Amending the TVA Act: Hearings Before a Subcommittee of the Committee on Public Works, United States Senate, Eighty-fifth Congress, First Session, on S. 1855 [and Other] Bills to Amend the Tennessee Valley Authority Act to Provide Financing Improvements with Proceeds from Revenue Bonds, and for Other Purposes
U.S. Government Printing Office, 1957 - 227 lappuses
Considers legislation to revise TVA authority to issue and sell revenue bonds to finance electric power programs.
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additional agency amended amount appropriation approval believe bill Board Budget build Bureau capacity capital Chairman charge Commission committee concerned Congress construction continue Corporation cost course economic effect electric Electric Cooperative electric power Ellis energy engineering enterprise existing expansion facilities fact Federal Government figure financing funds further give income increase industry interest investment issuance issue legislation limitation lines matter mean meet ment million needs obligations operations paid payments percent period plant present President private power companies proceeds projects proposed purchase question rates reason record referred respect responsibility result revenue bonds SAMMIS Senator COOPER Senator GORE Senator Hill Senator KERR served statement supply taxes Tennessee Valley Authority tion Treasury TVA's United utility WESSENAUER
5. 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 - 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.
2. lappuse - Net power proceeds are defined for purposes of this section as the remainder of the Corporation's gross power revenues after deducting the costs of operating, maintaining, and administering its power properties (including costs applicable to that portion of its multiple-purpose properties allocated to, power) and, payments: to States and counties in lieu of taxes but before deducting depreciation accruals or other charges representing the amortization of capital expenditures, plus the net proceeds...
78. lappuse - 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 for the generation or transmission of electric power (including the portion of any multiplepurpose structure used or to be used for power generation) ; as may be required in connection with the lease, lease-purchase, or any contract tor the power output of any such plant or other facility ; and for other purposes incidental thereto.
7. lappuse - No such bonds shall be issued or sold, nor shall the proceeds thereof be used, except as necessary for such of the foregoing purposes as may be approved by the Congress in connection with its consideration of the Corporation's budget programs transmitted by the President pursuant to the provisions of the Government Corporation Control Act, as amended (31 USC...
4. 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.
87. lappuse - The President shall, from time to time, as the work provided for in the preceding section progresses, recommend to Congress such legislation as he deems proper to carry out the general purposes stated in said section, and for the especial purpose of bringing about in said Tennessee drainage basin and adjoining territory in conformity with said general purposes (1) the maximum amount of flood control; (2) the maximum development of...
75. lappuse - We are fully persuaded that the full success of the Tennessee Valley development project will depend more upon the ability, vision, and executive capacity of the members of the board than upon legislative provisions.
8. lappuse - Corporation shall also contribute to the employee's compensation fund, on the basis of annual billings as determined by the Secretary of Labor, for the benefit payments made from such fund on account of the Corporation's employees. The annual billings shall also include a statement of the fair portion of the cost of the administration of the respective funds, which shall be paid by the Corporation into the Treasury as miscellaneous receipts.
187. lappuse - Mr. Chairman and gentlemen of the committee, my name is Clyde T. Ellis. I am general manager of the National Rural Electric Cooperative Association, the national service organization of the rural electric systems of the United States, including Alaska.