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<br />l6 <br />TO PARTICIPATE FINANCIALLY AND TO HONOR PRIOR COMMITMENTS MADE <br />BY THE UNITED STATES, AND PROVIDES THAT OPERATION AND MAINTENANCE <br />COSTS WILL BE THE RESPONSIBILITY OF PROJECT BENEFICIARIES. <br />NON-FEDERAL SHARES O~' CONSTRUC'l'ION COSTS NORMALLY ~IILL BE PAID <br />DURING THE PERIOD OF CONSTRUCTION EXCEPT FOR IRRIGATION AND FLOOD <br />CONTROL. IF THERE IS SUFFICIENT EVIDENCE THAT RAISING CAPITAL FOR <br />IRRIGATION AND FLOOD CONTROL WOULD BE AN UNDUE BURDEN ON NON-FEDERAL <br />SPONSORS, THEN AN APPROPRIATE PORtION OF THE NON-FEDERAL SHARE MAY <br />BE FEDERALLY FINANCED, BUT MUST BE REPAID AT INTEREST IF PROVIDED <br />FOR IN LAW. ACTUAL COST-SHARING ARRANGEMENTS WILL BE MADE ON A <br />CASE-BY-CASE BASIS USING THE COST-SHARING POLICY AS GUIDELINES. <br />FOR PROJECTS CURRENTLY UNDER CONSTRUCTION OR COMPLETED, CURRENT <br />REPAYMENT PROVISIONS WILL REMAIN IN EFFECT. <br /> <br />THIS NEW INTERIM POLICY IS BASED ON THE RECOGNIT!ONTHAT, IN <br />THE CURRENT ERA OF FISCAL AUSTERITY, CONTINUED DEVELOPMENT OF MUCH <br />NEEDED WATER PROJECTS WILL ,REQUIRE INCREASED NON-FEDERAL PARTICI- <br />PATION IN PROJECT PLANNING, FINANCING AND MANAGEMENT. <br /> <br />IT HAS BEEN A PLEASURE MEETING WITH THIS ORGANIZATION. WE LOOK <br />FORWARD TO A CONTINUING DIALOG OVER THE NEXT FEW YEARS. <br /> <br />C-21 <br />