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Louisville plant, shall submit it to the Attorney General, who shall, within seven days after receiving the lease or lease extension, advise the Commission whether the proposed lease or lease extension would tend to create or maintain a situation inconsistent with the antitrust laws.

SEC. 6.195 (a) Notwithstanding any provision of the Rubber Producing Facilities Disposal Act of

1953, as amended, or of this Act, the Rubber Producing Facilities Disposal Commission may enter into contracts of sale and may from time to time enter into leases for all or any part of the catalyst manufacturing equipment now situated in Baltimore, Maryland, and generally described in the Commission's brochure M-2 dated March 1954.

(b) Except as provided in this paragraph, each such lease or contract may be made on such terms and conditions, including type of use and duration (up to fifteen years) of any lease, as the Commission deems advisable in the public interest. Before making such sale or lease, the Commission shall secure the advice of the Attorney General as to whether the proposed sale or lease would tend to create or maintain a situation inconsistent with the antitrust laws. Each such lease or contract of sale shall contain a national security clause, containing such terms and for such duration (ten years or less) as the Commission deems desirable in the public interest, and any such lease shall provide for the recapture of the equipment thereby leased and the termination of the lease, if the President determines that the national interest so requires.

The price for any part or all of such equipment shall be an amount which the Commission determines to be the maximum amount obtainable in the public interest, but not less than fair value as determined by the Commission.

INTERSTATE OIL AND GAS COMPACT 195

[PUBLIC LAW 88-115, 88TH CONGRESS, 1ST SESSION]

(S.J. Res. 33)

JOINT RESOLUTION Consenting to an extension and renewal of the Interstate

Compact to conserve oil and gas. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That the consent of Congress is hereby given to an extension and renewal for a period of four years from September 1, 1963, to September 1, 1967, of the Interstate Compact To Conserve Oil and Gas, which was signed in the city of Dallas, Texas, the 16th day of February 1935 by the representatives of Oklahoma, Texas, California, and New Mexico, and at the same time and place was signed by the representatives, as a recommendation for approval to the Governors and Legislatures of the States of Arkansas, Colorado, Illinois, Kansas, and Michigan, and which prior to August 27, 1935, was presented to and approved by the Legislatures and Governors of the States of New Mexico, Kansas, Oklahoma, Illinois, Colorado, and Texas, and which so approved by the six States last above-named was deposited in the Department of State of the United States, and thereafter was consented to by the Congress in Public Resolution Numbered 64, Seventy-fourth Congress, approved August 27, 1935, for a period of two years, and thereafter was extended by the representatives of the compacting States and consented to by the Congress for successive periods, without interruption, the last extension being for the period from September 1, 1959, to September 1, 1963, consented to by Congress by Public Law Numbered 143, Eighty-sixth Congress, approved August 7, 1959. The agreement to extend and renew said compact for a period of four years from September 1, 1963, to September 1, 1967, duly executed by representatives of the States of Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Montana, Nebraska, Nevada, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia, and Wyoming, has been deposited in the Department of State of the United States, and reads as follows:

196 March 21, 1956, sec. 6 (a) and (b), 70 Stat. 53, 50 U.S.C. App. 1941 f., note; Public Law 433, 84th Cong.

196 Joint Resolution, Sept. 6, 1963, 77 Stat. 145 ; Public Law 88–115 (not codified).

"AN AGREEMENT TO EXTEND THE INTERSTATE

COMPACT TO CONSERVE OIL AND GAS

“WHEREAS, on the 16th day of February, 1935, in the City of Dallas, Texas, there was executed "AN INTERSTATE COMPACT TO CONSERVE OIL AND GAS' which was thereafter formally ratified and approved by the States of Oklahoma, Texas, New Mexico, Illinois, Colorado, and Kansas, the original of which is now on deposit with the Department of State of the United States, a true copy of which follows:

"AN INTERSTATE COMPACT TO CONSERVE OIL

AND GAS

666

"'ARTICLE I

“ “This agreement may become effective within any compacting state at any time as prescribed by that state, and shall become effective within those states ratifying it whenever any three of the States of Texas, Oklahoma, California, Kansas, and New Mexico have ratified and Congress has given its consent.' Any oil-producing state may become a party hereto as hereinafter provided.

666 ARTICLE II

66

"The

purpose of this compact is to conserve oil and gas by the prevention of physical waste thereof from any cause.

6 ARTICLE III

“ 'Each State bound hereby agrees that within a reasonable time it will enact laws, or if the laws have been enacted, then it agrees to continue the same in force, to accomplish within reasonable limits the prevention of:

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(a) The operation of any oil well with an inefficient gas-oil ratio.

6'(b) The drowning with water of any stratum capable of producing oil or gas, or both oil and gas, in paying quantities.

"(c) The avoidable escape into the open air or the wasteful burning of gas from a natural gas

well. (d) The creation of unnecessary fire hazards. “e) The drilling, equipping, locating, spacing or operating of a well or wells so as to bring about physical waste of oil or gas or loss in the ultimate recovery thereof,

(f) The inefficient, excessive or improper use of the reservoir energy in producing any well.

“The enumeration of the foregoing subjects shall not limit the scope of the authority of any state.

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6 'Each state bound hereby agrees that it will, within a reasonable time, enact statutes, or if such statutes have been enacted then that it will continue the same in force, providing in effect that oil produced in violation of its valid oil and/or gas conservation statutes or any valid rule, order or regulation promulgated thereunder, shall be denied access to commerce; and providing for stringent penalties for the waste of either oil or gas.

ARTICLE V

6

“ 'It is not the purpose of this compact to authorize the states joining herein to limit the production of oil or gas for the purpose of stabilizing or fixing the price thereof, or create or perpetuate monopoly, or to promote regimentation, but is limited to the purpose of conserving oil and gas and preventing the avoidable waste thereof within reasonable limitations.

66 ARTICLE VI

“ Each State joining herein shall appoint one representative to a commission hereby constituted and designated as

THE INTERSTATE OIL COMPACT COMMISSION

the duty of which said commission shall be to make inquiry and ascertain from time to time such methods, practices, circumstances, and conditions as may be disclosed for bringing about conservation and the prevention of physical waste of oil and gas, and at such intervals as said commission deems beneficial it shall report its findings and recommendations to the several States for adoption or rejection.

* The Commission shall have power to recommend the co-ordination of the exercise of the police powers of the several States within their several jurisdictions to promote the maximum ultimate recovery from the petroleum reserves of said states, and to recommend measures for the maximum ultimate recovery of oil and gas. Said Commission shall organize and adopt suitable rules and regulations for the conduct of its business.

" "No action shall be taken by the Commission except: (1) by the affirmative votes of the majority of the whole number of the compacting States represented at any meeting, and (2) by a concurring vote of a majority in interest of the compacting States at said meeting, such interest to be determined as follows: such vote of each State shall be in the decimal proportion fixed by the ratio of its daily average production during the preceding calendar half-year to the daily average production of the compacting States during said period.

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"No State by joining herein shall become financially obligated to any other State, nor shall the breach of the terms hereof by any State subject such State to financial responsibility to the other States joining herein.

6 ARTICLE VIII " This compact shall expire September 1, 1937. But any State joining herein may, upon sixty (60) days notice, withdraw herefrom.

“The representatives of the signatory States have signed this agreement in a single original which shall be deposited in the archives of the Department of State of the United States, and a duly certified copy shall be forwarded to the Governor of each of the signatory states. “This compact shall become effective when ratified and approved

" as provided in Article I. Any oil-producing State may become a party hereto by affixing its signature to a counterpart to be similarly deposited, certified, and ratified.'

*WHEREAS, the said Interstate Compact to Conserve Oil and Gas has heretofore been duly renewed and extended with the consent of the Congress to September 1, 1963; and,

“WHEREAS, it is desired to renew and extend the said Interstate Compact to Conserve Oil and Gas for a period of four (4) years from September 1, 1963, to September 1, 1967:

Now, therefore, this writing witnesseth: "It is hereby agreed that the Compact entitled

"AN INTERSTATE COMPACT TO CONSERVE OIL AND GAS? executed in the City of Dallas, Texas, on the 16th day of February, 1935, and now on deposit with the Department of State of the United States, a correct copy of which appears above, be, and the same hereby is, extended for a period of four (4) years from September 1, 1963, its present date of expiration, to September 1, 1967. This agreement shall become effective when executed, ratified, and approved as provided in Article I of the orignal Compact.

"The signatory States have executed this agreement in a single original which shall be deposited in the archives of the Department of State of the United States and a duly certified copy thereof shall be forwarded to the Governor of each of the signatory States. Any oilproducing state may become a party hereto by executing a counterpart of this agreement to be similarly deposited, certified, and ratified.

"EXECUTED by the several undersigned states, at their several state capitols, through their proper officials on the dates as shown, as duly authorized by statutes and resolutions, subject to the limitations and qualifications of the acts of the respective State Legislatures.

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40-546-65-49

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"THE STATE OF ALABAMA

"By JOHN PATTERSON, Governor

John “Date: 944-62 “Attest: BETTYE FRINK

"Secretary of State “(SEAL) “THE STATE OF ALASKA

"By WILLIAM A. EGAN, Governor "Dated: 9-21-62 "Attest: HUGH J. WADE

“Secretary of State "(SEAL) “THE STATE OF ARIZONA

“By PAUL J. FANNIN, Governor "Dated : 11-1-61 "Attest: WESLEY BOLIN

“Secretary of State “(SEAL) "THE STATE OF ARKANSAS

“By ORVAL E. FAUBUS, Governor "Dated: 8-15-62 “Attest: NANCY J. HALL

“Secretary of State “(SEAL) “THE STATE OF COLORADO

“By STEVE MCNICHOLS, Governor "Dated : "Attest: GEORGE J. BAKER

"Secretary of State “(SEAL) "THE STATE OF FLORIDA

“By FARRIS BRYANT, Governor “Dated : 5–28–62 “Attest: TOM ADAMS

“Secretary of State “(SEAL) (THE STATE OF ILLINOIS

"By OTTO KERNER, Governor "Dated : 12-12-61 “Attest: CHARLES F. CARPENTIER

"Secretary of State “(SEAL)

“THE STATE OF INDIANA

“By MATTHEW E. WELSH, Governor “Dated : "Attest: CHARLES O. HENDRICKS

“Secretary of State “ (SEAL)

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