Page:United States Statutes at Large Volume 73.djvu/679

 73

STAT.]

PUBLIC LAW 86-357-SEPT. 22, 1959

641

politan Police force or to the surviving spouse of such officer or member. Appropriations for the operations of the Metropolitan Police Department are made available for this purpose. Annuities authorized by this section shall be computed on the basis of compensated service rendered after July 11, 1947. "SEC. 4. The person who is the Director of the Metropolitan Police force band on the date of approval of this Act shall, upon his retirement from such position, be retired under the provisions of this Act and not under the Civil Service Retirement Act, and the moneys 5*^icf2'25''i^ 22^6^7. to his credit in the Civil Service Retirement and Disability Fund created under the authority of the Civil Service Retirement Act of May 29, 1930, as amended, on the date of such retirement, together with such moneys in such fund as may have been contributed by the District of Columbia toward the cost of his annuity under such Act, shall be transferred to the credit of the general revenues of the District of Columbia. "SEC. 5. Section 3 of said Act approved July 11, 1947, as amended, JJ |?*bod^e 4is renumbered '4'." i84. Approved September 22, 1959.

Public Law 86-357 AN ACT

To authorize the Secretary of the Interior to construct, rehabilitate, operate, and maintain the lower Rio Grande rehabilitation project, Texas, La Feria division.

September 22, 1959

[H. R. 4279]

Be it enacted by the Senate and House of Representatives of the Rio G r a n e reUnited States of America in Congress assembled, That the Secretary habliitation d projof the Interior, acting pursuant to the Federal reclamation laws (Act CCCT'^X of June 17, 1902, 32 Stat. 388 and Acts amendatory thereof or supple- so4^ ^ ^ "° *' mentary thereto, including the last sentence of Section 1 of the Act of October 7, 1949 (63 Stat. 724), but subject to exceptions herein contained) is authorized to undertake the rehabilitation and betterment of the works of the La Feria Water Control and Improvement District, Cameron County numbered 3, Texas, and to operate and maintain the same. Such undertaking which shall be known as the La Feria division of the lower Rio Grande rehabilitation project, shall not be commenced until a repayment contract has been entered into by said district under the Federal reclamation laws, subject to exceptions herein contained, which contract shall provide for payment of the capital cost of the La Feria division over a basic period of not more than thirty-five years and shall, in addition, in lieu of the excess-land provisions of the Federal reclamation laws, require the payment of interest on that pro rata share of the capital cost, which is attributable to furnishing benefits in each particular year to land held in private ownership by any one owner in excess of one hundred and sixty irrigable acres, said interest to be at a rate determined by the Secretary of the Treasury by estimating the average annual yield to maturity, on the basis of daily closing market bid quotations or prices during the month of May preceding the fiscal year in which the repayment contract is entered into, on all outstanding marketable obligations of the United States having a maturity date of fifteen or more years from the first day of such month of May, and by adjusting such estimated average annual yield to the nearest one-eighth of 1 per centum.

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