TRANSFER OF OBSOLETE AIRCRAFT CARRIER ORISKANY.

SEC. 1012. TRANSFER OF OBSOLETE AIRCRAFT CARRIER ORISKANY. (a) Authority.—Notwithstanding subsections (a) and (c) of section 7308 of title 10, United States Code, but subject to subsection (b) of 105 STAT. 1458that section, the Secretary of the Navy may transfer the obsolete aircraft carrier Oriskany (CV 34) to the nonprofit organization City of America for cultural and educational purposes. (b) Limitation.—The transfer authorized by subsection (a) may be made only if the Secretary of the Navy determines that the vessel is of no further use to the United States for national security purposes. (c) Restrictions on Transfer.—The transfer authorized by subsection (a) may not be made until— (1) the United States has received from or on behalf of the City of America an amount not less than the estimated scrap value of the vessel (as determined by the Secretary of the Navy) that would otherwise be received by the United States if the vessel were not transferred pursuant to this section; and (2) City of America has agreed in writing that all work necessary to restore the Oriskany will be performed in United States shipyards. (d) Terms and Conditions.—The Secretary of the Navy may require such terms and conditions in connection with the transfer authorized by this section as the Secretary considers appropriate.