Volume 71
Public Law 85–174
Authorizing the transfer of certain property of the Veterans’ Administration (in Johnson City, Tennessee) to Johnson City National Farm Loan Association and the East Tennessee Production Credit Association, local units of the Farm Credit Administration.
Approved August 28, 1957
Statutory text
AN ACT
Authorizing the transfer of certain property of the Veterans’ Administration (in Johnson City, Tennessee) to Johnson City National Farm Loan Association and the East Tennessee Production Credit Association, local units of the Farm Credit Administration.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That, subject to section 2 of this Act, the Administrator of Veterans’ Affairs be, and he is hereby, authorized to transfer to Johnson City National Farm Loan Association and the East Tennessee Production Credit Association, local units of the Farm Credit Administration to allow property line at right angle to United States Highway 11-E and as adjoining the property of the two associations, a parcel of land containing approximately seven hundred and forty-six ten-thousandths acre, situated in the reservation of the Veterans’ Administration Center, Mountain Home (Johnson City), Tennessee, an exact legal description of which, satisfactory to the Administrator or his designate, shall be furnished by the associations.
Sec. 2.
In consideration for the conveyance authorized by this
Market value.
Act, the associations shall pay the fair market value of the land to be transferred, as determined jointly by the Administrator, or his designate, and the associations. The deed of conveyance may contain such conditions, reservations, and restrictions as the Administrator, or his designate, determines to be necessary to protect the interests of the United States.
Approved August 28, 1957.