Page:United States Statutes at Large Volume 54 Part 1.djvu/810

 PUBLIC LAWS-CH. 643-JULY 19, 1940 thereafter, until and including the year of operation ending May 31, 1987. The transfer of the said sum of $500,000 for each year of operation shall be made on or before July 31 next following the close pedious transfero of the year of operation for which it is made: Provided, That any incertaincases. such transfer for any year of operation which shall have ended at the time this section 2 (d) shall become effective, shall be made, without interest, from revenues received in the Colorado River Dam Fund, as expeditiously as administration of this Act will permit, and Appropriatioignoftre without readvances from the general funds of the Treasury. Receipts purposes authorized. of the Colorado River Development Fund for the years of operation ending in 1938, 1939, and 1940 (or in the event of reduced receipts during any of said years, due to adjustments under section 3 hereof, then the first receipts of said fund up to $1,500,000), are authorized to be appropriated only for the continuation and extension, under the direction of the Secretary, of studies and investigations by the Bureau of Reclamation for the formulation of a comprehensive plan for the utilization of waters of the Colorado River system for irriga- tion, electrical power, and other purposes, in the States of the upper division and the States of the lower division, including studies of quantity and quality of water and all other relevant factors. The next such receipts up to and including the receipts for the year of operation ending in 1955 are authorized to be appropriated only for the investigation and construction of projects for such utilization in and equitably distributed among the four States of the upper division. Such receipts for the years of operation ending in 1956 to 1987 inclusive, are authorized to be appropriated for the investigation and construction of projects for such utilization in and equitably distrib- uted among the States of the upper division and the States of the Terms defined. lower division. The terms "Colorado River system", "States of the upper division", and "States of the lower division" as so used shall have the respective meanings defined in the Colorado River compact 45 Statl.1O§ 67- mentioned in the Project Act. Such projects shall be only such as 617t. are found by the Secretary to be physically feasible, economically justified, and consistent with such formulation of a comprehensive plan. Nothing in this Act shall be construed so as to prevent the authorization and construction of any such projects prior to the completion of said plan of comprehensive development; nor shall this Act be construed as affecting the right of any State to proceed independently of this Act or its provisions with the investigation or coTractae,lomg construction of any project or projects. Transfers under this section tionsofU. S. 2 (d) shall be deemed contractual obligations of the United States, subject to the provisions of section 3 of this Act. ments and transfers. SEC. 3. If, by reason of any act of God, or of the public enemy, or any major catastrophe, or any other unforeseen and unavoidable cause, the revenues, for any year of operation, after making provi- sion for costs of operation, maintenance, and the amount to be set aside for said year for replacements, should be insufficient to make the payments to the States of Arizona and Nevada and the trans- fers to the Colorado River Development Fund herein provided for, such payments and transfers shall be proportionately reduced, as the Secretary may find to be necessary by reason thereof. charges; adjustment SEC. 4. (a) Upon the taking effect of this Act, pursuant to section ofaccounts. 10 hereof, the charges, or the basis of computation thereof, promul- gated hereunder, shall be applicable as from June 1, 1937, and adjust- ments of accounts by reason thereof, including charges by and against the United States, shall be made so that the United States and all parties that have contracted for energy, or for the privilege of generating energy, at the project, shall be placed in the same posi- tion, as nearly as may be, as determined by the Secretary, that they 776 [54 STAT.

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