Page:United States Statutes at Large Volume 74.djvu/115

 74

STAT.]

75

PUBLIC LAW 86-433-APR. 22, 1960

not be limited to the general terms and conditions under which individuals, governmental agencies or subdivisions, corporations, associations or other legal entities may acquire rights, title, or interests in and to lands within the transfer area. (b) At any time after submission of a proposed plan, as required by the preceding subsection, the Commission may select for transfer from Federal to State ownership the entire transfer area. The application for transfer of title to the transfer area shall be made to the Secretary and shall be accompanied by a development and acquisition planning report containing such information relative to any proposed development and acquisition payment plan as may by regulation be required by the Secretary. No acquisition payment plan shall be considered by the Secretar}^ unless such plan provides for payment by the State into the Treasury of the United States, within five years of the delivery of patent to the Commission, of an amount equal to the appraised fair market value of the lands conveyed. (c) At the earliest practicable date following the effective date of this Act, the Secretary shall cause an appraisal to be made of the fair market value of the lands within the entire transfer area, including mineral and material values, if any; such appraisal when completed shall constitute the only basis, except for such adjustment as may be required by virtue of the provisions of sections 1 and 6 of this Act, for determining the compensation to be paid to the United States by the Commission for the transfer of the lands to which this Act is applicable. (d) As soon as a proposed unit development and acquisition planning report is found by the Secretary to comply with the provisions of this Act and with such regulations as the Secretary may prescribe as to the contents thereof, the Secretary is hereby authorized and directed to negotiate a contract of sale with the Commission and to prepare appropriate conveyancing instruments for the lands involved. Thereafter, the Secretary shall submit to the Congress, for reference to the appropriate committees of the House of Representatives and the Senate, copies of the Commission application, proposed development and acquisition planning report, and proposed contract of sale and conveyancing instruments, together with his comments and recommendations, if any. (e) No contract of sale or instrument of conveyance shall be executed by the Secretary with respect to any lands applied for by the Commission prior to sixty calendar days (which sixty days, however, shall not include days on which either the House of Representatives or the Senate is not in session because of an adjournment of more than three calendar days to a day certain) from the day on which the Secretary makes the submissions required by the preceding subsection, unless the Congress, prior to the expiration of said sixty days, approves the execution of such contract of sale and instrument of conveyance. SEC. 5. Any conveyance authorized by this Act shall be made subject to any existing valid rights pertaining to the lands included within the transfer area. SEC. 6. If any of the lands described in section 2 of this Act are subject to a lease, permit, license, or contract issued under the Mineral Leasing Act of February 25, 1920 (41 Stat. 437), as amended (39 U.S.C. 181 and the following), the patenting of such lands to the State shall neither affect the validity nor modify the terms of such lease, permit, license, or contract in any way, or affect any rights thereunder, except that the patent, unless it contains a mineral reservation made pursuant to a request of the State, shall include the transfer to the State of all right, title, and interest of the United States in and to such lease, permit, license, or contract so far as it pertains to such lands, including any right to rents, royalties, and other payments

Appraisal.

Rights w i t h i n transfer area.

30 USC seq.

181 et

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