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Show ability of the water users to repay, within a period prescribed in the Act of June 25, 1947 (61 Stat. 181); and (3) costs in connection with the irrigation features of the Eden project as specified in the Act of June 28, 1949 (63 Stat. 277). (f) The interest rate applicable to each unit of the storage Interest rate. project and each participating project shall be determined by the Secretary of the Treasury as of the time the first advance is made for initiating construction of said unit or project. Such interest rate shall be determined by calculating the average yield to maturity on the basis of daily closing market bid quotations during the month of June next preceding the fiscal year in which said advance is made, on ail interest-bearing marketable public debt obligations of the United States having ia maturity date of fifteen or more years from the first day of said month, and by adjusting such average annual yield to the nearest one-eighth of I per centum. (g) Business-type budgets shall be submitted to the Congress Budget to annually for all operations financed by the Basin Fund. SEC. b. Upon completion of each unit, participating project Cost allocations. or separable feature thereof, the Secretary shall allocate the total costs (excluding any expenditures authorized by section 8 of this Act) of constructing said unit, project or feature to power, irrigation, municipal water supply, flood control, navigation, or any other purposes authorized under reclamation law. Allocations of construction, operation and maintenance costs to authorized nonreimbursable purposes shall be nonreturnable under the provisions of this Act. In the event that the Navajo participating project is Navajos. authorized, the costs allocated to irrigation of Indian-owned tribal or restricted lands within, under, or served by such project, and beyond the capability of such lands to repay, shall be determined, and, in recognition of the fact that assistance to the Navajo Indians is the responsibility of the entire nation, such costs shall be nonreimbursable. On January I of each year the Secretary shall report Report to to the Congress for the previous fiscal year, beginning with the ongress. fiscal year 1957, upon the status of 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 to reflect accurately the Federal 'investment allocated at that time to power, to irrigation, and to other purposes, the progress of return and repayment thereon, and the estimated rate of progress, year by year, in accomplishing full repayment. SEC. 7. The hydroelectric powerplants and transmission lines Power plant authorized by this Act to be constructed, operated, and maintained by ihe Secretary shall be operated in conjunction with other Federal powerplants, present and potential, so as to produce the greatest practicable amount of power and energy that can be sold at firm power and energy rates, but in the exercise of the authority hereby granted he shall not affect or interfere with the operation of the provisions of the Colorado River Compact, the Upper Colorado River Basin Compact, the Boulder Canyon Project Act, the Boulder Canyon Project Adjustment Act and any contract lawfully entered unto under said Compacts and Acts. Subject to the provisions of the Colorado River Compact, neither the impounding nor the use of -water for the generation of power and energy at the plants of the; Colorado River storage project shall preclude or impair the -28- 70 Stat. 109. 70 Stat. 110. 45 Stat. 1057. 43 use 617 note. 54 Stat. 774. 43 use 618o. |