[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5468 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 5468

  To direct the Secretary of the Interior to allow for prepayment of 
  repayment obligations under Repayment Contracts between the United 
         States and the Weber Basin Water Conservancy District.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 14, 2016

Mr. Bishop of Utah introduced the following bill; which was referred to 
                   the Committee on Natural Resources

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                                 A BILL


 
  To direct the Secretary of the Interior to allow for prepayment of 
  repayment obligations under Repayment Contracts between the United 
         States and the Weber Basin Water Conservancy District.

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

SECTION 1. PREPAYMENT OF CERTAIN REPAYMENT OBLIGATIONS UNDER CONTRACTS 
              BETWEEN THE UNITED STATES AND THE WEBER BASIN WATER 
              CONSERVANCY DISTRICT.

    The Secretary of the Interior shall allow for prepayment of 
repayment obligations under Repayment Contract No. 14-06-400-33 between 
the United States and the Weber Basin Water Conservancy District, dated 
December 12, 1952, and supplemented and amended on June 30, 1961, on 
April 15, 1966, on September 20, 1968, and on May 9, 1985, including 
future amendments and all related applicable contracts thereto, 
providing for repayment of Weber Basin Project construction costs 
allocated to irrigation and municipal and industrial purposes for which 
repayment is provided pursuant to such contracts under terms and 
conditions similar to those used in implementing the prepayment 
provisions in section 210 of the Central Utah Project Completion Act 
(Public Law 102-575), as amended, for prepayment of Central Utah 
Project, Bonneville Unit repayment obligations. The prepayment--
            (1) shall result in the United States recovering the net 
        present value of all repayment streams that would have been 
        payable to the United States if this Act was not in effect;
            (2) may be provided in several installments;
            (3) may not be adjusted on the basis of the type of 
        prepayment financing used by the District; and
            (4) shall be made such that total repayment is made not 
        later than September 30, 2026.
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