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B-209981 1 (1982-12-30)

handle is hein.gao/gaobadkus0001 and id is 1 raw text is: DECISION FILE: B-209981 THE COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON. 0.C. 20548 DATE: December 30, 1982 MATTER OF: Proposed Agreement for Exchange of Lands for Federal Coal Lease Bidding Rights 1. Rattlesnake National Recreation Area and Wilderness Act of 1980 authorized exchange of Montana Power Company's lands for equal value of bidding rights for competitive Federal coal leases. Proposed Exchange Agreement would require Treasury to pay State of Montana 50 percent share of total re- ceived, including bidding rights, under section 35 of Mineral Lands Leasing Act of 1920, 30 U.S.C. § 191, which pro- vides for remitting money received by Treasury. Since bidding rights are not money, State payment may not be based on their receipt. 2. Under proposed Exchange Agreement where Montana Power Company's total payment is in cash but it is accom- panied by notice of use of bidding rights, Treasury would be required to pay Company for the amount of rights used pursuant to the notice. Reim- bursement to Company is not proper ab- sent authority to retire bidding rights by payment and lack of available appro- priation for that purpose. 3. Proposed Exchange Agreement calls for increased bidding rights for Montana Power Company at 10 percent interest rate on outstanding unused bidding rights. Increase in value of bidding rights is not legally permissible since their value is limited to fair market value of lands under section 4(b)(2) of the Rattlesnake National Recreation Area and Wilderness Act, 16 U.S.C. § 46011-3(b)(2) (Supp. IV) 1980). We received a request from the Director of the Bureau of Land Management (BLM), Department of the Interior DIGEST:

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