Tennessee Valley Authority Financing: Hearings Before a Subcommittee of the Committee on Public Works, United States Senate, Eighty-fourth Congress, First Session, on S. 2373, a Bill to Amend the Tennessee Valley Authority Act of 1933. July 21, 22, and 27, 1955

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12. 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...
13. 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.
32. lappuse - The financial transactions of the Corporation for any fiscal year during which Federal funds are available to finance any portion of its operations may be audited by the General Accounting Office in accordance with the principles and procedures applicable to commercial corporate transactions and under such rules and regulations as may be prescribed by the Comptroller General of the United States.
13. 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...
14. lappuse - Budget that there is no objection to the submission of this legislation to the Congress and that its enactment would be in accord with the program of the President. Sincerely yours, GEORGE P.
13. 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.
24. lappuse - To Improve the navigability and to provide for the flood control of the Tennessee River; to provide for reforestation and the proper use of marginal lands In the Tennessee Valley; to provide for the agricultural and industrial development of said valley; to provide for the national defense by the creation of a corporation for the operation of Government properties at and near Muscle Shoals In the State of Alabama, and for other purposes.
32. lappuse - The audit shall be conducted at the place or places where the accounts of the corporation are normally kept. All books, accounts, financial records, reports, files, and all other papers, things, or property belonging to or in use by the...
230. lappuse - ... operation for the last completed fiscal year. Such budget program shall include a statement of financial condition, a statement of income and expense, an analysis of surplus or deficit, a statement of sources and application of funds, and such other supplementary statements and information as are necessary or desirable to make known the financial condition and operations of the corporation.
16. 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 for the power output of any such plant or other facility ; and for other purposes incidental thereto.

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