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16 U.S.C. § 831y — Net proceeds over expense payable into Treasury
Federal law — U.S. Code and appendices · legal_authorities
Commencing July 1, 1936, the proceeds for each fiscal year derived by the Board from the sale of power or any other products manufactured by the Corporation, and from any other activities of the Corporation including the disposition of any real or personal property, shall be paid into the Treasury of the United States on March 31 of each year, save and except such part of such proceeds as in the opinion of the Board shall be necessary for the Corporation in the operation of dams and reservoirs, in conducting its business in generating, transmitting, and distributing electric energy and in manufacturing, selling, and distributing fertilizer and fertilizer ingredients. A continuing fund of $1,000,000 is also excepted from the requirements of this section and may be withheld by the Board to defray emergency expenses and to insure continuous operation: Provided, That nothing in this section shall be construed to prevent the use by the Board, after June 30, 1936, of proceeds accruing prior to July 1, 1936, for the payment of obligations lawfully incurred prior to such latter date.
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Source file: Laws/federal/codes/united-states-code/title-16/section-831y-net-proceeds-over-expense-payable-into-treasury--996da07283.md
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Source location: Title 16, Chapter 12A, § 831y; chapter-12a-tennessee-valley-authority.md
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Commencing July 1, 1936, the proceeds for each fiscal year derived by the Board from the sale of power or any other products manufactured by the Corporation, and from any other activities of the Corporation including the disposition of any real or personal property, shall be paid into the Treasury of the United States on March 31 of each year, save and except such part of such proceeds as in the opinion of the Board shall be necessary for the Corporation in the operation of dams and reservoirs, in conducting its business in generating, transmitting, and distributing electric energy and in manufacturing, selling, and distributing fertilizer and fertilizer ingredients. A continuing fund of $1,000,000 is also excepted from the requirements of this section and may be withheld by the Board to defray emergency expenses and to insure continuous operation: Provided, That nothing in this section shall be construed to prevent the use by the Board, after June 30, 1936, of proceeds accruing prior to July 1, 1936, for the payment of obligations lawfully incurred prior to such latter date.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authorization; amount; use of proceeds; restriction on contracts for sale or delivery of power; exchange power arrangements; payment of principal and interest; bond contracts** The Corporation is authorized to issue and sell bonds, notes, and other evidences of indebtedness (hereinafter collectively referred to as “bonds”) in an amount not exceeding $30,000,000,000 outstanding at any one time to assist in financing its power program and to refund such bonds. The Corporation may, in performing functions authorized by this chapter, use the proceeds of such bonds for the construction, acquisition, enlargement, improvement, or replacement of any plant or other facility used or to be used for the generation or transmission of electric power (including the portion of any multiple-purpose structure used or to be used for power generation); as may be required in connection with the lease, lease-purchase, or any contract for the power output of any such plant or other facility; and for other purposes incidental thereto. Unless otherwise specifically authorized by Act of Congress the Corporation shall make no contracts for the sale or delivery of power which would have the effect of making the Corporation or its distributors, directly or indirectly, a source of power supply outside the area for which the Corporation or its distributors were the primary source of power supply on July 1, 1957, and such additional area extending not more than five miles around the periphery of such area as may be necessary to care for the growth of the Corporation and its distributors within said area: Provided, however, That such additional area shall not in any event increase by more than 2½ per centum (or two thousand square miles, whichever is the lesser) the area for which the Corporation
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 831n–4
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Congress shall—
(1) consider budget programs for wholly owned Government corporations the President submits;
(2) make necessary appropriations authorized by law;
(3) make corporate financial resources available for operating and administrative expenses; and
(4) provide for repaying capital and the payment of dividends.
**(b)** This section does not—
(1) prevent a wholly owned Government corporation from carrying out or financing its activities as authorized under another law;
(2) affect section 26 of the Tennessee Valley Authority Act of 1933 ([16 U.S.C. 831y](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section831y&num=0&edition=prelim)); or
(3) affect the authority of a wholly owned Government corporation to make a commitment without fiscal year limitation.
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 9104
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Federal law — U.S. Code and appendices · legal_authorities
Page 1477
TITLE 16—CONSERVATION
§ 831cc
demnation proceedings initiated after thirty days fol-
lowing the date of enactment of this Act [Sept. 28,
1968].’’
§ 831y. Net proceeds over expense payable into
Treasury
Commencing July 1, 1936, the proceeds for
each fiscal year derived by the Board from the
sale of power or any other products manufac-
tured by the Corporation, and from any other
activities of the Corporation including the dis-
position of any real or personal property, shall
be paid into the Treasury of the United States
on March 31 of each year, save and except such
part of such proceeds as in the opinion of the
Board shall be necessary for the Corporation in
the operation of dams and reservoirs, in con-
ducting its business in generating, transmitting,
and distributing electric energy and in manufac-
turing, selling, and distributing fertilizer and
fertilizer ingredients. A continuing fund of
$1,000,000 is also excepted from the requirements
of this section and may be withheld by the
Board to defray emergency expenses and to in-
sure continuous operation: Provided, That noth-
ing in this section shall be construed to prevent
the use by the Board, after June 30, 1936, of pro-
ceeds accruing prior to July 1, 1936, for the pay-
ment of obligations lawfully incurred prior to
such latter date.
(May 18, 1933, ch. 32, § 26, 48 Stat. 71; Aug. 31,
1935, ch. 836, § 10, 49 Stat. 1079; Pub. L. 94–273,
§ 35(b), Apr. 21, 1976, 90 Stat. 380.)
Editorial Notes
AMENDMENTS
1976—Pub. L. 94–273 substituted ‘‘on March 31 of each
year’’ for ‘‘at the end of each calendar year’’.
1935—Act Aug. 31, 1935, amended section generally.
§ 831y–1. Approval of plans by Board as condition
precedent to construction and operation; re-
straining action without approval
Source: Supplied 2024 U.S. Code historical extraction · 16 U.S.C. § 831y
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