The Secretary of the Interior is authorized and directed to, and he shall, promulgate charges, or the basis of computation thereof, for electrical energy generated at Hoover Dam beginning June 1, 1937, computed to be sufficient, together with other net revenues from the project, to accomplish the following purposes:
(a) To meet the cost of operation and maintenance, and to provide for replacements, of the project beginning June 1, 1937;
(b) To repay to the Treasury, with interest, the advances to the Colorado River Dam Fund for the project made prior to June 1, 1937, within fifty years from that date (excluding advances allocated to flood control by section 617a(b) of this title, which shall be repayable as provided in section 618f of this title), and such advances made on and after June 1, 1937, over fifty-year periods;
(c) To provide $600,000 for each of the years and for the purposes specified in section 618a(c) of this title;
(d) To provide $500,000 for each of the years and for the purposes specified in section 618a(d) of this title; and
(e) To provide, by application of the increments to rates specified in section 403(c)(2) of the Colorado River Basin Project Act of 1968, as amended and supplemented [43 U.S.C. 1543(c)(2)], revenues, from and after June 1, 1987, for application to the purposes there specified.
Such charges may be made subject to revisions and adjustments at such times, to such extent, and in such manner, as by the terms of their promulgation the Secretary shall prescribe.
(July 19, 1940, ch. 643, §1, 54 Stat. 774; Apr. 30, 1947, ch. 46, 61 Stat. 56; Pub. L. 98–381, title I, §104(a)(1)–(3), Aug. 17, 1984, 98 Stat. 1334.)
1984—Pub. L. 98–381, §104(a)(1), substituted "beginning June 1, 1937" for "during the period beginning June 1, 1937, and ending May 31, 1987" in provisions preceding subsec. (a).
Subsec. (a). Pub. L. 98–381, §104(a)(1), substituted "beginning June 1, 1937" for "during the period beginning June 1, 1937, and ending May 31, 1987".
Subsec. (b). Pub. L. 98–381, §104(a)(2), substituted "and such advances made on or after June 1, 1937, over fifty-year periods" for "and such portion of such advances made on or after June 1, 1937, as (on the basis of repayment thereof within such fifty-year period or periods as the Secretary may determine) will be repayable prior to June 1, 1987".
Subsec. (e). Pub. L. 98–381, §104(a)(3), added subsec. (e).
Act Apr. 30, 1947, changed name of Boulder Dam back to Hoover Dam.
Pub. L. 98–381, title I, §104(b), Aug. 17, 1984, 98 Stat. 1335, provided that: "Except as amended by this Act [amending sections 618, 618a, 618e, and 618k of this title], the Boulder Canyon Project Adjustment Act of 1940 (54 Stat. 774, as amended, 43 U.S.C. 618), as amended and supplemented [this subchapter], shall remain in full force and effect."