss?. out '•And provided further, That such conveyance shall be made upon the condition that the United States, in the event of wjir or of any national emergency declared by Congress to exist, shall have the right to take over said property and shall pay to the city of Newark as liquidated damages a sum equal to 8 per centum per annum on the amount theretofore paid on the purchase price of the said property by the said city during each year or part thereof that the said property is occupied under such taking by the United States, the said property to be returned to the city of Newark upon the expiration of such war or national emergency", and inserting in lieu thereof the following: '"'And provided further, That such conveyance shall be made upon National e me rthe condition that the deed executed by the Secretary of the Army ^*Reentry by u. s. shall include a provision prohibiting the city of Newark from utilizing or allowing the property to be utilized for purposes other than as a marine terminal and shall contain the express condition that whenever the Congress of the United States declares a state of war or other national emergency to exist, the United States shall have the right, subject to the obligation to make payments as hereinafter provided, to reenter the property and use the same or any part thereof, including any and all improvements made thereon during its occupancy by the city of Newark or its lessees, for the duration of such state of war or other national emergency. If the property is not returned by the United States to the city of Newark prior to the termination of such state of war or other national emergency, it shall revert to the city of Newark upon the termination of such state of war or other national emergency. During each year or part thereof that the said property is occupied by the United States under a reentry during such state of war or other national emergenc}^ the United States shall pay to the city of Newark or, if the property is then under lease, then to the city's then lessee, a rental or rentals to be computed as follows: "(1) If subsequent to August 1, 1955, but prior to the date of such rentaTf"*^*^^'' ° ' reentiy there has been expended (other than by the United States) less than the sum of $3,000,000 for the capital repair or improvement, and reconstruction or rehabilitation, other than normal maintenance, of the said property including any part thereof and the wharves, buildings, structures, or other installations thereon or therein, then and in such event the United States shall pay as the annual rent a sum equal to 3 per centum of the amount theretofore paid on the purchase price of said property by or on behalf of the city of Newark. "(2) I f subsequent to August 1, 1955, but prior to the date of such reentry, there has been expended (other than by the United States) $3,000,000 or more but less than $10,000,000, for the capital repair or improvement, and reconstruction or rehabilitation, other than normal maintenance, of said property including any part thereof and the wharves, buildings, structures, or other installations thereon or therein, then and in such event the United States shall pay as the annual rent $60,000 plus a sum equal to three-fifths of the annual fair rental value of said property on the date of such reentry.

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