§ 501. — Disposition of profits of project taken over by water users.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 43USC501]
TITLE 43--PUBLIC LANDS
CHAPTER 12--RECLAMATION AND IRRIGATION OF LANDS BY FEDERAL GOVERNMENT
SUBCHAPTER XI--MAINTENANCE AND OPERATION OF WORKS GENERALLY
Sec. 501. Disposition of profits of project taken over by water
users
Whenever the water users take over the care, operation, and
maintenance of a project, or a division of a project, the total
accumulated net profits, as determined by the Secretary, derived from
the operation of project power plants, leasing of project grazing and
farm lands, and the sale or use of town sites shall be credited to the
construction charge of the project, or a division thereof, and
thereafter the net profits from such sources may be used by the water
users to be credited annually, first, on account of project construction
charge, second, on account of project operation and maintenance charge,
and third, as the water users may direct. No distribution to individual
water users shall be made out of any such profits before all obligations
to the Government shall have been fully paid.
(Dec. 5, 1924, ch. 4, Sec. 4, subsec. I, 43 Stat. 703.)
Definitions
The definitions in section 371 of this title apply to this section.
Section Referred to in Other Sections
This section is referred to in sections 371, 417, 493, 500, 572 of
this title.
