Pub. L. 93-493, tit. X, sec. 1002

Sec. 1002. (a) Costs of the project, allocated to municipal and industrial water supply, shall be repayable to the United States in not more than forty years under either the provisions of the Federal reclamation laws or under the provisions of the Water Supply Act of 1958 (title III of Public Law 85–500,72 Stat. 319, and Acts mandatory thereof or supplementary thereto): Provided, That, in either case, repayment of costs allocated to municipal and industrial water supply shall include interest on the unamortized balance. (b) The interest rate used for computing interest during construction and interest on the unpaid balance of the reimbursable costs of the project allocated to municipal and industrial water supply shall be determined by the Secretary of the Treasury, as of the beginning of the fiscal year in which construction of the project is commenced, on the basis of the computed average interest payable by the Treasury upon its outstanding marketable public obligations which are neither due nor callable for redemption for fifteen years from date of issue.