Page:United States Statutes at Large Volume 80 Part 1.djvu/413

 80 STAT. ]

PUBLIC LAW 89.553-SEPT. 2, 1966

377

the local organization as provided in section 4(b) and the amount of the grant approved; " (1)) the maximum amount of any grant to be accorded the organization. Said grant shall not exceed the sum of the following: (1) the costs of investigations, surveys, and engineering and other services necessary to the preparation of proposals and plans for the project allocable to fish and wildlife enhancement or public recreation; (2) one-half the costs of acquiring lands or interests therein for a reservoir or other area to be operated for fish and wildlife enhancement or public recreation purposes; (3) one-half the costs of basic public outdoor recreation facilities or facilities serving fish and wildlife enhancement purposes exclusively; (4) one-half the costs of construction of joint use facilities properly allocable to fish and wildlife enhancement or public recreation; and (5^ that portion of the estimated cost of constructing the project which, if it were constructed as a Federal reclamation project, would be properly allocable to functions, other than recreation and fish and wildlife enhancement, which are nonreimbursable under general provisions of law applicable to such projects; "(c) a plan of repayment by the organization of (1) the sums lent to p rRepayment ovisions. it m not more than fifty years from the date when the principal benefits of the project first become available; (2) interest, as determined by the Secretary of the Treasury, as of the beginning of the fiscal year in which the contract is executed, on the basis of the computed average interest rate payable by the Treasury upon its outstanding marketable public obligations, which are neither due nor callable for redemption for fifteen years from date of issue, and by adjusting such average rate to the nearest one-eighth of 1 per centum, on that portion of the loan which is attributable to furnishing irrigation benefits in each particular year to land held in private ownership by any one owner m excess oi one hundred and sixty irrigable acres; and (3) in the case of any project involving an allocation to domestic, industrial, or municipal water supply, or commercial power, interest on the unamortized balance of an appropriate portion of the loan at a rate as determined in (2) above;"; (5) I n section 8, by striking out "Act of August 14, 1946 (60 Stat. 43 USC 422h. 16 1080)" and inserting in lieu thereof "Fish and Wildlife Coordination 666c. u s e 6 6 1 Act (48 Stat. 401), as amended (16 U.S.C. 661 et seq.)"; 72 Stat. 5 63. (6) I n section 10, by striking out "$100,000,000" and inserting in 43 Stat. 422j. lieu thereof "$200,000,000". SEC. 2. Nothing contained in this Act shall be applicable to or affect in any way the terms on which any loan or grant has been made prior to the effective date of this Act. Approved September 2, 1966.

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