OCR Text |
Show 12 1 of the Interior may, in his discretion, enter into contracts 9 of lease of a unit or units of said plant, with right to gen- 3 erate electrical energy, within a State which has approved said 4 Colorado River compact, on condition that if two or more 6 such contracts he entered into, provision shall he made for 6 operation of the plant under a joint agreement upon terms 7 approved by the Secretary of the Interior for the purpose 8 of providing for the most economical utilization of the 9 available energy in case of the execution of such contracts 10 the provisions of section 5 of this Act relating to revenue, 11 term, renewals, determination of conflicting applications, and 12 joint use of transmission lines under contracts for the sale 13 of electrical energy, shall apply. 14 As a condition to the lease of the said plant or any unit 15 or units thereof, and as a condition to the sale of electrical 16 energy therefrom, every lessee and every purchaser, if th* 17 United States operates the plant, shall agree that the prop 18 erty of such lessee or purchaser, used and useful in cob- 19 nection therewith, shall be valued, whether by the agencies 20 of the States or of the United States, and whether for 21 regulation of rates or for taxation or for State or municipal 22 acquisition and use, at its fair value, not to exceed the net 23 investment of the said lessee or purchaser and said net m- 24 vestment shall be ascertained in accordance with the pro* |
Source |
Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |