1996 U.S. Code
Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS
CHAPTER 23 - JUDICIARY OFFICE BUILDING DEVELOPMENT
Sec. 1203 - Lease of building by Architect of the Capitol

Before the development agreement is entered into under section 1202 of this title, the Architect shall enter into with the person selected to construct the building under this chapter an agreement for the lease of such building by the Architect to carry out the objectives of this chapter.

The agreement entered into under this section shall include at a minimum the following terms:

(1) The Architect will lease the building and other improvements for a term not to exceed 30 years from the effective date of such lease agreement.

(2) The rental rate per square foot of occupiable space for all space in the building and other improvements will be in the best interest of the United States and carry out the objectives of this chapter, but in no case may the aggregate rental rate for all space in the building and other improvements produce an amount less than the amount necessary to amortize the cost of development of squares 721 and 722 over the term of the lease.

(3) Authority for the Architect to make space available and to sublease space in the building and other improvements in accordance with section 1205 of this title.

The Architect shall maintain an accounting system for operation and maintenance of the building and other improvements to be constructed under this chapter which will permit accurate projections of the dates and the costs of major repairs, improvements, reconstructions, and replacements of such building and improvements and other capital expenditures on such building and improvements.

Obligation of funds for lease payments under this section may only be made on an annual basis and may only be made from the account established by section 1207 of this title.

(Pub. L. 100–480, §4, Oct. 7, 1988, 102 Stat. 2331.)

This section is referred to in sections 1202, 1205, 1207 of this title.