Page:United States Statutes at Large Volume 77.djvu/410

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PUBI.IC LAW 88-2G4-DEC. 16, 1963 LABOR

[77 STAT.

STANDARDS

SEC. 408. (a) The Commissioner shall not approve any application for a grant or loan under this Act except upon adequate assurance that all laborers and mechanics employed by contractors or subcontractors in the performance of work on construction assisted by such ^rant or loan will be paid wages at rates not less than those prevailing on similar construction in the locality as determined by the Secretary of Labor in accordance with the Davis-Bacon Act, as amended (40 U S.C. 49 Stat. 1011. 276a-276a-5), and will receive overtime compensation in accordance with and subject to the provisions of the Contract Work Hours Stand76 Stat. 357. ards Act (Public Law 87-581); but, in the case of any nonprofit 40 USC 327 An TTcn 1.07 educational institution, the Commissioner may waive the application of note. this subsection in cases or classes of cases where laborers or mechanics, not otherwise employed at any time in the construction of the project, voluntarily donate their services for the purpose of lowering the costs of construction and the Commissioner determines that any amounts saved thereby are fully credited to the educational institution undertaking the construction. (b) The Secretary of I^abor shall have, with respect to the labor standards specified in subsection (a) of this section, the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (15 5 USC 133^ 15 F.R. 3176; 64 Stat. 1267), and section 2 of the Act of June 13, 1934, as note amended (40 U.S.C. 276c). 63 Stat. 108

RECOVERY o r

PAYMENTS

SEC. 404. (a) The Congress hereby finds and declares that, if a facility constructed with the aid of a grant or grants under title I or II of this Act is used as an academic facility for twenty years following completion of such construction, the public benefit accruing to the United States from such use will equal or exceed in value the amount of such grant or grants. The period of twenty years after completion of such construction shall therefore be deemed to be the period of Federal interest in such facility for the purposes of this Act. (b) If, within twenty years after completion of construction of an academic facility which has been constructed in part with a grant or grants under title I or II of this Act— (1) the applicant (or its successor in title or jDossession) ceases or fails to be a public or nonprofit institution, or (2) the facility ceases to oe used as an academic facility, or the facility is used as a facility excluded from the term "academic facility" by section 401(a)(2), the United States shall be entitled to recover from such applicant (or successor) an amount which bears to the then value of the facility (or so much thereof as constituted an approved project or projects) the same ratio as the amount of such Federal ^ a n t or grants bore to the development cost of the facility financed with the aid of such grant or grants. Such value shall be determined by a^eement of the parties or by action brought in the United States district court for the district in which such facility is situated. METHOD OF

PAYMENT

SEC. 405. Payments under this Act to any State or Federal agency, institution of higher education, or any other organization, pursuant to a grant or loan, may be made in installments, and in advance or by way of reimbursement, with necessary adjustments on account of overpayments or underpayments.

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