1058
SEV ENTIETH C ONGRESS . Suss. II. CH. 42. 1928 . (c) Moneys in the fund advanced under subdivision (b) shall be available only for expenditures for construction and the payment of interest, during construction, upon the amounts so advanced . No expenditures out of the fund shall be made for operation and main- tenance except from appropriations therefor . (d) The Secretary of the Treasury shall charge the fund as of June 30 in each year with such amount as may be necessary for the payment of interest on advances made under subdivision (b) at the rate of 4 per centum per annum accrued during the year upon the amounts s o advanced and remaining un paid, except that if the fu nd is insufficient to meet the payment of interest the Secretary of the Treasury may, in his discretion, defer any part of such payment, and the amount so deferred shall bear interest at the rate of 4 per centum per annum until paid . Amount in excess of
(e) The Secretary of the Interior shall certify to the Secretary construction, etc ., re- quirements, to be cer- of the Treasury, at the close of each fiscal year, the amount of money tif ied as repay ment and covered into the in the fund in excess of the amount necessary for construction, oper- Treasury . ation, and maintenance, and payment of interest . Upon receipt of each such certificate the Secretary of the Treasury is authorized and directed to charge the fund with the amount so certified as repayment of the advances made under subdivision (b ), which amount shall be covered into the Treasury to the credit of miscellaneous receipts . Suc. 3 . There is hereby authorized to be appropriated from time to time, out of any money in the Treasury not otherwise appropriated, such sums of money as may be necessary to carry out the purposes of this Act, not exceeding in the aggregate $165,000,000 . Suc. 4 (a) . This Act shall not take effect and no authority shall be exercised hereunder and no work shall be begun and no moneys expended on or in connection with the works or structures provided for in this Act, and no water rights shall be claimed or initiated hereunder, a nd no steps s hall be taken by the United States or by others to initiate or perfect any claims to the use of water pertinent to such works or structures unless and until (1) the States of Ari- zona, California, Colorado, Nevada, New Mexico, Utah, and Wyo- ming shall h ave ratified the Colorado River compact, mentioned in section 13 hereof, and the President by public proclamation shall have so declared, or (2) if said States fail to ratify the said compact within six months from the date of the passage of this Act then, until six of said States, including the State of California, shall ratify said compact and shall consent to waive the provisions of the first para- graph of Art icle XI of sa id compact, w hich makes the same binding and obligatory only when approved by each of the seven States signa- tory thereto , and shall h ave approved said compact w ithout condi- tions, save that of such six-State app roval, and the President by public proclamation shall have so declared, and, further, until the State of California, by act of its legislature, shall agree irrevocably and uncondit ionally with the United St ates and for t he benefit of the States of Arizona, Colorado, Nevada, New Mexico, Utah, and Wyoming, as an express covenant and in consideration of the pas- sage of this Act, that the aggregate annual consumptive use (diver- sions less returns to the river) of water of and from the Colorado River for use in the State of California, including all uses under contracts made under the provisions of this Act and all water neces- sary for the supply of any rights which may now exist, shall not exceed four million four hundred thous and acre-feet of the waters apportioned to the lower basin States by paragraph (a) of Article III of the Color ado River com pact, plus no t more than on e-half of any excess or su rplus waters unapportioned by said compa ct, such uses always to be subject to the terms of said compact . Advances available for construction and interest only . Operation, etc . Interest to be charged on advances each year . Rate . Su ms not to exceed $165,000,000, authorized to be expende d . Act not effective until proclamation made of ratification of Colorado Ri ver com- pact by the seven desig- nated States . Post.p.1064 . Or by six States, in- clud ing California, waiving ratification by eac h of the seven Sta tes . Irr evo cab le agree- me nt by Ca lif or nia required as to appor- tionment for its use of waters to the lower basin States .
�
