[Congressional Record Volume 140, Number 68 (Thursday, May 26, 1994)]
[Extensions of Remarks]
[Page E]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: May 26, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
 THE INTRODUCTION OF H.R. --, THE STAGECOACH RESERVOIR PROJECT ACT OF 
                                  1993

                                 ______


                           HON. SCOTT McINNIS

                              of colorado

                    in the house of representatives

                         Thursday, May 26, 1994

  Mr. McINNIS. Mr. Speaker, I am today introducing the Stagecoach 
Reservoir Project Act to authorize the early payout to the Federal 
Government of the Stagecoach Reservoir Project.
  It is not every day that we bring to the floor a bill which not only 
does not ask for funds or assistance but is actually intended to 
facilitate an early repayment to the Federal Government. All the 
parties stand to benefit: the Federal Government receives its money 
sooner and at today's values, the District can refinance the project 
privately, and the Bureau of Reclamation can close this account.
  As you may be aware, this legislation is only made necessary--as a 
formality--in order to amend the original contract terms, that is, 
enacting legislation: the Small Reclamation Projects Act of 1956, 32 
U.S.C. 422a et seq.
  There is no opposition to the measure by any interested party. The 
Bureau of Reclamation, the Federal office to receive the early payout, 
as well as the House Natural Resources Committee, and the Senate Energy 
and Natural Resources Committee, all have no opposition to this 
legislation.
  Senators Hank Brown and Ben Nighthorse Campbell have introduced the 
companion measure in the Senate and the bill mirrors two provisions in 
the omnibus water bill of the 102d Congress.
  Therefore, I bring this bill forward today and hope to see its prompt 
passage.

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