B-131926, MAY 31, 1957

B-131926: May 31, 1957

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THE LETTER STATES THAT THE SALE OF THE TORRY WAS EFFECTED JANUARY 18. THAT IT WAS YOUR DEPARTMENT'S INTENTION TO USE THE PROCEEDS OF THE SALE TOWARD THE PURCHASE OF A REPLACEMENT VESSEL PURSUANT TO THE AUTHORITY CONTAINED IN SECTION 201/C) OF THE FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES ACT OF 1949. NEGOTIATIONS ARE EXPECTED TO BE COMPLETED FOR THE CONSTRUCTION OF A SUITABLE REPLACEMENT IN THE VERY NEAR FUTURE. INASMUCH AS FUNDS OBTAINED FROM THE SALE OF PERSONAL PROPERTY ARE AVAILABLE DURING THE FISCAL YEAR IN WHICH THE SALE IS MADE AND FOR ONE FISCAL YEAR THEREAFTER FOR OBLIGATION FOR THE PURCHASE OF REPLACEMENT ITEMS. REQUEST IS MADE FOR AN EXTENSION OF TIME. AUTHORITY IS HEREBY GRANTED TO APPLY THE PROCEEDS OF THE SALE OF THE TORRY TOWARD THE PURCHASE OF A REPLACEMENT VESSEL PROVIDED SUCH REPLACEMENT IS PURCHASED ON OR BEFORE JUNE 30.

B-131926, MAY 31, 1957

TO THE SECRETARY OF THE INTERIOR:

ON MAY 20, 1957, THE ADMINISTRATIVE ASSISTANT SECRETARY REQUESTED AN EXTENSION OF THE PERIOD DURING WHICH THE PROCEEDS OF THE SALE OF THE MOTOR VESSEL TORRY MAY BE APPLIED TO THE PURCHASE OF A REPLACEMENT VESSEL.

THE LETTER STATES THAT THE SALE OF THE TORRY WAS EFFECTED JANUARY 18, 1956, AND THAT IT WAS YOUR DEPARTMENT'S INTENTION TO USE THE PROCEEDS OF THE SALE TOWARD THE PURCHASE OF A REPLACEMENT VESSEL PURSUANT TO THE AUTHORITY CONTAINED IN SECTION 201/C) OF THE FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES ACT OF 1949, 63 STAT. 384, AS AMENDED. HOWEVER, IN THE TIME WHICH HAS ELAPSED SINCE THE SALE OF THE TORRY, DIFFICULTY HAS BEEN EXPERIENCED IN FINDING A REPLACEMENT. NEGOTIATIONS ARE EXPECTED TO BE COMPLETED FOR THE CONSTRUCTION OF A SUITABLE REPLACEMENT IN THE VERY NEAR FUTURE. INASMUCH AS FUNDS OBTAINED FROM THE SALE OF PERSONAL PROPERTY ARE AVAILABLE DURING THE FISCAL YEAR IN WHICH THE SALE IS MADE AND FOR ONE FISCAL YEAR THEREAFTER FOR OBLIGATION FOR THE PURCHASE OF REPLACEMENT ITEMS, EXCEPT AS OTHERWISE SPECIFICALLY AUTHORIZED (ACCOUNTING SYSTEMS MEMORANDUM NO. 23-REVISED, 32 COMP. GEN. 641), REQUEST IS MADE FOR AN EXTENSION OF TIME, UNTIL JUNE 30, 1958.

IN VIEW OF THE SPECIAL NATURE OF THE PERSONAL PROPERTY INVOLVED AND THE REPORTED DIFFICULTY IN OBTAINING A SUITABLE REPLACEMENT, AUTHORITY IS HEREBY GRANTED TO APPLY THE PROCEEDS OF THE SALE OF THE TORRY TOWARD THE PURCHASE OF A REPLACEMENT VESSEL PROVIDED SUCH REPLACEMENT IS PURCHASED ON OR BEFORE JUNE 30, 1958.

THE PAPERS SUPPORTING THE TRANSACTION SHOULD CONTAIN A REFERENCE TO THIS DECISION.