110 STAT. 880 PUBLIC LAW 104-123—APR. 1, 1996 within the Monument recognized pursuant to section 504 of ANILCA; (5) the term "KGCMC" means the Kennecott Greens Creek Mining Company, Inc., a Delaware corporation; (6) the term "Monument" means the Admiralty Island National Monument in the State of Alaska established by section 503 of ANILCA; (7) the term "Royalty" means Net Island Receipts Royalty as that latter term is defined in Exhibit C to the Agreement; and (8) the term "Secretary" means the Secretary of Agriculture. SEC. 4. RATIFICATION OF THE AGREEMENT. The Agreement is hereby ratified and confirmed as to the duties and obligations of the United States and its agencies, and KGCMC and Kennecott Corporation, as a matter of Federal law. The agreement may be modified or amended, without further action by the Congress, upon written agreement of all parties thereto and with notification in writing being made to the appropriate committees of the Congress. SEC. 5. IMPLEMENTATION OF THE AGREEMENT. National Forest (a) LAND ACQUISITION.— Without diminishment of any other System. land acquisition authority of the Secretary in Alaska and in furtherance of the purposes of the Agreement, the Secretary is authorized to acquire lands and interests in land within conservation system units in the Tongass National Forest, and any land or interest in land so acquired shall be administered by the Secretary as part of the National Forest System and any conservation system unit in which it is located. Priority shall be given to acquisition of non-Federal lands within the Monument. Royalties. (b) ACQUISITION FUNDING.— There is hereby established in the Treasury of the United States an account entitled the "Greens Creek Land Exchange Account" into which shall be deposited the first $5,000,000 in royalties received by the United States under part 6 of the Agreement after the distribution of the amounts pursuant to subsection (c) of this section. Such moneys in the special account in the Treasury may, to the extent provided in appropriations Acts, be used for land acquisition pursuant to subsection (a) of this section. Royalties. (c) TwENTY-FiVE PERCENT FuND.— All royalties paid to the United States under the Agreement shall be subject to the 25 percent distribution provisions of the Act of May 23, 1908, as amended (16 U.S.C. 500) relating to payments for roads and schools. (d) MINERAL DEVELOPMENT. —Notwithstanding any provision of ANILCA to the contrary, the lands and interests in lands being conveyed to KGCMC pursuant to the Agreement shall be available for mining and related activities subject to and in accordance with the terms of the Agreement and conveyances made thereunder. (e) ADMINISTRATION. —The Secretary of Agriculture is authorized to implement and administer the rights and obligations of the Federal Government under the Agreement, including monitoring the Government's interests relating to extralateral rights, collecting royalties, and conducting audits. The Secretary may enter into cooperative arrangements with other Federal agencies for the performance of any Federal rights or obligations under the Agreement or this Act.
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