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 PurposesU.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 Power Alabama Power Co American Electric Power appropriation investment approval believe bond financing Budget Bureau Chairman coal committee Congress congressional construction contract Corporation Control Act counties customers distribution system drainage basin electric power engineering existing expansion Federal Government fiscal FOCKE funds Georgia Georgia Power Glasgow Government Corporation Control included industry interconnect interest issuance issue Kentucky Utilities kilowatts language MCCARTHY ment Mississippi Monticello needs obligations operations Paducah percent permit power companies power facilities power revenues President Princeton private power properties purchase rates repayment represent revenue bonds ROBBINS Rural Electric Cooperative SCHWARTZ Secretary Senator COOPER Senator KERR Senator RANDOLPH South Fulton square miles statement supply taxes Tennessee River Tennessee Valley Authority territorial limitation Thank tion towns transmission Treasury TVA power TVA service area TVA's U.S. Senate United Vinson amendment VOGEL WATT
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74. lappuse - the corporation and from any other activities of the corporation, including the disposition of any real or personal property, shall he paid into the Treasury of the United States at the end of each calendar year, save and except such part of such proceeds as, in the opinion of the Board,
73. lappuse - of Government corporations, expressly states that its provisions— shall not be construed as preventing Government corporations from carrying out and financing their activities as authorized by existing law nor as affecting the provisions of section 26 of the Tennessee Valley Authority Act, as amended.
180. lappuse - Bonds issued by the corporation hereunder shall not be obligations of, nor shall payment of the principal thereof or interest thereon be guaranteed by, the United States." It is evident that the borrowing that would
66. lappuse - and shall bear interest equal to the average rate (rounded to the nearest one-eighth of a percent) on outstanding marketable obligations of the United States with maturities (from dates of issue) of one year or less, as of the close of the month preceding the issuance of the obligations of the Corporation.
61. lappuse - The budget program shall be a business-type budget, or plan of operations, with due allowance given to the need for flexibility, including provisions for emergencies and contingencies in order that the Corporation may properly carry out its activities as authorized by law.
5. lappuse - of said fiscal year applied to said appropriation investment. Payments due hereunder may be deferred for not more than two years when, in the judgment of the Board of Directors of the Corporation, such payments cannot feasibly be made because of inadequacy of funds occasioned by drought, poor business conditions, emergency replacements, or other factors beyond the control of the Corporation.
6. lappuse - 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; and such additional
7. lappuse - may deem necessary or desirable to enhance the marketability of said bonds. 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
66. lappuse - For the purpose of any purchase of the Corporation's obligations the Secretary of the Treasury 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 the Second Liberty Bond Act, as amended, are extended to include any purchases of the Corporation's obligations hereunder.
175. lappuse - statement is presented on behalf of the National Association of Manufacturers, a voluntary association of some 20,000 business enterprises which produce about three-quarters of the Nation's manufactured goods. Over 83 percent of these business enterprises employ less than 500 persons and thus fall within