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i � 4 <br />W <br />aside for re�_ilacemen`ts for said year; should - bie sufficient' to, make j <br />the payments to the States of �Irizona and and the transfers to I � <br />the Colorado River Develon.ner_t Fund herein provided for,, <br />or, such payments- <br />and transfers shall be- proportionately reduced, .as the Secretary may find <br />to be necessary by reason- thereof. <br />SECTION L}-. (a) - Upon the taking effect of° this act, pursuant to <br />Section 10 hereof, the charges, or the basiskof computation thereof, <br />i <br />promulgated hereunder, shall be applicable,as from June 1, 1 937 1 and <br />adjustments-of accounts by reason thereof, including charges by and <br />against the United'States, shall be made so that the United States and' <br />all parties that have contracted for energy, or for the privilege of <br />generating energy, at the Projecti .shall be placed- in the same positron -, <br />as° nearly as ma,,,r. be, as determined by the Secretary-, that they v.-oulT <br />have occupied ha:& such charges, or the basis of computation thereof. <br />Sand the `method of operation -which may be provid °ed for under Section 9• <br />hereof, been effective on> June 1, 1 7, provided that such adjustmentsF <br />with contractors shall not be made in cash, but shall be made- by means <br />of credits extended over such period as the Secretary may determine. <br />(b) In the event - payments to the States of Arizona and •Nevad'a, or <br />either of them., under Section 2(c)• hereof, sha11 be reduced by reason <br />of the collection-of taxes mentioned in said sedtion, adjustments.oshall <br />be made, from time to-'time with- each allottees which shall have paid" <br />any.-such taxes, by credits., or otherwise, f•or that proportion of the <br />amount of such reductions which the amount -of the- payments of such- <br />taxes by such allottee bears to the total amount of such taxes <br />f <br />col- Tected„ ; <br />-6- <br />P <br />