Public Law 74–684

That in order to suitably dispose of certain Federal buildings and the sites thereof under the control of the Treasury Department, which have been supplanted by new structures, and for which the Secretary of the Treasury has determined there is no further Federal need, he is hereby authorized, in his discretion, if he deems it to be in the best interests of the Government, to sell such buildings and sites or parts of sites to States, counties, municipalities, or other duly constituted political subdivisions of States for public use upon such terms, pursuant to such rules and regulations promulgated by him, as he deems proper, and to convey the same by the usual quitclaim deed, and he may enter

Long-term contracts for payment permitted.

into long-term contracts for the payment of the purchase price in such installments as he deems fair and reasonable and may furthermore waive any requirements for interest charges on deferred payments: Provided, That the total purchase price shall in no case be

Provisos.

Restriction on purchase price.

less than 50 per centum of the appraised value of the land, the appraisal to be made by the Treasury Department: Provided further,

Proceeds covered in.

That the proceeds of the sales shall be deposited in the Treasury as miscellaneous receipts: Provided further, That in the event portions

Donations for street purposes.

of any Federal building sites under the control of the Treasury Department are desired by municipalities by reason of any duly authorized, comprehensive street-widening program, the Secretary of the Treasury may deed to such municipalities, without cost, such areas needed for street uses as may be dedicated without jeopardy to the Federal interest.