Volume 74
Public Law 86–792
To amend the Act of October 17, 1940, relating to the disposition of certain public lands in Alaska.
Approved September 14, 1960
Statutory text
AN ACT
To amend the Act of October 17, 1940, relating to the disposition of certain public lands in Alaska.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the Act of October 17, 1940 (54 Stat. 1191; 48 U.S.C. 353, note), is hereby amended—
by striking out the words “$1.25 per acre” appearing in section 2 thereof and by substituting therefor the words “their fair market value (but not less than $1.25 per acre) as determined by the Secretary by appraisal or otherwise”;
by adding a new section 3 thereto reading as follows: “The State of Alaska may, with the approval of the Secretary of the Interior, select any of the lands described in section 2 of this Act in partial satisfaction of land grants made or confirmed by the Act of July 7, 1958 (72 Stat. 339, 340), subject to the terms and
conditions of that Act.”; and
by adding a new section 4 thereto reading as follows: “Notwithstanding the provisions of section 2 of this Act, the Secretary of the Interior may sell to each of those persons who, on August 1, 1959, had on file in the Anchorage Land Office of the Bureau of Land Management, a valid application to purchase lands under this Act, the lands described in his application at the prices heretofore recommended by the Alaska Rural Rehabilitation Corporation but at not less than $1.25 per acre.”
Approved September 14, 1960.