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<br />. <br /> <br />each participating project for purposes of computing interest <br />during construction and interest on the unpaid balance shall <br />be determined by the Secretary of the Treasury, as of the <br />beginning of the fiscal year in which construction is initiated, <br />on the basis of the computed average interest rate payable by <br />the Treasury upon its outstanding marketable public obligations, <br />which are neither due nor callable for redemption for fifteen <br />years from the date of issue." <br /> <br />The LegislatIve History for P. L. 86-529 is as follows: <br /> <br />S. 1892, S. Rept. No. 8n, H. Rept. No, 1644. Passed House <br />p. 11597. . Senate agreed with House amendment p. 11638, Vol. 106 <br />Congressional Record. Passed Senate p. 18746, Vol. 105 Congressional. <br />Record. <br /> <br />. <br /> <br />SEC. 6. Upon completion of each unit, participating project or <br />separable feature thereof, the Secretary shall allocate the total costs <br />(excluding any expenditures authorized by section 8 of this Act)Y of <br />constructing said unit, project or fea ture to power, irrigation, municipal <br />water supply, flood control, navigation, or any other purposes authorized <br />under reclamation law. Allocations of construction, operation and main- <br />tenance costs to authorized nonreimbursable purposes shall be nonreturn- <br />able under the provisions of this Act.Y In the event that the Navajo <br />participating project is authorized, the costs allocated to irrigation of <br />Indian-owned tribal or restricted lands within, under, or served by such <br />project, and beyond the capability of such lands to repay, shall be <br />determined, and, in recognition of the fact that assistance to the Navajo <br />Indians is the responsibility of the entire nation, such costs shall be <br />nonreimbursable. On January 1 of each year the Secretary shall report <br />to the Congress for the previous fiscal year, beginning with the fiscal <br />year 1957, upon the status of the revenues from, and the cost of, con- <br />structing, operating, and maintaining the Colorado River storage project <br />and the participating projects. The Secretary's report shall be prepared <br />to reflect accurately the Federal investment allocated at that time to <br />power, to irrigation, and to other purposes, the progress of return and <br />repayment thereon, and the estimated rate of progress, year by year, in <br />accomplishing full repayment. <br /> <br />lIlf@lf!E:$ <br /> <br />This section is codlf1ed as 43 U.S.C.A. 620e with the follOWing <br />changes in the Annotated Code: <br /> <br />1. " (S) ection 8 of this Act" rea ds "section 620g of this title. " <br /> <br />. <br /> <br />2. <br /> <br />"(T)his Act" reads "this chapter." <br /> <br />-340- <br /> <br />