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U.S. Code as of:
01/19/04
Section 620d. Upper Colorado River Basin Fund
(a) Authorization and availability
There is authorized a separate fund in the Treasury of the United
States to be known as the Upper Colorado River Basin Fund
(hereinafter referred to as the Basin Fund), which shall remain
available until expended, as hereafter provided, for carrying out
provisions of this chapter other than section 620g of this title.
(b) Crediting of appropriations
All appropriations made for the purpose of carrying out the
provisions of this chapter, other than section 620g of this title
shall be credited to the Basin Fund as advances from the general
fund of the Treasury.
(c) Crediting and availability of revenues
All revenues collected in connection with the operation of the
Colorado River storage project and participating projects shall be
credited to the Basin Fund, and shall be available, without further
appropriation, for (1) defraying the costs of operation,
maintenance, and replacements of, and emergency expenditures for,
all facilities of the Colorado River storage project and
participating projects, within such separate limitations as may be
included in annual appropriation acts: Provided, That with respect
to each participating project, such costs shall be paid from
revenues received from each such project; (2) payment as required
by subsection (d) of this section; and (3) payment as required by
subsection (e) of this section. Revenues credited to the Basin Fund
shall not be available for appropriation for construction of the
units and participating projects authorized by or pursuant to this
chapter.
(d) Payments of revenues in excess of operating needs to Treasury
Revenues in the Basin Fund in excess of operating needs shall be
paid annually to the general fund of the Treasury to return -
(1) the costs of each unit, participating project, or any
separable feature thereof which are allocated to power pursuant
to section 620e of this title, within a period not exceeding
fifty years from the date of completion of such unit,
participating project, or separable feature thereof;
(2) the costs of each unit, participating project, or any
separable feature thereof which are allocated to municipal water
supply pursuant to section 620e of this title, within a period
not exceeding fifty years from the date of completion of such
unit, participating project, or separable feature thereof;
(3) interest on the unamortized balance of the investment
(including interest during construction) in the power and
municipal water supply features of each unit, participating
project, or any separable feature thereof, at a rate determined
by the Secretary of the Treasury as provided in subsection (f) of
this section, and interest due shall be a first charge;
(4) the costs of each storage unit which are allocated to
irrigation pursuant to section 620e of this title within a period
not exceeding fifty years; and
(5) the costs of each salinity control unit or separable
feature thereof, the costs of measures to replace incidental fish
and wildlife values foregone, and the costs of the on-farm
measures payable from the Upper Colorado River Basin Fund in
accordance with sections 1595(a)(2), 1595(a)(3), and 1595(c) of
this title.
(e) Apportionment of excess revenues among States
Revenues in the Basin Fund in excess of the amounts needed to
meet the requirements of clause (1) of subsection (c) of this
section, and to return to the general fund of the Treasury the
costs set out in subsection (d) of this section, shall be
apportioned among the States of the Upper Division in the following
percentages: Colorado, 46 per centum; Utah, 21.5 per centum;
Wyoming, 15.5 per centum; and New Mexico, 17 per centum: Provided,
That prior to the application of such percentages, all revenues
remaining in the Basin Fund from each participating project (or
part thereof), herein or hereafter authorized, after payments,
where applicable, with respect to such projects, to the general
fund of the Treasury under subparagraphs (1), (2), and (3) of
subsection (d) of this section shall be apportioned to the State in
which such participating project, or part thereof, is located.
Revenues so apportioned to each State shall be used only for the
repayment of construction costs of participating projects or parts
of such projects in the State to which such revenues are
apportioned and shall not be used for such purpose in any other
State without the consent, as expressed through its legally
constituted authority, of the State to which such revenues are
apportioned. Subject to such requirement, there shall be paid
annually into the general fund of the Treasury from the revenues
apportioned to each State (1) the costs of each participating
project herein authorized (except Paonia) or any separable feature
thereof, which are allocated to irrigation pursuant to section 620e
of this title, within a period not exceeding fifty years, in
addition to any development period authorized by law, from the date
of completion of such participating project or separable feature
thereof, or, in the case of Indian lands, payment in accordance
with section 620c of this title; (2) costs of the Paonia project,
which are beyond the ability of the water users to repay, within a
period prescribed in the Act of June 25, 1947 (61 Stat. 181); and
(3) costs in connection with the irrigation features of the Eden
project as specified in the Act of June 28, 1949 (63 Stat. 277).
(f) Determination of interest rate
The interest rate applicable to each unit of the storage project
and each participating project for purposes of computing interest
during construction and interest on the unpaid balance shall be
determined by the Secretary of the Treasury, as of the beginning of
the fiscal year in which construction is initiated, on the basis of
the computed average interest rate payable by the Treasury upon its
outstanding marketable public obligations, which are neither due
nor callable for redemption for fifteen years from the date of
issue.
(g) Budget to be submitted to Congress
Business-type budgets shall be submitted to the Congress annually
for all operations financed by the Basin Fund.
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