42 U.S.C. § 2365 — Amount of indemnity

Page 5595 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 2365 (2) sell or enter into contracts to sell to a servicer any notes and mortgages with respect to which a servicing contract has been entered into by the servicer with the Commission: Pro- vided, That with respect to sales of notes and mortgages under (2) the Commission shall com- ply with section 6101 of title 41 unless it deter- mines that such compliance would not be fea- sible. (Aug. 4, 1955, ch. 543, ch. 6, § 62, 69 Stat. 478; July 25, 1956, ch. 731, § 2, 70 Stat. 653; Pub. L. 87–719, §§ 15, 16, Sept. 28, 1962, 76 Stat. 665; Pub. L. 90–19, § 11, May 25, 1967, 81 Stat. 23.) Editorial Notes CODIFICATION In subsec. (d), ‘‘section 6101 of title 41’’ substituted for ‘‘section 3709 of the Revised Statutes’’ in two places on authority of Pub. L. 111–350, § 6(c), Jan. 4, 2011, 124 Stat. 3854, which Act enacted Title 41, Public Con- tracts. AMENDMENTS 1967—Subsec. (a). Pub. L. 90–19 substituted ‘‘Secretary of Housing and Urban Development’’ for ‘‘Federal Hous- ing Commissioner’’. 1962—Subsec. (a). Pub. L. 87–719, § 15, substituted ‘‘such property’’ for ‘‘house, apartment building, or dormitory’’. Subsec. (d). Pub. L. 87–719, § 16, inserted provisions re- specting servicing contracts and compliance with ad- vertising requirements for public purchases when fea- sible. 1956—Subsec. (a). Act July 25, 1956, reenacted subsec. (a) without change. Subsecs. (b), (c). Act July 25, 1956, added subsecs. (b) and (c) and redesignated former subsec. (b) as (d). Subsec. (d). Act July 25, 1956, redesignated former subsec. (b) as (d) and included notes and mortgages ac- quired under subsec. (c) of this section. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2363. Indemnity obligation of Commission; in- corporation by reference in deed For a period of not more than fifteen years after August 4, 1955, or, in the case of Los Ala- mos, not more than fifteen years after the date it is included within this chapter, the Commis- sion shall indemnify the purchaser (except a purchaser taking advantage of the provisions of section 2326(d) of this title), and any successor in title, of any such single family or duplex house as set forth in this subchapter. This in- demnity shall be deemed to be incorporated in the deeds given on the sale of Government- owned houses. One person may not invoke the indemnity in respect of more than one house. (Aug. 4, 1955, ch. 543, ch. 6, § 63, 69 Stat. 479; Pub. L. 87–719, § 17, Sept. 28, 1962, 76 Stat. 666.) Editorial Notes AMENDMENTS 1962—Pub. L. 87–719 inserted ‘‘or, in the case of Los Alamos, not more than fifteen years after the date it is included within this chapter’’ after ‘‘August 4, 1955,’’. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2364. Community employment and population The indemnity obligation specified in section 2363 of this title shall arise only if, for the six months just preceding the date on which it is in- voked— (a) the total number of operating, mainte- nance, and administrative employees in the project area, as determined by the Commis- sion, has been less than fourteen thousand three hundred and thirty-seven in the case of Oak Ridge or seven thousand six hundred and twenty-two in the case of Richland or four thousand six hundred and twenty in the case of Los Alamos; and (b) the population in the community has been less than twenty-nine thousand two hun- dred and fifty in the case of Oak Ridge or twenty-five thousand two hundred in the case of Richland or eleven thousand seven hundred and sixty-nine in the case of Los Alamos. For purposes of this section employment shall be determined on the basis of the pay period or periods ending nearest the 15th of each month. (Aug. 4, 1955, ch. 543, ch. 6, § 64, 69 Stat. 479; Pub. L. 87–719, §§ 18, 19, Sept. 28, 1962, 76 Stat. 666.) Editorial Notes AMENDMENTS 1962—Subsec. (a). Pub. L. 87–719, § 18, inserted ‘‘or four thousand six hundred and twenty in the case of Los Al- amos’’ after ‘‘Richland’’. Subsec. (b). Pub. L. 87–719, § 19, inserted ‘‘or eleven thousand seven hundred and sixty-nine in the case of Los Alamos’’ after ‘‘Richland’’. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2365. Amount of indemnity The indemnity obligation of the Commission specified in section 2363 of this title shall be for such amount, less the sales price of the prop- erty, as would have remained unpaid under a loan entered into on the date of the execution of the original deed by the Commission— (1) which was in the amount of the purchase price from the Commission and provided for equal monthly payments of principal and in- terest over a period of twenty years computed on the basis of the average interest and other charges recorded for property of the same class at the community; and (2) on which all payments due to the date when notice was received by the Commission had been made. (Aug. 4, 1955, ch. 543, ch. 6, § 65, 69 Stat. 479.) Page 5596 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 2366 Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2366. Conditions of indemnity; purchase of property by Commission The Commission shall make the indemnity payment specified by section 2365 of this title only if the Commission receives a notice from the then owner of the property that he is about to sell the property for a sum less than the un- paid balance of the real or hypothetical loan cal- culated pursuant to such section. Such payment shall be made only if— (a) notice is given to the Commission at a time when the conditions of section 2364 of this title are satisfied; (b) the sale is made within such time as the Commission may prescribe and in a manner which the Commission determined to afford adequate assurance of a fair price without ex- cessive costs; and (c) the Commission is given such prior no- tice of the sale and such opportunity to be- come a purchaser as it shall prescribe. In such circumstances the Commission is au- thorized to purchase the property. Sales pursu- ant to this section and payment by the Commis- sion of such amount, if any, as is owing pursu- ant to sections 2363 to 2366 of this title shall end the obligation of the Commission under sections 2363 to 2366 of this title with respect to that property. (Aug. 4, 1955, ch. 543, ch. 6, § 66, 69 Stat. 479.) Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. SUBCHAPTER VI—UTILITIES § 2371. Transfer of utilities The Commission is authorized to transfer to one or more of the entities specified in this sub- chapter such utilities as in the judgment of the Commission will be appropriate to enable the transferee to meet the needs of the residents of the community for adequate utility services of the kind to be transferred. (Aug. 4, 1955, ch. 543, ch. 7, § 71, 69 Stat. 480.) Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2372. Date of transfer of utilities Transfers of utilities shall be made as soon as possible, but in any event, not later than five years after August 4, 1955, in the case of Oak Ridge and Richland, or, in the case of Los Ala- mos, not later than June 30, 1998. (Aug. 4, 1955, ch. 543, ch. 7, § 72, 69 Stat. 480; Pub. L. 87–719, § 20, Sept. 28, 1962, 76 Stat. 666; Pub. L. 104–106, div. C, title XXXI, § 3161(a), Feb. 10, 1996, 110 Stat. 627.) Editorial Notes AMENDMENTS 1996—Pub. L. 104–106 substituted ‘‘not later than June 30, 1998’’ for ‘‘not later than five years after the date it is included within this chapter’’. 1962—Pub. L. 87–719 inserted ‘‘in the case of Oak Ridge and Richland, or, in the case of Los Alamos, not later than five years after the date it is included within this chapter’’ after ‘‘August 4, 1955,’’. § 2373. Transfer to governmental or other legal entity; determination of transferee (a) Transfer may be made to one or more of the following, if the transferee has the legal au- thority to receive and operate the utility. (1) the city at the community; (2) the State in which the community is lo- cated; (3) any political subdivision or agency of that State; or (4) any person, firm, corporation, or other legal entity. (b) In determining the transferee for any util- ity, the Commission may consider the following: (1) the pattern of ownership of the com- parable utilities in the State in which the community is located; (2) the ability of the transferee to operate the utility; (3) the probable price of the sale of the util- ity, the ability of the transferee to pay that price, and any probable expense; (4) the desires of the eligible voters of the community as directly expressed in any vote in any officially recognized procedure or in any procedure established by the Commission; and (5) the benefit to the United States in reduc- ing possible requirements for local assistance as authorized in subchapters VII and VIII of this chapter. (Aug. 4, 1955, ch. 543, ch. 7, § 73, 69 Stat. 480.) Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2374. Utilities transferable All utilities are authorized to be transferred under this subchapter, but shall not include property which the Commission determines to be needed for its own use. (Aug. 4, 1955, ch. 543, ch. 7, § 74, 69 Stat. 480.) Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See