Page:United States Statutes at Large Volume 101 Part 2.djvu/1062

 101 STAT. 1330-268

PUBLIC LAW 100-203—DEC. 22, 1987

Subtitle D—Reclamation 43 USC 421b note.

Contracts.

SEC. 5301. SALE OF BUREAU OF RECLAMATION LOANS.

(a) SALE.—The Secretary of the Interior (hereinafter in this section referred to as the "Secretary"), under such terms as the Secretary shall prescribe, shall sell or otherwise dispose of loan» made pursuant to the Distribution System Loans Act (43 U.S.C. 421a421d), the Small Reclamation Projects Act (43 U.S.C. 422a-4221), and the Rehabilitation and Betterment Act (43 U.S.C. 504-505) in such amounts as to realize net proceeds to the Federal Government of not less than $130,000,000 in the fiscal year ending September 30, 1988. In the conduct of such sales, the Secretary shall take such actions as he deems appropriate to accommodate, effectuate, and otherwise protect the rights and obligations of the United States and the borrowers under the contracts executed to provide for repayment of such loans. (b) SAVINGS PROVISIONS.—Nothing in this section, including the prepayment or other disposition of any loan or loans, shall— ^. (1) except to the extent that prepayment may have been , ^ authorized heretofore, relieve the borrower from the application ^^ of the provisions of Federal Reclamation law (Act of June 17, J 1902, and Acts amendatory thereof or supplementary thereto, K' including the Reclamation Reform Act of 1982), including acre'.. age limitations, to the extent such provisions would apply r^ absent such prepayment, or (2) authorize the transfer of title to any federally owned f; facilities funded by the loans specified in subsection (a) of this section without a specific Act of Congress. (c) FEES AND EXPENSES OF PROGRAM.—Proceeds from the conduct of the program authorized by this section shall be first used to pay the fees and expenses of such program and the net proceeds shall be deposited in the Treasury of the United States as miscellaneous receipts. (d) TERMINATION.—The authority granted by this section to sell or otherwise dispose of loans shall terminate on December 31, 1988. SEC. 5302. RECLAMATION REFORM ACT AMENDMENTS.

43 USC 390ww.

•mj Reports.

Contracts.

(a) AUDIT.—Section 224 of the Reclamation Reform Act of 1982 (Public Law 97-293) is amended by adding the following new subsections after subsection (f): "(g) In addition to any other audit or compliance activities which may otherwise be undertaken, the Secretary of the Interior, or his designee, shall conduct a thorough audit of the compliance with the reclamation law of the United States, specifically including this Act, by legal entities and individuals subject to such law. At a minimum, the Secretary shall complete audits of those legal entities and individuals whose landholdings or operations exceed 960 acres within 3 years. The Secretary shall submit an annual written report to the Senate Committee on Energy and Natural Resources and the House Committee on Interior and Insular Affairs. Such report shall summarize the legal entities and individuals audited, the results of such audits, and the actions taken by the Secretary to correct any instances of noncompliance with the reclamation law. "(h) The provisions of section 205(c) are and have been applicable to all recordable contracts executed prior to October 12, 1982, and any decision, rule, or regulation promulgated by the Department of

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