Page:United States Statutes at Large Volume 108 Part 5.djvu/1047

 PUBLIC LAW 103-434—OCT. 31, 1994 108 STAT. 4537 "SEC. 7. (a)(1) Not later than 180 days after the date of enact- 43 USC ment of the Mountain Park Project Act of 1994, the Secretary ^i^««-^ of the Interior (referred to in this section as the 'Secretary') shall— "(A) conduct appropriate investigations to determine environmental quality activities that could be carried out for the Mountain Park project; and "(B) on the basis of the determination made under subparagraph (A), make an appropriate reallocation of the costs of the project under sections 2 and 3 (referred to in this section as 'project costs') to accommodate the environmental quality activities that the Secretary authorizes pursuant to this subsection. "(2) In conducting investigations under this subsection, the Secretary shall examine the benefits to natural environmental resources achievable from an environmental quality activity that requires reallocating water or using facilities or land of the Mountain Park project, including any of the following activities: "(A) Developing in-stream flows. ci< "(B) Developing wetland habitat. "(C) Any other environmental quality activity that the Secretary determines to be appropriate to benefit the overall quality of the environment. "(b)(1) Upon completion of the investigations under subsection (a)(2), the Secretary shall carry out the following: "(A) The preparation of a proposed reallocation of project costs in conformance with subsection (a)(1)(B). "(B) Negotiations with the Mountain Park Master Conser- to amend the contract executed by the District pursuant to this Act to adjust the obligation of the District to repay project costs, as described in section 2, to reflect the reallocation of nonreimbursable project costs. "(2) For the purposes of paragraph (1), project costs associated with an environmentgJ quality activity specified by the Secretary pursuant to subsection (a)(2) shall be nonreimbursable project costs. "(c)(1) Notwithstanding any other provision of this Act, the Secretary is authorized to accept prepayment of the repayment obligation of the District for the reimbursable construction costs of the project allocated to municipal and industrial water supply for the city of Altus, Oklahoma, the city of Frederick, Oklahoma, or the city of Snyder, Oklahoma (or any combination thereof), and, upon receipt of such prepayment, the District's obligation to the United States shall be reduced by the amount of such costs, and any security held therefor, shall be released by the Secretary. "(2) Any prepa3nment made pursuant to subsection (c)(1) shall realize to the United States an amount calculated by discounting the remaining repayment obligation by the interest rate determined in accordance with subsection (d). "(d)(1) The Secretary of the Treasury shall determine the interest rate in accordance with the guidelines set forth in Circular A-129 issued by the Office of Management and Budget and the Department of Treasury Financial Manual. In determining the interest rate, the Secretary shall consider the price of the District's obligation if it were to be sold on the open market to a third party.
 * vancy District (referred to in this section as the 'District')

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