Source: https://collections.lib.utah.edu/details?id=1138590
Timestamp: 2019-04-24 02:41:13+00:00

Document:
208 obligation may be spread in annual installments over not to exceed 40 years exclusive of the development period.382 Still longer repayment periods have since been authorized for individual projects by special statute.833 Other Aspects of Repayment.-In the case of contracts under the 1939 Act to furnish water for municipal water supply or miscellaneous purposes, costs allocated thereto may be recov- ered through imposition of a capital repayment obligation pay- able over a period of not exceeding 40 years, with interest not exceeding Sy2% per annum "if the Secretary determines an interest charge to be proper."334 Or such contracts may be made for periods not to exceed 40 years at rates calculated to produce revenues at least sufficient to cover "an appropriate share of the annual operation and maintenance cost and an appropriate share of such fixed charges as the Secretary deems proper," payments to be made annually in advance of delivery of water.835 The Act also prescribes a formula for the sale of electric power or lease of power privileges. Contracts may not exceed 40 years and shall be at such rates as in the Secre- tary's judgment will produce power revenues at least sufficient m id. m See Lewiston Orchards Project, not exceeding 50 years (Act of July 31, 1946, 60 Stat. 717); Paonia Project, not exceeding 68 years (Act of June 25, 1947, § 1, 61 Stat. 181) ; Mancos Project, extended to 60 years (Act of June 25, 1947, 61 Stat. 176) ; Gila Project, not exceeding 60 years (Act of July 30, 1947, § 5, 61 Stat. 628, 629, 43 U. S. O. 613d (Supp. Ill)) ; Deer Creek and Aqueduct Divisions, Provo River Project, 40 years to begin after indeter- minate postponement (Act of March 29, 1948, 62 Stat. 92) ; Kennewick Division, Yakima Project, not exceeding 66 years (Act of June 12, 1948, § 3, 62 Stat. 382) ; Preston Bench Project, not exceeding 74 years (Act of June 15, 1948, 62 Stat. 442; Eden Project, not exceeding 60 years (Act of June 28, 1949, § 1, 63 Stat. 277) ; Fort Sumner Project, within use- ful life of the project (Act of July 29, 1949, 63 Stat. 483) ; Weber Basin Project, not exceeding 60 years (Act of August 29, 1949, § 2, 63 Stat. 677, -) ; Buffalo Rapids Project, not exceeding 60 years (Act of October 10,1949, § 1, 63 Stat. 725) ; Vermejo Project, consistent with maximum repayment ability (Act of September 27, 1950, 64 Stat. 1072) ; Northside Pumping Division, Minidoka Project, not exceeding 50 years (Act of September 30, 1950,64 Stat. 1083). ^ Act of August 4, 1939, § 9(c), 53 Stat. 1187, 1194, 43 U. S. C. 485h(c). 885 Id.

References: § 1
 § 5
 § 3
 § 1
 § 2
 § 1
 § 9