16 U.S.C. § 470w-8 : US Code - Section 470W-8: Historic light station sales

Search 16 U.S.C. § 470w-8 : US Code - Section 470W-8: Historic light station sales

(a) In general
In the event no applicants are approved for the conveyance of a
historic light station pursuant to section 470w-7 of this title,
the historic light station shall be offered for sale. Terms of such
sales shall be developed by the Administrator of General Services
and consistent with the requirements of section 470w-7,
subparagraphs (A) through (D) and (H) of subsection (c)(1), and
subsection (c)(2), of this title. Conveyance documents shall
include all necessary covenants to protect the historical integrity
of the historic light station and ensure that any Federal aid to
navigation located at the historic light station is operated and
maintained by the United States for as long as needed for that
purpose.
(b) Net sale proceeds
Net sale proceeds from the disposal of a historic light station -

(1) located on public domain lands shall be transferred to the
National Maritime Heritage Grant Program, established by the
National Maritime Heritage Act of 1994 (Public Law 103-451) [16
U.S.C. 5401 et seq.] within the Department of the Interior; and
(2) under the administrative control of the Coast Guard shall
be credited to the Coast Guard's Operating Expenses appropriation
account, and shall be available for obligation and expenditure
for the maintenance of light stations remaining under the
administrative control of the Coast Guard, such funds to remain
available until expended and shall be available in addition to
funds available in the Operating Expense appropriation for this
purpose.