123STA T . 13 59PUBLIC LA W 111 – 11 —M A R .3 0, 2009 (3)Al l such c ontra cts e ntere di nto p ursuant to para g raph ( 1 ) shall — (A) re q uire the repa ym ent , either in lump sum or b y accelerated prepayment, o f the remaining amount of construction costs identified in the C entral V alley P ro j ect S chedule of I rrigation Capital R ates by Contractor 20 0 7 Irrigation W ater Rates, dated J anuary 2 5 , 2007, as adjusted to reflect payments not reflected in such schedule, and properly assignable for ultimate return by the con - tractor, no later than January 31, 2011, or if made in appro x imately equal annual installments, no later than January 31, 201 4; such amount to be discounted by 1⁄2 the T reasury Rate . An estimate of the remaining amount of construction costs as of January 31, 2011, as adjusted, shall be pro v ided by the Secretary to each contractor no later than June 30, 2010; ( B ) require that, not w ithstanding subsection (c)(2), construction costs or other capitali z ed costs incurred after the effective date of the contract or not reflected in the schedule referenced in subparagraph (A), and properly assignable to such contractor, shall be repaid in not more than 5 years after notification of the allocation if such amount is a result of a collective annual allocation of capital costs to the contractors exercising contract conversions under this subsection of less than $ 5,000,000. If such amount is $5,000,000 or greater, such cost shall be repaid as provided by applicable Reclamation law, provided that the reference to the amount of $5,000,000 shall not be a precedent in any other context; (C) provide that power revenues will not be available to aid in repayment of construction costs allocated to irriga- tion under the contract; and ( D ) conform to the Settlement and this part and shall continue so long as the contractor pays applicable charges, consistent with subsection (c)(2) and applicable law. (4) All such contracts entered into pursuant to paragraph (2) shall— (A) require the repayment in lump sum of the remaining amount of construction costs identified in the most current version of the Central Valley Project Schedule of M unicipal and Industrial Water Rates, as adjusted to reflect payments not reflected in such schedule, and prop- erly assignable for ultimate return by the contractor, no later than January 31, 2014. An estimate of the remaining amount of construction costs as of January 31, 2014, as adjusted, shall be provided by the Secretary to each con- tractor no later than June 30, 2013; (B) require that, notwithstanding subsection (c)(2), construction costs or other capitalized costs incurred after the effective date of the contract or not reflected in the schedule referenced in subparagraph (A), and properly assignable to such contractor, shall be repaid in not more than 5 years after notification of the allocation if such amount is a result of a collective annual allocation of capital costs to the contractors exercising contract conversions under this subsection of less than $5,000,000. If such amount is $5,000,000 or greater, such cost shall be repaid Coste st ima te . Cost estimate.
