OCR Text |
Show SEC. 6. There is hereby established in the Treasury a special fund, designated the "Upper Colorado River Development Fund," to which shall be transferred at the end of each fiscal year, beginning with the initial year of commercial power production by the Colorado River Storage Project 7!/2 per centum of the net power revenues for that year after such net revenues exceed five million dollars annually, but not to exceed one million dollars in any one fiscal year. The moneys so transferred shall be available upon appropriation (such appropriation to remain available until expended) for expenditure by the Secretary, without prejudice to the use by him for the same purposes of other appropriated moneys, for studies and investigations relating to the development, conservation, and utilization of the waters of the Upper Colorado River Basin, all expenditures from said fund to be nonreimbursable and nonreturn-able under the reclamation laws. Funds appropriated for carrying out the authorizations contained in section 1 of this Act shall also be available for carrying out the studies and investigations set forth in this section. SEC. 7. There is hereby established in the Treasury, from the receipts of the Colorado River Storage Project, a continuing fund of $1,000,000 to the credit of and subject to expenditure by the Secretary to defray emergency expenses and to insure continuous operation of the project. SEC. 8. The Secretary shall report to the Congress as of the close of each fiscal year beginning with the fiscal year 1955 upon the status of the Upper Colorado River Basin Account and on the revenues from and the cost of constructing, operating, and maintaining the Colorado River Storage Project and the participating projects. The Secretary's report shall be prepared in such manner as accurately to reflect the Federal investment allocated to power, to irrigation, and to other purposes and the progress of return and repayment thereon, and the estimated rate of progress, year by year, in accomplishing full repayment. SEC. 9. The Secretary is authorized to plan, construct, operate, and maintain public recreational facilities on lands withdrawn or acquired for the development of the Colorado River Storage Project or of the participating projects; to conserve the scenery, the natural, historic, and archeologic objects, and the wildlife on said lands, and to provide for public use and enjoyment of the same and of the water areas created by these projects by such means as are consistent with the primary purposes of said projects; and to mitigate losses of and improve conditions for the propagation of fish and wildlife in connection with the development of the Colorado River -86- |