[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4059 Introduced in House (IH)]







104th CONGRESS
  2d Session
                                H. R. 4059

   To provide for the acquisition of certain property on Santa Cruz 
                                Island.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 11, 1996

Mrs. Seastrand introduced the following bill; which was referred to the 
                         Committee on Resources

_______________________________________________________________________

                                 A BILL


 
   To provide for the acquisition of certain property on Santa Cruz 
                                Island.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
    Section 202 of Public Law 96-199 (16 U.S.C. 410ff-1) is amended by 
adding the following new subsection at the end thereof:
    ``(e)(1) Notwithstanding any other provision of law, effective 90 
days after the date of enactment of this subsection, all right, title, 
and interest in and to, and the right to immediate possession of, the 
real property on the eastern end of Santa Cruz Island which is known as 
the Gherini Ranch is hereby vested in the United States, except for the 
reserved rights of use and occupancy set forth in Instrument No. 90-
027494 recorded in the Official Records of the County of Santa Barbara, 
California.
    ``(2) The United States shall pay just compensation to the owners 
of any real property taken pursuant to this subsection, determined as 
of the date of taking. The full faith and credit of the United States 
is hereby pledged to the payment of any judgment entered against the 
United States with respect to the taking of such property. Payment 
shall be in the amount of the agreed negotiated value of such real 
property plus interest or the valuation of such real property awarded 
by judgment plus interest. Interest shall accrue from the date of 
taking to the date of payment. Interest shall be compounded quarterly 
and computed at the rate applicable for the period involved, as 
determined by the Secretary of the Treasury on the basis of the current 
average market yield on outstanding marketable obligations of the 
United States of comparable maturities from the date of enactment of 
this subsection to the last day of the month preceding the date on 
which payment is made.
    ``(3) In the absence of a negotiated settlement, or an action by 
the owner, within 1 year after the date of enactment of this 
subsection, the Secretary shall initiate a proceeding, seeking in a 
court of competent jurisdiction a determination of just compensation 
with respect to the taking of such property.''.
                                 <all>