PUBLIC LAW 106-53—AUG. 17, 1999 113 STAT. 357 (4) VALUE OF PROPERTIES,—If the appraised fair market value, as determined by the Secretary, of the land conveyed to Holnam Inc. by the Secretary under paragraph (1) exceeds the appraised fair market value, as determined by the Secretary, of the land conveyed to the United States by Holnam Inc. under paragraph (1), Holnam Inc. sheJl make a payment equed to the excess in cash or a cash equivalent to the United States, (c) CANDY LAKE PROJECT, OSAGE COUNTY, OKLAHOMA.— (1) DEFINITIONS.—In this subsection: (A) FAIR MARKET VALUE.— The term "fair market value" means the amount for which a willing buyer would purchase and a willing seller would sell a parcel of land, as determined by a qugJified, independent land appraiser. (B) PREVIOUS OWNER OF LAND.— The term "previous owner of land" means a person (including a corporation) that conveyed, or a descendeuit of a deceased individuEd who conveyed, land to the Corps of Engineers for use in the Candy Lake project in Osage County, Oklahoma. (2) CONVEYANCES.— (A) IN GENERAL.—The Secretary shall convey all right, title, and interest of the United States in and to the land acquired by the United States for the Candy Lake project in Osage County, Oklahoma. (B) PREVIOUS OWNERS OF LAND.— (i) IN GENERAL.—The Secretary shall give a previous owner of land the first option to purchase the land described in subparagraph (A). (ii) APPLICATION.— (I) IN GENERAL.—^A previous owner of land that desires to purchase the land described in paragraph (1) that was owned by the previous owner of land, or by the individual from whom the previous owner of land is descended, shall file an application to pvu'chase the land with the Secretary not later than 180 days after the official date of notice to the previous owner of land under paragraph (3). (II) FIRST TO FILE HAS FIRST OPTION.— If more than 1 application is filed to purchase a parcel of land described in subparagraph (A), the first option to purchase the parcel of land shall be determined in the order in which applications for the parcel of land were filed. (iii) IDENTIFICATION OF PREVIOUS OWNERS OF LAND. —As soon as practicable sifter the date of enactment of this Act, the Secretary shall, to the extent practicable, identify each previous owner of land. (iv) CONSIDERATION.— Consideration for land conveyed under this subsection shall be the fair market value of the land. (C) DISPOSAL.— Any land described in subparagraph (A) for which an application to piu-chase the land has not been filed under subparagraph (B)(ii) within the applicable time period shall be disposed of in accordsuice with law.
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