43 USC 390ee - Pricing

U.S Code last checked for updates: Nov 22, 2024

§ 390ee.

Pricing

(a)

Delivery of irrigation water at full cost

Notwithstanding any other provision of law, any contract with a district entered into by the Secretary as specified in section 390cc of this title, shall provide for the delivery of irrigation water at full cost as defined in section 390bb(3) of this title to:

(1)

a landholding in excess of nine hundred and sixty acres of class I lands or the equivalent thereof for a qualified recipient,1

 So in original. The comma probably should be a semicolon.

(2)

a landholding in excess of three hundred and twenty acres of class I land or the equivalent thereof for a limited recipient receiving irrigation water on or before October 1, 1981; and

(3)

the entire landholding of a limited recipient not receiving irrigation water on or before October 1, 1981: Provided, That the interest rate used in computing full cost under this paragraph shall be determined by the Secretary of the Treasury on the basis of the arithmetic average of—

(A)

the computed average interest rate payable by the Treasury upon its outstanding marketable public obligations which are neither due nor callable for redemption for fifteen years from the date of issuance; and

(B)

the weighted average of market yields on all interest-bearing, marketable issues sold by the Treasury

during the fiscal year preceding the fiscal year in which the expenditures are made, or October 12, 1982, for expenditures made before October 12, 1982.

(b)

Delivery of irrigation water at prior terms and conditions

(c)

Delivery of irrigation water to lands under recordable contracts

(Pub. L. 97–293, title II, § 205, Oct. 12, 1982, 96 Stat. 1265.)

cite as: 43 USC 390ee