Page:United States Statutes at Large Volume 112 Part 4.djvu/746

 112 STAT. 2681-717 PUBLIC LAW 105-277—OCT. 21, 1998 (D) OBJECTIVES OF PLAN.— The Trust plan shall be designed to maximize the effectiveness of Montana Fish and Wildlife Conservation Trust expenditures considering— (i) public needs and requests; (ii) availability of property; (iii) alternative sources of funding; and (iv) availability of matching funds. (4) PUBLIC NOTICE AND COMMENT. —Before requesting any disbursements under paragraph (2), the Joint State-Federal Agency Board shall— (A) notify members of the public, including local governments; and (B) provide opportunity for public comment. (d) USE.— (1) PRINCIPAL.— The principal of the Trust shall be inviolate. (2) EARNINGS. —Earnings on amounts in the Trust shall be used to carry out subsection (b) and to administer the Trust and Citizen Advisory Board. (3) LOCAL PURPOSES. —Not more than 50 percent of the income from the Trust in any year shall be used outside the watershed of the Missouri River in the State, from Holter Dam upstream to the confluence of the Jefferson River, Gallatin River, and Madison River. (e) MANAGEMENT. —Land and interests in land acquired under this section shall be managed for the purpose described in subsection (b). SEC. 1008. CANYON FERRY-BROADWATER COUNTY TRUST. (a) ESTABLISHMENT.— The Commissioners shall establish a nonprofit charitable permanent perpetual public trust to be known as the "Canyon Ferry-Broadwater County Trust" (referred to in this section as the "Trust"). (b) PRIORITY OF TRUST ESTABLISHMENT. — (1) CONDITION TO SALE.— No sale of property under section 4 shall be made until at least $3,000,000, or a lesser amount as offset by in-kind contributions made before full funding of the trust, is deposited as the initial corpus of the Trust. (2) IN-KIND CONTRIBUTIONS. — (A) IN GENERAL.— In-kind contributions— (i) shall be approved in advance by the Commissioners; (ii) shall be made in Broadwater County; (iii) shall be related to the improvement of access to the portions of the Reservoir lying within Broadwater County or to the creation and improvement of new and existing recreational areas within Broadwater County; and (iv) shall not include any contribution made by Broadwater County. (B) APPROVAL.—Approval by the Commissioners of an in-kind contribution under subparagraph (A) shall include approval of the value, nature, and type of the contribution and of the entity that makes the contribution. (3) INTEREST.—Notwithstanding any other provision of this Act, all interest earned on the principal of the Trust shall

�