An Act to improve the usefulness of national bank branches in foreign countries
PL 87-588 (S.1771), enacted 08/15/1962

388 
PUBLIC LAW 87-588-AUG. 15, 1962 
[76 STAT. 
SEX3. 5. If the Government of Canada enters into an agreement with 
the Government of the United States providing for arbitration or adju-
dication of the claims filed under this Act, the Commission shall 
discontinue its investigation and determination of the claims and 
transfer or otherwise make available to the Secretary of State all 
records and documents relating to the claims or, on the request of the 
Secretary of State, return to claimants documents filed in support of 
their claims. 
Approved August 15, 1962. 
August 15. 1962 
[S. 1771] 
Public Law 87-588 
AN ACT 
To improve the usefulness of national bank branches in foreign countries. 
Federal Reserve 
System. 
National bank 
branches in for> 
eign countries. 
39 Stat. 755. 
12 u s e 601-632. 
48 Stat. 184. 
12 u s e 632. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That section 25 of 
the Federal Reserve Act, as amended, is amended by adding the 
following new paragraph at the end thereof: 
"Regulations issued by the Board of Governors of the Federal 
Reserve System under this section, in addition to regulating powers 
which a foreign branch may exercise under other provisions of law^, 
may authorize such a foreign branch, subject to such conditions and 
requirements as such regulations may prescribe, to exercise such fur-
ther powers as may be usual in connection with the transaction of the 
business of banking in the places where such foreign branch shall 
transact business. 
Such regulations shall not authorize a foreign 
branch to engage in the general business of producing, distributing, 
buying or selling goods, wares, or merchandise; nor, except to such 
limited extent as the Board may deem to be necessary with respect to 
securities issued by any 'foreign state' as defined in section 25(b) of 
this Act, shall such regulations authorize a foreign branch to engage or 
participate, directly or indirectly, in the business of underwriting, 
selling, or distributing securities." 
Approved August 15, 1962. 
August 16, 1962 
[S. 405] 
Public Law 87-589 
AN ACT 
To authorize the Secretary of the Interior to construct, operate, and maintain 
the Mann Creek Federal reclamation project, Idaho, and for other purposes. 
Mann Creek Fed-
eral reclamation 
project, Idaho. 
43 u s e 371 note. 
Construction 
cests, repayment 
period. 
72 Stat. 542, 
543. 
43 u s e 485h. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That for the pur-
poses of providing irrigation water for approximately fifty-one hun-
dred acres, conserving and developing fish and wildlife, and providing 
recreational benefits, the Secretary of* the Interior, acting pursuant 
to the Federal reclamation laws (Act of June 17, 1902, 32 Stat. 388, 
and Acts amendatory thereof or supplementary thereto), is authorized 
to construct, operate, and maintain the facilities of the Mann Creek 
Federal reclamation project, Idaho, 
The principal works of the 
project shall consist of a dam and reservoir, diversion facilities from 
the reservoir, and drainage facilities. 
SEC, 2, The base period provided in subsection (d), section 9, of the 
Reclamation Project Act of 1939, as amended, for repayment of the 
construction costs properly chargeable to any block of lands and 
assigned to be repaid by irrigators shall be forty years, exclusive of 
76 STAT.] 
PUBLIC LAW 87-590-AUG. 16, 1962 
389 
any development period, from the time water is first delivered to that 
block. 
Costs allocated to irrigation in excess of the amount deter-
mined by the Secretary to be within the ability of the irrigators to 
repay within the repayment period or periods herein specified, shall 
be returned to the reclamation fund within such period or periods 
from revenues derived by the Secretary of the Interior from the dis-
position of power marketed through the Federal power system in 
southern Idaho. 
SEC. 3. (a) The Secretary of the Interior is authorized, in connec- 
Recreation fa-
tion with the Mann Creek project, to construct minimum basic public ainV^^' °°"'^*'^*^ 
recreation facilities, and to acquire such lands as may be necessary 
for that purpose, substantially in accordance with the plan in the 
report of the Secretary of the Interior, but such facilities (other than 
those necessary to protect the project works and the visiting public) 
shall not be constructed until an agreement has been executed by the 
State of Idaho, an agency or political subdivision thereof, or an appro-
priate local agency or organization to assume the management and 
operation of the facilities. 
The cost of constructing such facilities 
shall be nonreimbursable and nonreturnable under the reclamation 
laws. 
(b) The Secretary may make such reasonable provision in the works 
authorized by this Act as he finds to be required for the conservation 
and development of fish and wildlife in accordance with the provi-
sions of the Fish and Wildlife Coordination Act (48 Stat. 401, as 
amended; 16 U.S.C. 661, and the following), and the portion of the 
construction costs allocated to these purposes, together with an appro-
priate share of the operation, maintenance, and replacement costs 
therefor, shall be nonreimbursable and nonreturnable. 
Before the 
works are transferred to an irrigation water users' organization for 
care, operation, and maintenance, the organization shall have agreed 
to operate them in such fashion, satisfactory to the Secretary, as to 
achieve the benefits to fish and wildlife on which the allocation of 
costs therefor is predicated, and to return the works to the United 
States for care, operation, and maintenance in the event of failure 
to comply with his requirements to achieve such benefits. 
SEC. 4. There is hereby authorized to be appropriated for construe- 
Appropriation, 
tion of the works herein authorized the sum of $3,490,000 (April 1961 
prices). 
There are also authorized to be appropriated such sums 
as may be required for the operation and maintenance of said works. 
Approved August 16, 1962. 
Fish and wild-
life, conservation. 
60 Stat. 
72 Stat. 
1080; 
563. 
Public Law 87-590 
AN ACT 
To authorize the construction, operation, and maintenance by the Secretary of 
the Interior of the Fryingpan-Arkansas project, Colorado. 
August 16, 1962 
[H, R. 2206] 
Be it enacted hy the Senate and Tlou^e of Representatives 
of the 
United States of America in Congress asserabled^ That for the pur- 
interior Depart-
poses of supplying w^ater for irrigation, municipal, domestic, and '"^p'ryingpan-
industrial uses, generating and transmitting hydroelectric power and Arkansas project, 
energy, and controlling floods, and for other useful and beneficial pur- 
"construction 
poses incidental thereto, including recreation and the conservation and authorization. 
development of fish and wildlife, the Secretary of the Interior is 
authorized to construct, operate, and maintain the Fryingpan-Arkan-
sas project, Colorado, in substantial accordance with the engineering 
plans therefor set forth in House Document Numbered 187, Eighty-
third Congress, modified as proposed in the September 1959 report of