Page:United States Statutes at Large Volume 106 Part 6.djvu/131

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PUBLIC LAW 102-575 —OCT. 30, 1992 106 STAT. 4689 from any tax-exempt entity) to finance the transaction, and if the Office of Management and Budget grants the Secretary the right to conduct such a transaction, then the interest rate by which the Secretary discounts the remaining payments due on the loan shall be adjusted by an amount that compensates the Federal Government for the direct or indirect loss of future tax revenues. (f) Notwithstanding any other provision in this title, the interest rate shall not exceed a composite interest rate consisting of the current market yield on Treasury securities of comparable maturities. (g) The Secretary shall obtain approval from the Secretary of the Treasury and the Director of the Office of Management and Budget of the final terms of any loan sale or prepa3niient made pursuant to this title. SEC. 2502. TERMINATION AND CONVEYANCE OF RIGHTS. Upon receipt of the pa3anent specified in section 2301(b)— (1) the District's obligation under the loan contract described in section 2301(a)(2) shall be terminated; (2) the Secretary of the Interior shall convey all right and interest of the United States in the Freeman Diversion Improvement Project to the District; and (3) the District shall absolve the United States, and its officers and agents, of any liability associated with the Freeman Diversion Improvement Project. SEC. 2503. TERMINATION OF AUTHORITY. The authority granted by this title to sell loans shall terminate two years after the date of enactment of this Act: Provided, That the borrower shall have at least sixty days to respond to any prepayment offer made by the Secretary. TITLE XXVI—HIGH PLAINS GROUNDWATER PROGRAM SEC. 2601. HIGH PLAINS STATES GROUNDWATER DEMONSTRATION PROGRAM ACT. The High Plains States Groundwater Demonstration Program Act of 1983 (43 U.S.C. 390g -l et seq.) is amended as follows: (1) Section 4(c)(2) and section 5 are each amended by 43 USC 390g-2, striking "final report" each place it appears and inserting "sum- ^^^s~^- mary report". (2) Section 4(c) is amended by adding at the end the following: "(3) In addition to recommendations made under section 3, the Secretary shall make additional recommendations for design, construction, and operation of demonstration projects. Such projects are authorized to be designed, constructed, and operated in accordance with subsection (a). "(4) Each project under this section shall terminate five years after the date on which construction on the project is completed. "(5) At the conclusion of phase II the Secretary shall Reports. submit a final report to the Congress which shall include, but not be limited to, a detailed evaluation of the projects under this section.". (3) Section 7 is amended by striking "$20,000,000 (October 43 USC 390g-5. 1983 price levels)" and inserting in lieu thereof "$31,000,000