[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4631 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4631

 To direct the Secretary of the Interior to enter into negotiations on 
                    the Nueces River Project, Texas.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 22, 1994

  Mr. Ortiz introduced the following bill; which was referred to the 
                     Committee on Natural Resources

_______________________________________________________________________

                                 A BILL


 
 To direct the Secretary of the Interior to enter into negotiations on 
                    the Nueces River Project, Texas.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. AUTHORIZATION.

    (a) As soon as practicable after the date of enactment of this Act, 
the Secretary of the Interior (hereinafter referred to as the 
``Secretary'') shall enter into and complete negotiations with the City 
of Corpus Christi, Texas, on loan contract numbered 6-07-01-X0675 
pursuant to the Reclamation Development Act of 1974 (Public Law 93-493) 
regarding the Nueces River Reclamation Project, Texas (hereinafter 
referred to as the ``project'').
    (b) The Secretary shall discount the remaining Federal debt 
obligation based on actual water yield to the City of Corpus Christi 
from the project which is determined to be 88,394 acre feet per year, 
or 57.11 percent of the original estimated incremental yield expected 
from the construction of the project.
    (c) If requested by the City of Corpus Christi, the Secretary shall 
accept pre-payment on the remaining loan contract obligation in the 
amount of $21,031,077.
    (d) Such prepayment under subsection (c) and discount based on 
actual yield under subsection (b) shall result in a total remaining 
cost of the project of $21,031,077, the payment of which shall satisfy 
local sponsor cost obligations of the project.

SEC. 2. TRANSFER OF TITLE.

    The Secretary may transfer title for the project to local sponsors.

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