. 70 April 20, 1937
AN ACT [H. R. 5299] To authorize the Secretary of the Interior to exchange certain lands and water [Public, No . 431 rights in Inyo and Mono Counties, California, with the city of Los Angeles, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Interior be, and he is hereby, authorized, in his discretion, to accept title on behalf of the United States to lands and water rights now owned and held by the city of Los Angeles in the counties of Inyo and Mono, State of California, if, in his judgment, the interests of the Indians in said counties will be benefited thereby; and in con- sideration therefor the said S ecretary m ay issue a patent or patents to the said city of Los Angeles for lands, water rights . and buildings now held by the United States for the benefit of the Indians, provided that the l ands, wate r rights, and buildi ngs covere d by the p atent or patents shall'not exceed in value the lands and water rights conveyed by the said city of Los Angeles to the United States : Pro vided, Th a t the said S ecretary m ay reserve the miner als of the lands con veyed to the said c ity and th e said Sec retary is authorized to accept convey- ance by the said city of the lands and water rights, subject to a similar reservation in the city of the minerals of such lands, and in determin- ing the relative value of the lands and water rights to be exchanged, consideration shall be given to any reservation made by either or both parties of any minerals or easements in the lands that may be exchanged . SEc. 2. No allotted or other lands covered by trust patent or other instrument containin g restrict ion agains t alienati on by the allottee shall be involved in any such exchange except with the consent of the allottees or their heirs . Any such allottees or their heirs are hereby authorized to relinquish to the United States any lands covered by such paten ts or othe r instrume nts and ac cept in li eu thereof assign- m ents of land w ithin t he new Indian reserv ations which a re here by authorized to be est ablished b y the Secr etary of t he Interio r out of any lands accepted by him pursuant to section 1 hereof
- Provided,
That any such Indian may receive an area of equal value to the area of the allotment relinquished by him and receive similar title to that relinquished should any of the lands accepted by the said Secretary be outside of the boundaries of the new reservations . SEc . 3. No tribal lands shall be involved in any such exchange except with the consent of a majority of the adult Indians entitled to the use thereof . All lands acquired pursuant to this Act, other than land to which title may be held by or in trust for individual Indians, shall be held by the United States in trust for the Indian tribe, band, o r group concer ned . Approved, April 20, 1937 . Los Angeles, Calif. Exchange of certain lands a nd water r ights with, for benefit of Indians. Proviso . Reservation of min- erals and easements . Exchange of lands covered by trust pat- ent, etc . Proviso . Indian to receive area of equal value . No tribal lands in . volved except with consent . April 22, 1937 [S. 1228] [Public, No. 441 National Housing Act, amendment. 49 Stat. 1233 . 12 U. S. C., Supp. 110 " 1706a. urance of finan- cial institutions, eligi- ble forcredit insurance, against loss; provisions extended. [CHAPTER 114] 75 TH CONGRESS, 1sT SESSION-CHS . 114, 121-APRIL 20, 22, 1937 . [CHAPTER 1211 AN ACT To amend the National Housing Act . Be it enacted by the Senate and House of Representatives of the United States o f America in Congress assembled, T hat sub section (a) of section 6 of the National Housing Act, as amended, is am ended t o read as foll ows "(a) The Administrator is authorized and empowered, upon such terms and conditions as he may prescribe, to insure banks, trust companies, personal finance companies, mortgage companies, build-
