§ 617a. — "Colorado River Dam Fund".
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 43USC617a]
TITLE 43--PUBLIC LANDS
CHAPTER 12A--BOULDER CANYON PROJECT
SUBCHAPTER I--BOULDER CANYON PROJECT ACT
Sec. 617a. ``Colorado River Dam Fund''
(a) Creation of fund; purpose; receipts and expenditures under control
of Secretary of the Interior
There is established a special fund, to be known as the ``Colorado
River Dam fund'' (hereinafter referred to as the ``fund''), and to be
available, as hereafter provided for, only for carrying out the
provisions of this subchapter. All revenues received in carrying out the
provisions of this subchapter shall be paid into and expenditures shall
be made out of the fund, under the direction of the Secretary of the
Interior.
(b) Advancements to fund by Secretary of the Treasury; allocation;
repayment; interest
The Secretary of the Treasury is authorized to advance to the fund,
from time to time and within the appropriations therefor, such amounts
as the Secretary of the Interior deems necessary for carrying out the
provisions of this subchapter..\1\ Of this amount the sum of $25,000,000
shall be allocated to flood control and shall be repaid to the United
States out of 62\1/2\ per centum of revenues, if any, in excess of the
amount necessary to meet periodical payments during the period of
amortization, as provided in section 617c of this title. If said sum of
$25,000,000 is not repaid in full during the period of amortization,
then 62\1/2\ per centum of all net revenues shall be applied to payment
of the remainder. Interest at the rate of 4 per centum per annum
accruing during the year upon the amounts so advanced and remaining
unpaid shall be paid annually out of the fund, except as herein
otherwise provided.
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\1\ So in original.
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(c) Limitation on use made of advancements
Moneys in the fund advanced under subsection (b) of this section
shall be available only for expenditures for construction and the
payment of interest, during construction, upon the amounts so advanced.
No expenditures out of the fund shall be made for operation and
maintenance except from appropriations therefor.
(d) Unpaid interest on advancements; charge on fund; rate of interest
The Secretary of the Treasury shall charge the fund as of June 30 in
each year with such amount as may be necessary for the payment of
interest on advances made under subsection (b) of this section at the
rate of 4 per centum per annum accrued during the year upon the amounts
so advanced and remaining unpaid, except that if the fund is
insufficient to meet the payment of interest the Secretary of the
Treasury may, in his discretion, defer any part of such payment, and the
amount so deferred shall bear interest at the rate of 4 per centum per
annum until paid.
(e) Money in fund in excess of amount needed; certification of fact;
disposition
The Secretary of the Interior shall certify to the Secretary of the
Treasury, at the close of each fiscal year, the amount of money in the
fund in excess of the amount necessary for construction, operation, and
maintenance, and payment of interest. Upon receipt of each such
certificate the Secretary of the Treasury is authorized and directed to
charge the fund with the amount so certified as repayment of the
advances made under subsection (b) of this section, which amount shall
be covered into the Treasury to the credit of miscellaneous receipts.
(Dec. 21, 1928, ch. 42, Sec. 2, 45 Stat. 1057; Pub. L. 98-381, title I,
Sec. 103(a)(1), Aug. 17, 1984, 98 Stat. 1334.)
Amendments
1984--Subsec. (b). Pub. L. 98-381 substituted a period for ``,
except that the aggregate amount of such advances shall not exceed the
sum of $165,000,000'' at end of first sentence.
Section Referred to in Other Sections
This section is referred to in sections 617c, 617n, 617u, 618, 618a,
618f of this title.
