Page:United States Statutes at Large Volume 76A.djvu/122

–26– -26ocation of any of such licenses the terms and conditions applicable to which are such as to provide for compensation to the licensee in the reasonable value of the improvements made by him on said tract, to be determined in such manner as the Governor may direct, the compensation is authorized so to be determined and to be paid out of any moneys appropriated for that purpose, except that no compensation may be paid in the case of a license revoked on account of a material breach by the licensee of the terms and conditions applicable to his license, or where the licensee has abandoned the license, or in case of the death of the licensee. § 334. Revocable licenses for lots in town sites The Governor or his designee may execute licenses for lots in town sites in the Canal Zone, revocable at the pleasure of the Governor. Upon revocation of a license, the licensee shall vacate and remove improvements at once without indemnity.

CHAPTER 15—PUBLIC PROPERTY AND PROCUREMENT Sec 371. Acquisition or construction of structures, equipment, and improvements. 372. Transfers of properties between departments and agencies.

§ 371. Acquisition or construction of structures, equipment, and improvements Within the limits of available funds, the Governor may: (1) purchase or otherwise acquire equipment; and (2) within the Canal Zone, purchase or otherwise acquire, construct, repair, replace, alter, or enlarge any building, structure, or other improvement— when in his judgment the action is necessary for the civil government, including health, sanitation, and protection of the Canal Zone. § 372. Transfers of properties between departments and agencies (a) In the interest of economy and maximum efficiency in the utilization of Government property and facilities, there are authorized to be transferred between departments and agencies, with or without exchange of funds, all or so much of the facilities, buildings, structures, improvements, stock and equipment, of their activities located in the Canal Zone, as may be mutually agreed upon by the departments and agencies involved and approved by the Director of the Bureau of the Budget. (b) With respect to transfers without exchange of funds, transfers: (1) to or from the Panama Canal Company are subject to section 62 of this title; and (2) to or from the Canal Zone Government shall be at such appropriate amounts as are agreed upon between the Canal Zone Government and the departments or agencies concerned and approved by the Director of the Bureau of the Budget. (c) In determining the amounts referred to in paragraph (2) of subsection (b) of this section, due consideration must be given to the cost of the transferred assets, or usable value to the transferee if clearly less than cost, and adequate provision made for depreciation of properties and equipment, obsolete or otherwise unusable inventories, and other reasonably determinable shrinkages in values. The amounts shall be added to or deducted from the investment of the United States in the Canal Zone Government as applicable.

�