An Act to amend section 7 of the Federal Home Loan Bank Act, as amended.
PL 86-349 (S.2517), enacted 09/22/1959

73 S T A T . ] 
PUBLIC LAW 86-349-SEPT. 22, 1969 
SEC. 2. Any conveyances made pursuant to this Act shall be (A) 
at market value as determined by the Secretary of the Army in ac-
cordance with the formula set forth in section 3 of this Act; (B) upon 
term? and conditions determined by the said Secretary to be in the 
public interest; and (C) subject to reservations and restrictions de-
termined by the said Secretary to be necessary for the development, 
maintenance, or operation of the John Day lock and dam project. 
SEC. 3. The market value of any property conveyed under this Act 
shall be equal to the price for which the land was acquired by the 
United States, adjusted to reflect (A) any increase in the value thereof 
resulting from improvements placed thereon by the United States, 
excluding, however, any enhancement in value resulting from the 
construction of the John Day lock and dam; or (B) any decrease in 
the value thereof resulting from (1) any reservation, exception, 
restriction, or condition to which the conveyance is made subject; 
and (2) any damage to the land caused by the United States. 
SEC. 4. The Secretary of the Army may delegate any authority 
conferred upon him by this Act to any officer or employee of the 
Department of the Army. Any such officer or employee shall exercise 
the authority so delegated under rules and regulations approved by 
the Secretary. 
SEC. 5. The {proceeds from any conveyance made under this Act 
shall be covered into the Treasury of the United States as miscellaneous 
receipts. 
SEC. 6. This Act shall terminate six years after the date of its 
enactment. 
Approved September 22, 1959. 
625 
Termination. 
Public Law 86-349 
AN ACT 
To amend section 7 of the Federal Home Loan Bank Act, as amended. 
September 22,19S9 
[S. 2517] 
Be it enacted by the Senate and House of Representatives 
of the 
United States of Amerioa in Congress assembled^ That subsection (a) L
<
f *'^B ' r k"A""* 
of section 7 of the Federal Home Loan Bank Act, as amended, is amendment! 
hereby amended by striking out the language in the first sentence after gtaf ^'ifo* ^^^' ^^ 
the first colon and inserting in lieu of the matter so stricken the follow- 
12' use 1427. 
ing: ''''Provided^ That the Board may by regulation increase the num-
ber of elective directors of any Federal home loan bank having a 
district which includes five or more States to a number not exceeding 
thirteen, but any additional elective directors shall be apportioned as 
nearly as may be practicable in the same manner and order as is 
provided for the apportionment of elective directors under subsections 
(c) and (d) hereof: Provided further^ That there shall not be less 
than one nor more than three elective directors from any of the 
States in any district in which the number of elective directors is 
increased." 
SEC. 2. Subsection (b) of said section 7 is hereby amended by 
adding thereto at the end thereof the following sentence: "In the 
case of any district in which the Board has by regulation increased 
the number of elective directors pursuant to subsection (a) the Board 
may by regulation provide for an additional number of directors 
to be appointed and to hold office as provided in the first sentence of 
this subsection, but the total number of appointive directors shall 
not exceed one-half the total number of elective directors in such 
626 
PUBLIC LAW 86-360-SEPT. 22, 1969 
[73 STAT. 
district: Provided, That the terms of the initial incumbent of any 
office established pursuant to this sentence shall expire at the end 
of the fourth calendar year beginning with the calendar year current 
at the time of his appointment, except that the Board may provide 
for any such initial incumbent a shorter term expiring at the end 
of a calendar year." 
Approved September 22, 1959. 
Public Law 86-350 
Septeirf)er22, 1959 
A N A C T 
[s. 2655] 
rj,^ authorize the Secretary of the Army to credit equipment installation costs 
against rental under lease to T'nion Township of La Porte County, Indiana. 
Union Township 
of La Porte County, 
Be it enacted hy the Senate and House of Representatives 
of the 
United Stages of America in Congress assemhled, That the Secretary 
ind. 
" of the Army is authorized and directed to credit against the rental 
required to be paid under any existing lease between Union Town-
ship of La Porte (^ounty, Indiana, and the United States all reason-
able costs incurred by the said I^nion Township for the installation of 
a new boiler and heating system in connection with the premises under 
lease to the said Union Township at the Kingsbury Ordnance Plant, 
Kingsford Heights, Indiana. 
Approved September 22, 1959. 
Public Law 86-351 
Septen4,er22. 1959 
J O I N T R E S O L U T I O N 
[H. J. Res. 310] ^^ authorize the designation of the period of October 17 to October 24, 1959, 
as National Olympic Week. 
Whereas the games of the X V I I Olympiad will be held in Eome, 
Italy, August 25 to September 11, 1960, with winter games to be 
held at Squaw Valley, California, February 18 to February 28, 
1960; and 
Whereas these games will afford an opportunity of bringing together 
young men and women representing more than seventy nations, of 
many races, creeds, and stations in life and possessing various habits 
and customs, all bound by the universal appeal of friendly athletic 
competition, governed by rules of sportsmanship and dedicated to 
the principle that the important thing is for each and every partici-
pant to do his very best to win in a manner that will reflect credit 
upon himself or herself, and the country represented; and 
Whereas the peoples of the world in these trying times require above 
all else occasions for friendship and understanding, and among the 
most telling things which influence people of other countries are the 
acts of individuals and not those of governments; and 
Whereas experiences afforded by the Olympic games make a unique 
contribution to common understanding and mutual respect among 
all peoples; and 
Whereas previous Olympic games have proved that competitors and 
spectators alike have been imbued with ideals of friendship, chiv-
alry, and comradeship and impressed with the fact that accom-
plishment is reward in itself; and