16 U.S.C. § 835c–2: Authorization of…

Summary

Money from the Treasury can be used as needed to carry out the Act and must be repaid when required; income from the Act goes into the U.S. Treasury as miscellaneous receipts. When the Secretary draws appropriated funds for spending, equal amounts are recorded in a special Columbia Basin Land Development Account. Revenues put into the Treasury are credited to that account. After those credits equal the debits plus 3% interest per year from the debit dates, the Secretary will make extra credits to offset construction-cost obligations of districts that sign repayment contracts.

Title 16, §835c–2

Conservation, Source: USLM XML via OLRC

There are authorized to be appropriated, out of any money in the Treasury not otherwise appropriated, such moneys as may be necessary to carry out the provisions of this Act, to be reimbursable to the extent required by this Act. All revenues received in carrying out the provisions of section 4 hereof [16 U.S.C. 835c] shall be covered into the General Treasury as miscellaneous receipts. Amounts equal to appropriated funds requisitioned by the Secretary and made available for disbursement on the books of the Treasurer of the United States shall be debited in a special account in the Treasury, to be known as the Columbia Basin Land Development Account. Amounts equal to revenues covered into the General Treasury as miscellaneous receipts shall be credited in said special account. After such credits equal the amount of the debits with interest thereon at the rate of 3 per centum per annum from the respective dates of the debits, additional credits in said special account shall be made by the Secretary, in the manner determined by him, the basis of corresponding credits to the construction cost obligations of the district or districts entering into contracts for the repayment thereof.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This Act, referred to in text, is act May 27, 1937, ch. 269, as amended generally by act Mar. 10, 1943, ch. 14, 57 Stat. 14, known as The Columbia Basin Project Act, which enacted this section, section 835, 835a to 835c–1, and 835c–3 to 835c–5 of this title, and provisions set out as a note under section 835 of this title. For complete classification of this Act to the Code, see

Short Title

note set out under section 835 of this title and Tables.

Amendments

1962—Pub. L. 87–728 substituted “for the repayment thereof” for “under section 835a of this title”.

§835c–2 Authorization of Appropriations; Establishment of Columbia Basin Land Development Account