72 S T A T. ]
PUBLIC LAW 8 5 - 9 1 3 - S E P T. 2, 1958
1759
Public Law 85-913 AN ACT To amend the Virgin Islands Corporation Act (63 Stat. 350), and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 4(a) of the Virgin Islands Corporation Act (63 Stat. 350, 352; 48 U.S.C. 1407c (a)) is hereby amended to read as follows: " (a) To have succession until June 30, 1969, unless sooner dissolved by Act of Congress. At such time as the Board of Directors finds that the economic development of the Virgin Islands of the United States will be served effectively by the sale of some or all of the assets of the Corporation to private enterprise, such disposal may be effected, and for this purpose the Board of Directors is authorized to sell any or all such assets at such time as it considers appropriate for a fair and reasonable value, without regard to the provisions of the Federal Property and Administrative Services Act of 1949, as amended, or any other law: Provided, That the sale of any property valued at $500 or more shall be made only after public advertisement and by sealed competitive bids or public auction: Provided further, That in either such case the Government of the Virgin Islands shall have the right to purchase the property at a price not greater than that offered by the highest responsible bidder and that, in the case of sales of property valued at less than $500, it shall have a right to purchase at a price not greater than that offered by responsible prospective purchasers. SEC. 2. The first sentence of section 4(i) of said Act is hereby amended to read as follows: "(i) To appoint, without regard to the provisions of the civilservice laws, such officers, agents, attorneys, and employees as may be necessary for the conduct 01 the business of the Corporation; to delegate to them such powers and to prescribe for them such duties as may be deemed appropriate by the Corporation; to establish an efficiency or merit rating system, as may be desirable; to fix and paysuch compensation to them for their services as the Corporation may determine, without regard to the provisions of the classification laws except to the extent that these laws may be extended to the Corporation by the President of the United States; without regard to the provisions of any other law, to establish hours of work, conditions governing the payment of compensation for overtime hours, and working rules and working conditions generally; and to require bonds from such of them as the Corporation may designate, the premiums therefor to be paid by the Corporation.'" SEC. 3. Section 4 ot said Act is hereby amended by adding at the end thereof the following new subsections (o) and (p): "(o) To construct, operate, and maintain salt water distillation facilities in Saint Thomas, Virgin Islands. Such facilities shall be used to supply water for sale to the government of the Virgin Islands and to persons purchasing directly from the Corporation: Provided, That the principal contract for the construction of such facilities shall not be executed by the Corporation— "(i) until the government of the Virgin Islands has contracted to purchase a minimum quantity of water at a price established by the Corporation, and the price established by the Corporation for sale of water shall be calculated to cover, as a minimum, all costs of construction, operation, and maintenance of such water distillation facilities, including but not limited to depreciation 98395-59-PT. I - l l l
September 2, 1958
[H.R. 12226]
V i r g i n Islands Corporation Act, amendments. TerminatIon date.
Sale of a s s e t s.
63 Stat. 377. 40 USC 4 7 1 note.
48 USC 1407c. Appointment of employees, etc.
Salt Water d i s t i l l a t i o n plant, construction authority.
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