§460f Notice and Method of Sale; Price; Conveyance

Summary

Requires public notice when reservoir land is put up for sale for cottage sites. The Secretary of the Army sets how notice is given and must publish it near the land. Current cottage lessees must get written notice within 90 days after those regulations are published in the Federal Register, and that notice must state the land’s appraised fair market value. The Secretary of the Army may sell the land by auction, sealed bids, or negotiated sale after competitive bidding. Sale price must be at least the appraised fair market value. The Secretary may transfer the United States’ interest by quitclaim deed, but the land must be used only for cottage sites; if used otherwise, ownership and improvements return to the United States. The Secretary can add other conditions needed for reservoir management or to protect nearby owners.