Public Law 75–577

That whenever a

Uncompahgre Valley reclamation project, Colo.

Sale of surplus power authorized; contracts.

development of power is necessary for the irrigation of lands under the Uncompahgre Valley reclamation project, Colorado, or an opportunity is afforded for the development of power under said project, the Secretary of the Interior is authorized to enter into a contract for a period not exceeding forty years for the sale or development of any surplus power. The provisions of such contract shall he such as the said Secretary may deem to be equitable: Provided, That no such contract shall be made without the approval of

Provisos.

Approval of Uncompahgre Valley Water Users’ Association.

the Uncompahgre Valley Water Users’ Association, which, prior to any development of power on said project, shall be required to contract with the United States to repay the cost thereof, on such terms and conditions and with such provisions for the disposal of the annual net power profits as the said Secretary may deem to be equitable, and with or without interest on the construction cost as the said Secretary may determine: And provided further, That if the

Disposition of net earnings.

said association is not required to pay interest on the construction cost of the power plant and power system, the net earnings of the power plant and system, after the association shall have paid the full cost thereof, and its project construction charge indebtedness to the United States shall be payable into the reclamation fund, unless Congress shall hereafter otherwise direct.