| OCR Text |
Show MERRIMACK RIVER COMPACT 207 those specified in Article IV, the commission shall make a separate estimate of the amount of taxes which would be lost to and of economic losses and damages which would occur in political subdivisions of the signatory state wherein such dam and reservoir would be located, wholly or in part, by reason of acquisition and ownership by the United States of lands, rights or other property for the construction and operation of such dam and reservoir in excess of the estimated amount of taxes which would be lost and the economic losses and damages which would occur if the dam were constructed and operated for flood control only, and the commission shall decide the extent to which, in its opinion, the signatory states would be justified in making reimbursement for loss of taxes and for economic losses and damages in addition to reimbursement for such dam and reservoir if construct- ed and used for flood control only. Such estimate and decision shall thereafter be reviewed by the commission at five-year intervals until such time as such dam and reservoir shall be so constructed, recon- structed, altered or used, or plans for such construction, reconstruc- tion, alteration or use are abandoned. The commission shall notify the governor, the members of the United States Senate and the mem- bers of the United States House of Representatives from each signa- tory state as to the commission's decision and as to any change in such decision. Within thirty days after acquisition by the United States of the site of any flood control dam the commission shall proceed to make a final determination of economic losses and damages occasioned by such dam and reservoir. The commission shall not include in such determination either speculative losses and damages or losses and damages for which the United States is liable. The commission shall compute the share the Commonwealth of Massachusetts shall pay to the State of New Hampshire by multiply- ing the sum of such losses and damages, as previously determined, by the percentage of flood control benefits which the Commonwealth of Massachusetts receives of the flood control benefits resulting from the dam and reservoir. The commission shall send a notice to the treasurer of the Com- monwealth of Massachusetts setting forth in detail the sum, if any, the Commonwealth of Massachusetts is to pay to the State of New Hampshire in reimbursement for economic losses and damages and shall also send such notice to the treasurer of the State of New Hampshire. The Commonwealth of Massachusetts on receipt of such formal notification by the commission shall pay its share of such economic losses or damages to the State of New Hampshire. Full payment by the Commonwealth of Massachusetts of the sum specified in such formal notification from the commission as to the amount of economic losses and damages for which the Commonwealth of Massachusetts is to make reimbursement shall be a complete and final discharge of all liability by the Commonwealth of Massachusetts to the State of New Hampshire for economic losses and damages for each flood control dam and reservoir within the said state designated in such formal noti- fication. The State of New Hampshire shall have full responsibility for distributing or expending all such sums received and no agency, political subdivision, private person, partnership, firm, association or |
