Page:United States Statutes at Large Volume 100 Part 5.djvu/615

 PUBLIC LAW 99-662—NOV. 17, 1986

100 STAT. 4089

by contract, to contribute 50 percent of the cost for such study during the period of such study. Not more than one-half of such nonFederal contribution may be made by the provision of services, materials, supplies, or other in-kind services necessary to prepare the feasibility report. (2) This subsection shall not apply to any water resources study primarily designed for the purposes of navigational improvements in the nature of dams, locks, and channels on the Nation's system of inland waterways. (b) PLANNING AND ENGINEERING.—The Secretary shall not initiate Contracts, any planning or engineering authorized by this Act for a water resources project until appropriate non-Federal interests agree, by contract, to contribute 50 percent of the cost of the planning and engineering during the period of the planning and engineering. (c) DESIGN.—Costs of design of a water resources project shall be shared in the same percentage as the purposes of such project. SEC. 106. RATE OF INTEREST.

Whenever a non-Federal interest is required or elects to repay an amount under this Act over a period of time, the amount to be repaid shall include interest at a rate determined by the Secretary of the Treasury, taking into consideration the average market yields on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the reimbursement period, during the month preceding the fiscal year in which costs for the construction of the project are first incurred (or in the case of recalculation the fiscal year in which the recalculation is made), plus a premium of one-eighth of one percentage point for transaction costs; except that such rates for hydroelectric power shall be in accordance with existing law. SEC. 107. LIMITATION ON APPLICABILITY OF CERTAIN PROVISIONS IN REPORTS.

33 USC 2216.

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33 USC 2217.

If any provision in any report designated by this Act recommends that a State contribute in cash 5 percent of the construction costs allocated to non-vendible project purposes and 10 percent of the construction costs allocated to vendible project purposes, such provision shall not apply to the project recommended in such report. SEC. 108. GENERAL APPLICABILITY OF COST SHARING.

33 USC 2218.

Unless otherwise specified, the cost sharing provisions of this title shall apply to all projects in this Act. The Federal share of any cost of a project authorized by this Act for which cost a Federal share is not established in this title, shall be the share of such cost otherwise provided by law. SEC. 109. DEFINITIONS.

33 USC 2219.

For purposes of this title, terms shall have the meanings given by section 214 of this Act. TITLE II—HARBOR DEVELOPMENT SEC. 201. DEEP-DRAFT HARBOR PROJECTS.

(a) AUTHORIZATION OF CONSTRUCTION —The following projects for harbors are authorized to be prosecuted by the Secretary substantially in accordance with the plans and subject to the conditions

Harbor Development and Navigation Improvement Act of 1986.

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