REPLACEMENT WATER FUND; CONTRACTS.

SEC. 106. REPLACEMENT WATER FUND; CONTRACTS. (a) Fund. —The Secretary shall establish a fund to be known as the “Verde River Basin Water Fund” (hereinafter called the “Fund”) to provide replacement water for the CAP water relinquished by the Tribe and by Prescott. Moneys in the Fund shall be available without fiscal year limitations. (b) Content of Fund. —The Fund shall consist of moneys obtained through the assignment or purchase of the contract and subcontract referenced in section 105, appropriations as authorized in section 109, and any moneys returned to the Fund pursuant to subsection (d) of this section. (c) Payments From Fund. —The Secretary shall, subsequent to the publication of a statement of findings as provided in section 112(a), promptly cause to be paid from the Fund to the Tribe the amounts deposited to the Fund from the assignment or purchase of the Tribe’s CAP contract, and, to the city of Prescott, the amounts deposited to the Fund from the assignment or purchase of the city’s CAP subcontract. (d) Contracts. —The Secretary shall require, as a condition precedent to the payment of any moneys pursuant to subsection (c), that the Tribe and Prescott agree, by contract with the Secretary, to establish trust accounts into which the payments would be deposited and administered, to use such moneys consistent with the purpose and intent of section 107, to provide for audits of such accounts, and for the repayment to the Fund, with interest, any amount determined by the Secretary not to have been used within the purpose and intent of section 107.