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U.S. Code as of:
01/19/04
Section 831c. Corporate powers generally; eminent domain; construction of dams, transmission lines, etc.
Except as otherwise specifically provided in this chapter, the
Corporation -
(a) Shall have succession in its corporate name.
(b) May sue and be sued in its corporate name.
(c) May adopt and use a corporate seal, which shall be judicially
noticed.
(d) May make contracts, as herein authorized.
(e) May adopt, amend, and repeal bylaws.
(f) May purchase or lease and hold such real and personal
property as it deems necessary or convenient in the transaction of
its business, and may dispose of any such personal property held by
it.
The board shall select a treasurer and as many assistant
treasurers as it deems proper: Provided, That any member of said
board may be removed from office at any time by a concurrent
resolution of the Senate and the House of Representatives.
(g) Shall have such powers as may be necessary or appropriate for
the exercise of the powers herein specifically conferred upon the
Corporation.
(h) Shall have power in the name of the United States of America
to exercise the right of eminent domain, and in the purchase of any
real estate or the acquisition of real estate by condemnation
proceedings, the title to such real estate shall be taken in the
name of the United States of America, and thereupon all such real
estate shall be entrusted to the Corporation as the agent of the
United States to accomplish the purposes of this chapter.
(i) Shall have power to acquire real estate for the construction
of dams, reservoirs, transmission lines, power houses, and other
structures, and navigation projects at any point along the
Tennessee River, or any of its tributaries, and in the event that
the owner or owners of such property shall fail and refuse to sell
to the Corporation at a price deemed fair and reasonable by the
board, then the Corporation may proceed to exercise the right of
eminent domain, and to condemn all property that it deems necessary
for carrying out the purposes of this chapter, and all such
condemnation proceedings shall be had pursuant to the provisions
and requirements hereinafter specified, with reference to any and
all condemnation proceedings: Provided, That nothing contained
herein or elsewhere in this chapter shall be construed to deprive
the Corporation of the rights conferred by sections 3114, 3115, and
3118 of title 40.
(j) Shall have power to construct such dams, and reservoirs, in
the Tennessee River and its tributaries, as in conjunction with
Wilson Dam, and Norris, Wheeler, and Pickwick Landing Dams, now
under construction, will provide a nine-foot channel in the said
river and maintain a water supply for the same, from Knoxville to
its mouth, and will best serve to promote navigation on the
Tennessee River and its tributaries and control destructive flood
waters in the Tennessee and Mississippi River drainage basins; and
shall have power to acquire or construct power houses, power
structures, transmission lines, navigation projects, and incidental
works in the Tennessee River and its tributaries, and to unite the
various power installations into one or more systems by
transmission lines.
(k) Shall have power in the name of the United States -
(a) to convey by deed, lease, or otherwise, any real property
in the possession of or under the control of the Corporation to
any person or persons, for the purpose of recreation or use as a
summer residence, or for the operation on such premises of
pleasure resorts for boating, fishing, bathing, or any similar
purpose;
(b) to convey by deed, lease, or otherwise, the possession and
control of any such real property to any corporation,
partnership, person, or persons for the purpose of erecting
thereon docks and buildings for shipping purposes or the
manufacture or storage thereon of products for the purpose of
trading or shipping in transportation: Provided, That no transfer
authorized herein in (b) shall be made without the approval of
Congress: And provided further, That said corporation, without
further action of Congress, shall have power to convey by deed,
lease, or otherwise, to the Ingalls Shipbuilding Corporation, a
tract or tracts of land at or near Decatur, Alabama, and to the
Commercial Barge Lines, Inc., a tract or tracts of land at or
near Guntersville, Alabama;
(c) to transfer any part of the possession and control of the
real estate now in possession of and under the control of said
Corporation to any other department, agency, or instrumentality
of the United States: Provided, however, That no land shall be
conveyed, leased, or transferred, upon which there is located any
permanent dam, hydroelectric power plant, or munitions plant
heretofore or hereafter built by or for the United States or for
the Authority, except that this prohibition shall not apply to
the transfer of Nitrate Plant Numbered 1, at Muscle Shoals,
Alabama, or to Waco Quarry: And provided further, That no
transfer authorized herein in (a) or (c) except leases for terms
of less than twenty years, shall be made without the approval of
the President of the United States, if the property to be
conveyed exceeds $500 in value; and
(d) to convey by warranty deed, or otherwise, lands, easements,
and rights-of-way to States, counties, municipalities, school
districts, railroad companies, telephone, telegraph, water, and
power companies, where any such conveyance is necessary in order
to replace any such lands, easements, or rights-of-way to be
flooded or destroyed as the result of the construction of any dam
or reservoir now under construction by the Corporation, or
subsequently authorized by Congress, and easements and
rights-of-way upon which are located transmission or distribution
lines. The Corporation shall also have power to convey or lease
Nitrate Plant Numbered 1, at Muscle Shoals, Alabama, and Waco
Quarry, with the approval of the Department of the Army and the
President.
(l) Shall have power to advise and cooperate in the readjustment
of the population displaced by the construction of dams, the
acquisition of reservoir areas, the protection of watersheds, the
acquisition of rights-of-way, and other necessary acquisitions of
land, in order to effectuate the purposes of the chapter; and may
cooperate with Federal, State, and local agencies to that end.
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