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<br />001064 <br /> <br />the location of its principal office, and in the event it later makes a change <br />in such location, the Corporation shall file with the Secretary of State <br />public notice of suoh seleotion or ohan~e. <br /> <br />[, <br /> <br />(c) The President is authorized, whenever in his judgment the purposes <br />of this Aot and the interests of economy and efficienoy will be served thereby, <br />to transfer to the Corporation the use, control, and operation of any dam <br />(together with appurtenant works) constructed, under construction, or hereafter <br />constructed by or on behalf of the United States, and of such other real or <br />personal property of the United States as he may from time to time deem <br />necessary and proper for the purposes of the Corporation as herein stated. In <br />connection vdth any such transfer, the President may make suoh provision as he <br />deems necessary or appropriate for the transfer to the Corporation of unexpended <br />balances of appropriations available for use in respeot of suoh dam and appurt- <br />enant works, and of suoh other property, together with personnel, equipment, <br />and any powers, duties, and obligations pertaining thereto. <br /> <br />. <br /> <br />, <br /> <br />SEC. 3. (a) The Corporation shall be directed and oontrolled by a board <br />of three direotors, who shall be appointed by the President, by and with the <br />advice and consent of the Senate. In appointing the members of the board the <br />President shall designate the chairman. All other officials, agents, and <br />employees shall be designated and selected by the Corporation. All matters of <br />policy shall be considered and determined by the board of direotors acting as <br />a bcard. Eaoh member cf the board, before enterin~ upon the duties of his <br />cffice, shall subscribe to, an cath (cr affirmaticn) to, support the Ccnstituticn <br />cf the United States and to, perfcrm fai thf\.111y and impartially the duties <br />imposed upcn him by this Act. <br /> <br />. <br /> <br />(b) The terms cf cffice cf the members first taking offioe after the <br />approval cf this Ant shall expire as designated by the President at the time cf <br />nomination, one at the end of the third year, one at the end cf the sixth year, <br />and one at the end Cf the ninth year after the date of approval of this Act. <br />A sucoessor to a member of the board shall be appointed in the same manner as <br />the original members and shall have a term cf cffioe expiring nine years frcm <br />the date of the expiration cf the term for which his predecesscr was appointed. <br /> <br />(c) Any member appointed to fill a vacanoy in the bcard oocurring pricr <br />to, the expiration cf the term fcr which his predecesscr was appointed shall be <br />appcinted fcr the remainder of such term. <br /> <br />{ <br /> <br />(d) Vacancies in the bcard, so long as there shall be two members in <br />office, shall not impair the powers cf the board to execute the functions of <br />the Corporation, and two of the members in office sball constitute a quorum for <br />the transacticn of the business cf the board. <br /> <br />'. <br /> <br />-2- <br />