Page:United States Statutes at Large Volume 53 Part 2.djvu/714

 PUBLIC LAWS-CH. 418-AUG. 4, 1939 rovisos. project contract unit, shall be determined by the Secretary: Provided, fEst'matee in lieu of That in any year, if the Secretary deems it necessary, an estimate of the annual returns of that year, in lieu of a final determination thereof, shall be considered with the annual returns of the preceding Determination by twelve years: Providedfurther, That in the event records of annual established annual re- turns. returns of the lands involved are not available for twelve preceding years, the Secretary, until such records for twelve preceding years have been established, in his discretion may consider established annual returns of other and similar lands in other and similar project contract units for the purpose of determining each year the normal Assistance of local returns. The estimates and final determinations of annual returns teres and the determinations of normal returns provided for in this Act shall be made by the Secretary with such assistance from the water users and organization involved as he requests, and said estimates and determinations made by him shall be conclusive. Variable repayment (d) For each project contract unit where a repayment contract is provientered into pursuant to this section, each year the percent of the normal returns for said year by which the annual returns of said Determination year exceed or are less than said normal returns shall be determined by the Secretary. For each unit or major fraction of a unit of said percentage of said increase or decrease there shall be an increase or decrease, respectively, of 2 per centum in the amount or amounts of the installment or installments for said year under the organization's obligation or obligations as determined under subsections (b) and (e) of this section. Said latter amount or amounts as thus increased or decreased shall be the payment or payments of construction charges due and payable for said year, except that in no event shall the amount of the said payment or payments due and payable for any year be less than 15 per centum of the amount or amounts of the installment or installments for said year under the organization's obligation or obligations as determined under subsections (b) and (e) of this section. luding in future in- (e) In each contract entered into pursuant to this section, there stalments any rt o shall be such provisions as the Secretary deems equitable, necessary, installment not due, etc. and proper to provide that any part of the amount of any install- ment of an organization's obligation, as determined under subsection (b) of this section, which, in the year for which said installment is designated under said subsection (b), does not, by reason of the operation of subsection (d) of this section, become due and payable as construction charges for said year, shall be added to an installment or installments of subsequent years for which installments are desig- nated under said subsection (b) or shall be established as an install- ment or installments or parts thereof of years subsequent to the last year for which an installment is designated under said subsection (b), or both; and there shall be similar provisions respecting any such part of the amount of any installment modified or established Prois. under this subsection: Provided,That under this subsection no install- sion orestbisnhmevt ment may be revised to or established in an amount exceeding the in amount exceeding amount of the largest installment as determined under said subsection (b), and there shall be included in the contract such provisions as the Secretary deems proper for offsetting the increases and decreases in annual installments which result from the operation of said sub- section (d). onbaanceof reay- (f) In any contract entered into pursuant to the authority of this ment contract. section, it shall be provided that from and after the date of the last installment of the organization's repayment contract obligation or obligations as determined under subsection (b) of this section, a charge of 3 per centum per annum shall be payable by the organi- zation on any balance or balances of said organization's obligation or 1190 [53 STAT.

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