Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Canadian River Project Prepayment
Act''.

SEC. 2. DEFINITIONS.

For the purposes of this Act:
(1) The term ''Authority'' means the Canadian River Municipal
Water Authority, a conservation and reclamation district of the
State of Texas.
(2) The term ''Canadian River Project Authorization Act'' means
the Act entitled ''An Act to authorize the construction, operation,
and maintenance by the Secretary of the Interior of the Canadian
River reclamation project, Texas'', approved December 29, 1950 (ch.
1183; 64 Stat. 1124).
(3) The term ''Project'' means all of the right, title and
interest in and to all land and improvements comprising the
pipeline and related facilities of the Canadian River Project
authorized by the Canadian River Project Authorization Act.
(4) The term ''Secretary'' means the Secretary of the Interior.

SEC. 3. PREPAYMENT AND CONVEYANCE OF PROJECT.

(a) In General.--(1) In consideration of the Authority accepting
the obligation of the Federal Government for the Project and subject to
the payment by the Authority of the applicable amount under paragraph
(2) within the 360-day period beginning on the date of the enactment of
this Act, the Secretary shall convey the Project to the Authority, as
provided in section 2(c)(3) of the Canadian River Project Authorization
Act (64 Stat. 1124).
(2) For purposes of paragraph (1), the applicable amount shall be--
(A) $34,806,731, if payment is made by the Authority within the
270-day period beginning on the date of the enactment of this Act;
or
(B) the amount specified in subparagraph (A) adjusted to
include interest on that amount since the date of the enactment of
this Act at the appropriate Treasury bill rate for an equivalent
term, if payment is made by the Authority after the period referred
to in subparagraph (A).
(3) If payment under paragraph (1) is not made by the Authority
within the period specified in paragraph (1), this Act shall have no
force or effect.
(b) Financing.--Nothing in this Act shall be construed to affect
the right of the Authority to use a particular type of financing.

SEC. 4. RELATIONSHIP TO EXISTING OPERATIONS.

(a) In General.--Nothing in this Act shall be construed as
significantly expanding or otherwise changing the use or operation of
the Project from its current use and operation.
(b) Future Alterations.--If the Authority alters the operations or
uses of the Project it shall comply with all applicable laws or
regulations governing such alteration at that time.
(c) Recreation.--The Secretary of the Interior, acting through the
National Park Service, shall continue to operate the Lake Meredith
National Recreation Area at Lake Meredith.
(d) Flood Control.--The Secretary of the Army, acting through the
Corps of Engineers, shall continue to prescribe regulations for the use
of storage allocated to flood control at Lake Meredith as prescribed in
the Letter of Understanding entered into between the Corps, the Bureau
of Reclamation, and the Authority in March and May 1980.
(e) Sanford Dam Property.--The Authority shall have the right to
occupy and use without payment of lease or rental charges or license or
use fees the property retained by the Bureau of Reclamation at Sanford
Dam and all buildings constructed by the United States thereon for use
as the Authority's headquarters and maintenance facility. Buildings
constructed by the Authority on such property, or past and future
additions to Government constructed buildings, shall be allowed to
remain on the property. The Authority shall operate and maintain such
property and facilities without cost to the United States.

SEC. 5. RELATIONSHIP TO CERTAIN CONTRACT OBLIGATIONS.

(a) Payment Obligations Extinguished.--Provision of consideration
by the Authority in accordance with section 3(b) shall extinguish all
payment obligations under contract numbered 14-06-500-485 between the
Authority and the Secretary.
(b) Operation and Maintenance Costs.--After completion of the
conveyance provided for in section 3, the Authority shall have full
responsibility for the cost of operation and maintenance of Sanford
Dam, and shall continue to have full responsibility for operation and
maintenance of the Project pipeline and related facilities.
(c) In General.--Rights and obligations under the existing contract
No. 14-06-500-485 between the Authority and the United States, other
than provisions regarding repayment of construction charge obligation
by the Authority and provisions relating to the Project aqueduct, shall
remain in full force and effect for the remaining term of the contract.

SEC. 6. RELATIONSHIP TO OTHER LAWS.

Upon conveyance of the Project under this Act, the Reclamation Act
of 1902 (82 Stat. 388) and all Acts amendatory thereof or supplemental
thereto shall not apply to the Project.

SEC. 7. LIABILITY.

Except as otherwise provided by law, effective on the date of
conveyance of the Project under this Act, the United States shall not
be liable under any law for damages of any kind arising out of any act,
omission, or occurrence relating to the conveyed property.

Speaker of the House of Representatives.

Vice President of the United States and
President of the Senate.
Output:
Canadian River Project Prepayment Act - Directs the Secretary of the Interior, in consideration of the Canadian River Municipal Water Authority accepting the obligation of the Federal Government for the Canadian River Project, Texas (a water reclamation project), and subject to a specified payment by the Authority, to convey the Project to the Authority as provided under the Canadian River Project Authorization Act.
Directs the Secretary, acting through the National Park Service, to continue to operate the Lake Meredith National Recreation Area. Directs the Secretary of the Army, acting through the Corps of Engineers, to continue to prescribe regulations for the use of storage allocated to flood control at Lake Meredith as prescribed in a certain Letter of Understanding.
Grants the Authority the right to occupy and use without payment of lease or rental charges or license or user fees the property retained by the Bureau of Reclamation at Sanford Dam for use as a headquarters and maintenance facility.
Provides party rights and obligations under current contract obligations and in relationship to other laws.