AZ vs. CA:14 California Exhibits, Vol. XIV; Nos. 2051-2100

page 20

-20-- tures suitable for the fullest economic development of electrical energy from the water discharged from said reservoir; and to acquire by proceedings in eminent domain, or otherwise, all lands, rights of way, and other property necessary for said purposes. Sec. 2. (a) There is hereby established a special fund, to be known as the ''Colorado River Dam fund" (hereinafter referred to as the "fund"), and to be available, as hereafter provided, only for carrying out the provisions of this Act. All revenues received in carrying out the provisions of this Act shall be paid into and expenditures shall be made out of the fund, under the direction of the Secretary of the Interior. (b) The Secretary of the Treasury is authorized to advance to the fund, from time to time and within the appropriations therefor, such amounts as the Secretary of the Interior deems necessary for carrying out the provisions of this Act, except that the aggregate amount of such advances shall not exceed the sum of $165,000,000. Of this amount the sum of $25,000,000 shall be allocated to flood control and shall be repaid to the United States out of 62y2 per centum of revenues, if any, in excess of the amount necessary to meet periodical payments during the period of amortisation, as provided in section 4 of this Act. If said sum of $25,000,000 is not repaid in full during the period of amortisation, then 62T/2 per centum of all net revenues shall be applied to payment of the remainder. Interest at the rate of 4 per centum per annum accruing during the year upon the amounts so advanced and remaining unpaid shall be paid annually out of the fund, except as herein otherwise provided. (c) Moneys in the fund advanced under subdivision (b) shall be available only for expenditures for construe-