73 S T A T. ]
PUBLIC LAW 8 6 - 1 2 5 - J U L Y 31, 1959
271
"(7) the mortgage complies with all of the requirements of section 1104(a) of this Act (which defines an eligible mortgage) | | Stat. i269. except subdivision 2 thereof (which specifies the maximum prinRequirements, cipal amount of the mortgage), subdivision 3 thereof (^which compliance. specifies the maximum duration of the mortgage), and subdivision 8 thereof (which specifies the purpose of the loan secured by the mortgage); "(8) the mortgaged vessel shall be in class A - 1, American ic^^*.^ ^'^^*"^"' Bureau of Shipping, with all required certificates, including but not limited to marine inspection certificates of the United States Coast Guard, with all outstanding requirements and recommendations necessary for retention of class accomplished, unless the Secretary of Commerce permits a deferment of such repairs, and shall be tight, stanch, strong and well and sufficiently tackled, appareled, furnished and equipped^ and in every respect seaworthy and in good running condition and repair and in all respects fit for service." SEC. 2. Section 1104(a)(2) of the Merchant Marine Act, 1936, as '^^ "^c 1274, amended, is amended by striking out of the proviso the words: "That in the case of 'a vessel, the size and speed of which are approved by the Secretary of Commerce, which is eligible for mortgage aid" and inserting in lieu thereof the words: "That in the case of a vessel, the size and speed of which are approved by the Secretary of Commerce, and which is, or in the case of a vessel to be reconstructed or reconditioned would have been, eligible for mortgage aid for construction". Approved July 31, 1959.
Public Law 86-124 AN ACT To provide for equal treatment of all State-owned hydroelectric power projects with respect to the taking over of such projects by the United States.
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Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Act en- ^}}X.flZ.1^ l^^^^ titled "An Act to facilitate the development and construction of power projects. water conservation facilities by States and municipalities, and for other purposes", approved August 15, 1953 (Public Law 278, Eightythird Congress, 67 Stat. 587; 16 U.S.C. 828) is hereby amended by deleting from section 3 thereof the following: ", except that the provisions of section 14 and section 4(b) shall continue to be applicable to any license issued for a hydroelectric development in the International Rapids section of the Saint Lawrence River". Approved July 31, 1959. Public Law 86-125 AN ACT To make payments to Indians for destruction of fishing rights at Celilo Falls exempt from income tax.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the funds paid by the United States to Indian tribes, the portion of such funds subsequently distributed to members of the tribes or to trustees for or representatives of such members, and the funds paid by the United
July 31^ 1959 [s. 19 76]
Indians.
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