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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 2253 Introduced in Senate (IS)]

103d CONGRESS
  2d Session
                                S. 2253

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

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                June 30 (legislative day, June 7), 1994

Mr. Nickles (for himself and Mr. Boren) introduced the following bill; 
   which was read twice and referred to the Committee on Energy and 
                           Natural Resources

_______________________________________________________________________

                                 A BILL

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

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

SECTION 1. SHORT TITLE; REFERENCES.

    (a) Short Title.--This Act may be cited as the ``Mountain Park 
Project Act of 1994''.
    (b) References.--Whenever in this Act an amendment or repeal is 
expressed in terms of an amendment to, or repeal of, a section or other 
provision, the reference shall be considered to be made to a section or 
other provision of the Act entitled ``An Act to authorize the Secretary 
of the Interior to construct, operate, and maintain the Mountain Park 
reclamation project, Oklahoma, and for other purposes'' (Public Law 90-
503, 82 Stat. 853 et seq.).

SEC. 2. MODIFICATION OF MOUNTAIN PARK PROJECT.

    (a) In General.--The first section (Public Law 90-503, 82 Stat. 
853) is amended by striking out ``and controlling floods.'' and 
inserting in lieu thereof ``controlling floods, and environmental 
quality activities. As used in this Act, the term `environmental 
quality activity' means any activity that primarily benefits the 
quality of natural environmental resources.''.
    (b) Reallocation of Project Costs.--The Act (Public Law 90-503, 82 
Stat. 853 et seq.) is amended by adding at the end the following new 
section:
    ``Sec. 7. (a)(1) Not later than 180 days after the date of 
enactment of the Mountain Park Project Act of 1994, the Secretary of 
the Interior (referred to in this section as the `Secretary') shall--
            ``(A) conduct appropriate investigations to determine 
        environmental quality activities that could be carried out for 
        the Mountain Park project; and
            ``(B) on the basis of the determination made under 
        subparagraph (A), make an appropriate reallocation of the costs 
        of the project under sections 2 and 3 (referred to in this 
        section as `project costs') to accommodate the environmental 
        quality activities that the Secretary authorizes pursuant to 
        this subsection.
    ``(2) In conducting investigations under this subsection, the 
Secretary shall examine the benefits to natural environmental resources 
achievable from an environmental quality activity that requires 
reallocating of water, using facilities, or land of the Mountain Park 
project, including any of the following activities:
            ``(A) Developing in-stream flows.
            ``(B) Developing wetland habitat.
            ``(C) Any other environmental quality activity that the 
        Secretary determines to be appropriate to benefit the overall 
        quality of the environment.
    ``(b)(1) Upon completion of the investigations under subsection 
(a)(2), the Secretary shall carry out the following:
            ``(A) The preparation of proposed a reallocation of project 
        costs in conformance with subsection (a)(1)(B).
            ``(B) Negotiations with the Mountain Park Master 
        Conservancy District (referred to in this section as the 
        `District') to amend the contract executed by the District 
        pursuant to this Act to adjust the obligation of the District 
        to repay project costs, as described in section 2, to reflect 
        the reallocation of nonreimbursable project costs.
    ``(2) For the purposes of paragraph (1), project costs associated 
with an environmental quality activity specified by the Secretary 
pursuant to subsection (a)(2) shall be nonreimbursable project costs.
    ``(c)(1) Notwithstanding any other provision of this Act, the 
Secretary is authorized to accept prepayment of the repayment 
obligation of the District for the reimbursable construction costs of 
the project allocated to municipal and industrial water supply for the 
city of Altus, Oklahoma, the city of Frederick, Oklahoma, or the city 
of Snyder, Oklahoma (or any combination thereof), and, upon receipt of 
such prepayment, the District's obligation to the United States shall 
be reduced by the amount of such costs, and any security held therefor, 
shall be released by the Secretary.
    ``(2) Any prepayment made pursuant to subsection (c)(1) shall 
realize to the United States an amount calculated by discounting the 
remaining repayment obligation by the interest rate determined in 
accordance with subsection (d).
    ``(d)(1) The Secretary shall determine the interest rate in 
accordance with the guidelines set forth in Circular A-129 issued by 
the office of Management and Budget concerning loan sales and 
prepayment of loans. In determining the interest rate, the Secretary 
shall equate an appropriate amount of prepayment with the price of the 
District's obligation if it were to be sold on the open market to a 
third party.
    ``(2) If the District uses tax-exempt financing to finance a 
prepayment under subsection (c)(1), then the interest rate by which the 
Secretary discounts the remaining payments due on the District's 
obligation shall be adjusted by an amount that compensates the United 
States for the direct or indirect loss of future tax revenues.
    ``(e) Notwithstanding any payment made by the District pursuant to 
this section or pursuant to any contract with the Secretary, title to 
the project facilities shall remain with the United States.
    ``(f) Section 3101 of the Reclamation Projects Authorization and 
Adjustment Act of 1992 (Public Law 102-575; 106 Stat. 4698) is 
repealed.
                                 <all>
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