Public Law 83–542

That the Act of September 27, 1950 (64 Stat. 1072), as amended, is further amended by adding thereto a new section reading as follows:

“Sec. 6.

Upon the execution of a contract with the Vermejo Conservancy

Bonded indebtedness.

District supplementary to or amendatory of the contract dated August 7, 1952, between the district and the United States, pursuant to which supplementary or amendatory contract the district agrees to an increase in the total obligation repayable by it under the contract of August 7, 1952, in an amount equal to the face value of the outstanding bonds of the Maxwell Irrigation Company held by the Reconstruction Finance Corporation with unpaid interest, if any, accrued after July 1, 1953, and to a commensurate increase in the annual base charge provided in article 10 of said contract the entire obligation of said company to the Reconstruction Finance Corporation shall be fully discharged and said bonds shall be

Transfer of funds.

returned to the debtor for cancellation. Thereupon the Secretary of the Interior shall request, and the Secretary of the Treasury shall cause to be transferred on the books of the Treasury to the account of the Reconstruction Finance Corporation from moneys appropriated for carrying on the functions of the Bureau of Reclamation and available for constructing the Vermejo reclamation project, a sum equal to the face value of the outstanding bonds, with accrued interest, as aforesaid, of the Maxwell Irrigation Company held by the Reconstruction Finance Corporation.”

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Sec. 2.

The limit upon the amount repayable by the contracting

Repayment limitation.

organization which is set forth in the proviso to section 2 of the Act of September 27, 1950, shall be exclusive of any additional amount which the district undertakes to repay pursuant to section 1 of this Act.