I

103D CONGRESS

2D SESSION H. R. 4784

To modify the Mountain Park Project in Oklahoma, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

JULY 19, 1994

Mr. MCCURDY introduced the following bill; which was referred to the

Committee on Natural Resources

A BILL

To modify the Mountain Park Project in Oklahoma, and

for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘Mountain Park Project

5 Act of 1994’’.

6 SEC. 2. MODIFICATION OF MOUNTAIN PARK PROJECT.

7 (a) IN GENERAL.—The first section of the Act enti8 tled ‘‘An Act to authorize the Secretary of the Interior

9 to construct, operate, and maintain the Mountain Park

10 reclamation project, Oklahoma, and for other purposes’’

11 (Public Law 90–503; 82 Stat. 853) is amended by striking
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1 out ‘‘and controlling floods.’’ and inserting in lieu thereof

2 ‘‘controlling floods, and environmental quality activities.

3 As used in this Act, the term ‘environmental quality activ4 ity’ means any activity that primarily benefits the quality

5 of natural environmental resources.’’.

6 (b) REALLOCATION OF PROJECT COSTS.—Such Act

7 is further amended by adding at the end the following new

8 section:

9 ‘‘SEC. 7. (a)(1) Not later than 180 days after the

10 date of enactment of the Mountain Park Project Act of

11 1994, the Secretary of the Interior (referred to in this sec12 tion as the ‘Secretary’) shall—

13 ‘‘(A) conduct appropriate investigations to de14 termine environmental quality activities that could

15 be carried out for the Mountain Park project; and

16 ‘‘(B) on the basis of the determination made

17 under subparagraph (A), make an appropriate

18 reallocation of the costs of the project under sections

19 2 and 3 (referred to in this section as ‘project costs’)

20 to accommodate the environmental quality activities

21 that the Secretary authorizes pursuant to this sub22 section.

23 ‘‘(2) In conducting investigations under this sub24 section, the Secretary shall examine the benefits to natural

25 environmental resources achievable from an environmental
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1 quality activity that requires reallocating water or using

2 facilities or land of the Mountain Park project, including

3 any of the following activities:

4 ‘‘(A) Developing in-stream flows.

5 ‘‘(B) Developing wetland habitat.

6 ‘‘(C) Any other environmental quality activity

7 that the Secretary determines to be appropriate to

8 benefit the overall quality of the environment.

9 ‘‘(b)(1) Upon completion of the investigations under

10 subsection (a)(2), the Secretary shall carry out the follow11 ing:

12 ‘‘(A) The preparation of a proposed reallocation

13 of project costs in conformance with subsection

14 (a)(1)(B).

15 ‘‘(B) Negotiations with the Mountain Park

16 Master Conservancy District (referred to in this sec17 tion as the ‘District’) to amend the contract exe18 cuted by the District pursuant to this Act to adjust

19 the obligation of the District to repay project costs,

20 as described in section 2, to reflect the reallocation

21 of nonreimbursable project costs.

22 ‘‘(2) For the purposes of paragraph (1), project costs

23 associated with an environmental quality activity specified

24 by the Secretary pursuant to subsection (a)(2) shall be

25 nonreimbursable project costs.
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1 ‘‘(c)(1) Notwithstanding any other provision of this

2 Act, the Secretary is authorized to accept prepayment of

3 the repayment obligation of the District for the reimburs4 able construction costs of the project allocated to munici5 pal and industrial water supply for the city of Altus, Okla6 homa, the city of Frederick, Oklahoma, or the city of Sny7 der, Oklahoma (or any combination thereof), and, upon

8 receipt of such prepayment, the District’s obligation to the

9 United States shall be reduced by the amount of such

10 costs, and any security held therefor, shall be released by

11 the Secretary.

12 ‘‘(2) Any prepayment made pursuant to subsection

13 (c)(1) shall realize to the United States an amount cal14 culated by discounting the remaining repayment obligation

15 by the interest rate determined in accordance with sub16 section (d).

17 ‘‘(d)(1) The Secretary shall determine the interest

18 rate in accordance with the guidelines set forth in Circular

19 A–129 issued by the Office of Management and Budget

20 concerning loan sales and prepayment of loans. In deter21 mining the interest rate, the Secretary shall equate an ap22 propriate amount of prepayment with the price of the Dis23 trict’s obligation if it were to be sold on the open market

24 to a third party.
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1 ‘‘(2) If the District uses tax-exempt financing to fi2 nance a prepayment under subsection (c)(1), then the in3 terest rate by which the Secretary discounts the remaining

4 payments due on the District’s obligation shall be adjusted

5 by an amount that compensates the United States for the

6 direct or indirect loss of future tax revenues.

7 ‘‘(e) Notwithstanding any payment made by the Dis8 trict pursuant to this section or pursuant to any contract

9 with the Secretary, title to the project facilities shall re10 main with the United States.’’.

11 (c) REPEAL.—Section 3101 of the Reclamation

12 Projects Authorization and Adjustment Act of 1992 (Pub13 lic Law 102–575; 106 Stat. 4698) is repealed.

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