Revenue Bond Financing by TVA.: Hearings Before a Subcommittee of the Committee on Public Works, United States Senate, Eighty-sixth Congress, First Session, on S. 931 and H.R. 3460, Bills to Amend the Tennessee Valley Authority Act of 1933, as Amended, and for Other Purposes
U.S. Government Printing Office, 1959 - 276 lappuses
Considers S. 931 and similar H.R. 3460, to amend the Tennessee Valley Authority Act of 1933 and the Government Corporation Appropriation Act of 1948 to authorize the sale of tax-exempt interest bearing securities by TVA to finance expansion of facilities and services. Focuses on the economic and competitive relationships between private utilities and the TVA.
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additional agency agreement Alabama amendment amount appropriation approval arrangements believe bill Board Budget Bureau capacity Chairman coal committee concerned Congress construction continue contract cost counties customers distribution effect electric electric power energy engineering existing expansion facilities fact Federal financing Fulton funds further Government Corporation House industry interest investment issue Kentucky Kentucky Utilities kilowatts language legislation limitation ment miles million necessary obligations operations passed percent period permit plant position present President proceeds production properties proposed purchase question rates reason record referred represent respect responsibility revenue bonds River ROBBINS rural Secretary securities Senator COOPER Senator KERR served service area statement supply Tennessee Valley Authority territory Thank tion towns Treasury TVA power United Utilities
166. lappuse - States, and such guaranty shall be expressed on the face thereof, and such bonds shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
3. lappuse - The Corporation shall charge rates for power which will produce gross revenues sufficient to provide funds for operation, maintenance, and administration of its power system; payments to States and counties in lieu of taxes; debt service on outstanding bonds, including provision and maintenance of reserve funds and other funds established in connection therewith; payments to the Treasury as a return on the appropriation investment pursuant to subsection (e) hereof...
76. lappuse - ... shall be paid into the Treasury of the United States at the end of each calendar year.
166. lappuse - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
68. lappuse - The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations to be issued hereunder and for such purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of such notes and obligations.
2. lappuse - State or local taxing authority except estate, inheritance, and gift taxes; and (5) not be obligations of, nor shall payment of the principal thereof or interest thereon be guaranteed by, the Government of the United States, except as provided in section 2006(c) of this title.
177. lappuse - The issuance and sale of bonds by the Corporation and the expenditure of bond proceeds for the purposes specified herein, including the addition of generating units to existing power-producing projects and the construction of additional power-producing projects, shall not be subject to the requirements or limitations of any other law...
63. lappuse - The budget program shall be a business-type budget, or plan of operations, with due allowance given to the need for flexibility, including provision for emergencies and contingencies, in order that the corporation may properly carry out its activities as authorized by law.
4. lappuse - ... bonds and as otherwise provided herein, and this section shall be construed to effectuate such intent.
1. lappuse - Corporation is authorized to issue and sell bonds, notes, and other evidences of indebtedness (hereinafter collectively referred to as 'bonds') in an amount not exceeding $750,000,000 outstanding at any one time to assist in financing its power program and to refund such bonds. The Corporation may, in performing functions authorized by this Act, use the proceeds of such bonds for the construction, acquisition, enlargement, improvement, or replacement of any plant or other facility used or to be used...