40 USC 556 – Disposal of dredge vessels
(a)
Terms Used In 40 USC 556
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- vessel: includes every description of watercraft or other artificial contrivance used, or capable of being used, as a means of transportation on water. See 1 USC 3
(b)
(1) through sale or lease to—
(A) a foreign government as part of a Corps of Engineers technical assistance program;
(B) a federal or state maritime academy for training purposes; or
(C) a non-federal public body for scientific, educational, or cultural purposes; or
(2) through sale solely for scrap to foreign or domestic interests.
(c)
(d)