II

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.

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; REFERENCES.

4 (a) SHORT TITLE.—This Act may be cited as the

5 ‘‘Mountain Park Project Act of 1994’’.

6 (b) REFERENCES.—Whenever in this Act an amend7 ment or repeal is expressed in terms of an amendment

8 to, or repeal of, a section or other provision, the reference

9 shall be considered to be made to a section or other provi10 sion of the Act entitled ‘‘An Act to authorize the Secretary
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1 of the Interior to construct, operate, and maintain the

2 Mountain Park reclamation project, Oklahoma, and for

3 other purposes’’ (Public Law 90–503, 82 Stat. 853 et

4 seq.).

5 SEC. 2. MODIFICATION OF MOUNTAIN PARK PROJECT.

6 (a) IN GENERAL.—The first section (Public Law 90–

7 503, 82 Stat. 853) is amended by striking out ‘‘and con8 trolling floods.’’ and inserting in lieu thereof ‘‘controlling

9 floods, and environmental quality activities. As used in

10 this Act, the term ‘environmental quality activity’ means

11 any activity that primarily benefits the quality of natural

12 environmental resources.’’.

13 (b) REALLOCATION OF PROJECT COSTS.—The Act

14 (Public Law 90–503, 82 Stat. 853 et seq.) is amended

15 by adding at the end the following new section:

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

17 date of enactment of the Mountain Park Project Act of

18 1994, the Secretary of the Interior (referred to in this sec19 tion as the ‘Secretary’) shall—

20 ‘‘(A) conduct appropriate investigations to de21 termine environmental quality activities that could

22 be carried out for the Mountain Park project; and

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

24 under subparagraph (A), make an appropriate

25 reallocation of the costs of the project under sections
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1 2 and 3 (referred to in this section as ‘project costs’)

2 to accommodate the environmental quality activities

3 that the Secretary authorizes pursuant to this sub4 section.

5 ‘‘(2) In conducting investigations under this sub6 section, the Secretary shall examine the benefits to natural

7 environmental resources achievable from an environmental

8 quality activity that requires reallocating of water, using

9 facilities, or land of the Mountain Park project, including

10 any of the following activities:

11 ‘‘(A) Developing in-stream flows.

12 ‘‘(B) Developing wetland habitat.

13 ‘‘(C) Any other environmental quality activity

14 that the Secretary determines to be appropriate to

15 benefit the overall quality of the environment.

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

17 subsection (a)(2), the Secretary shall carry out the follow18 ing:

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

20 of project costs in conformance with subsection

21 (a)(1)(B).

22 ‘‘(B) Negotiations with the Mountain Park

23 Master Conservancy District (referred to in this sec24 tion as the ‘District’) to amend the contract exe25 cuted by the District pursuant to this Act to adjust
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1 the obligation of the District to repay project costs,

2 as described in section 2, to reflect the reallocation

3 of nonreimbursable project costs.

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

5 associated with an environmental quality activity specified

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

7 nonreimbursable project costs.

8 ‘‘(c)(1) Notwithstanding any other provision of this

9 Act, the Secretary is authorized to accept prepayment of

10 the repayment obligation of the District for the reimburs11 able construction costs of the project allocated to munici12 pal and industrial water supply for the city of Altus, Okla13 homa, the city of Frederick, Oklahoma, or the city of Sny14 der, Oklahoma (or any combination thereof), and, upon

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

16 United States shall be reduced by the amount of such

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

18 the Secretary.

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

20 (c)(1) shall realize to the United States an amount cal21 culated by discounting the remaining repayment obligation

22 by the interest rate determined in accordance with sub23 section (d).

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

25 rate in accordance with the guidelines set forth in Circular
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1 A–129 issued by the office of Management and Budget

2 concerning loan sales and prepayment of loans. In deter3 mining the interest rate, the Secretary shall equate an ap4 propriate amount of prepayment with the price of the Dis5 trict’s obligation if it were to be sold on the open market

6 to a third party.

7 ‘‘(2) If the District uses tax-exempt financing to fi8 nance a prepayment under subsection (c)(1), then the in9 terest rate by which the Secretary discounts the remaining

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

11 by an amount that compensates the United States for the

12 direct or indirect loss of future tax revenues.

13 ‘‘(e) Notwithstanding any payment made by the Dis14 trict pursuant to this section or pursuant to any contract

15 with the Secretary, title to the project facilities shall re16 main with the United States.

17 ‘‘(f) Section 3101 of the Reclamation Projects Au18 thorization and Adjustment Act of 1992 (Public Law 102–

19 575; 106 Stat. 4698) is repealed.

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