Page:United States Statutes at Large Volume 74.djvu/632

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[74 Stat. 592]
[74 Stat. 592]
PUBLIC LAW 86-000—MMMM. DD, 1960


PUBLIC LAW 86-682-SEPT. 2, 1960



tion of the approval the Postmaster General shall transmit to those Committees a prospectus of the proposed project, including, but not limited to— (1) a brief description of the building located or to be erected at a given location; (2) an estimate of the maximum cost of site and building together with the term of years over which payments would run and the maximum rate of interest that would be acceptable for any deferred part of the cost; (3) a certificate of need for the space signed by the head of the agency which will use the facility; (4) a statement by the Postmaster General that suitable space owned by the Government is not available and that suitable rental space is not available at a price commensurate with that to be afforded through the contract proposed: (5) a statement of the managerial, custodial, heat and utility services to be provided by the contractor, or an estimate of their probable cost if to be supplied in any part by the Government; (6) a statement of the requirements for tax liability, upkeep and maintenance of the property by either the contractor or the Government during the period of the contract; (7) a statement of rents and other housing costs currently being paid by the Government for any agencies to be housed in the building to be erected; and (8) a statement in writing by the Director of the Bureau of the Budget that the project is necessary and in conformity with the policy of the President. The statement by the Director shall be based on budgetary and related considerations and does not constitute approval by the Director- of the specific terms or provisions of any proposed agreement or of the selection of any particular contractor or lessor. § 2108. Lease-purchase agreement provisions (a) Each lease-purchase agreement shall include such provisions as the Postmaster General deems to be in the best interest of the United States and appropriate to secure the performance of the obligations imposed upon the party that enters into an agreement with the United States. The agreement may not provide for any payment to be made by the United States in excess of the amount necessary, as determined by the Postmaster General, to— (1) amortize— (A) the cost of improvements to be constructed plus the fair market value, on the date of the agreement, of the site, if owned or acquired by the contractor, or (B) the fair market value, on the date of the agreement, of completed improvements together with the site thereof, or (C) a combination of the foregoing in the case of existing improvements to be remodeled by the contractor; and (2) provide a reasonable rate of interest on the outstanding principal as determined under item (1) of this subsection, and (3) reimburse the contractor for the cost of any other obligations assumed by him under the contract, including, but not limited to, payment of taxes, costs of carrying appropriate insurance, and costs of repair and maintenance if assumed by the contractor. (b) Each lease-purchase agreement entered into pursuant to sections 2104 and 2105 of this title shall provide for equal annual payments for the amortization of principal with interest thereon. The Postmaster General may not enter into the contract unless the amount of the annual payment required by it plus the aggregate of the an-