Watershed Protection and Flood Prevention Act, as Amended: An Act

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for in this Act. Such loans or advancements shall be made under contracts or agree- ments which will provide, under such terms and conditions as the Secretary deems appro- priate, for the repayment thereof in not more than fifty years from the date when the principal benefits of the works of improvement first become available, with interest at the average rate, as determined by the Secretary of the Treasury, payable by the Treasury upon its marketable public obligations outstanding at the beginning of the fiscal year in which the loan or advancement is made, which are neither due nor calla- ble for redemption for fifteen years from date of issue. With respect to any single plan for works of improvement, the amount of any such loan or advancement shall not exceed five million dollars. SEC. 9. The provisions of this Act shall be applicable to Hawaii, Alaska, Puerto Rico, and the Virgin Islands. SEC: 10. There are hereby authorized to be appropriated such sums as may be neces- sary to carry out the purposes of this Act, such sums to remain available until ex- pended. SEC. 11. This Act may be cited as the "Watershed Protection and Flood Prevention. Act" . SEC. 12. When the Secretary approves the furnishing of assistance to a local organ- ization in preparing a plan for works of improvement as provided for in section 3: (1) The Secretary shall so notify the Secretary of the Interior in order that the latter, as he desires, may make surveys and investigations and prepare a report with recommendations concerning the conservation and development of wildlife resources and participate, under arrangements satisfactory to the Secretary of Agriculture, in the preparation of a plan for works of improvement that is acceptable to the local organ- ization and the Secretary of Agriculture. (2) Full consideration shall be given to the recommendations contained in any such report of the Secretary of the Interior as he may submit to the Secretary of Agricul- ture prior to the time the local organization and the Secretary of Agriculture have agreed on a plan for works of improvement. The plan shall include such of the tech- nically and economically feasible works of improvement for wildlife purposes recom- mended in the report by the Secretary of the Interior as are acceptable to, and agreed to by, the local organization and the Secretary of Agriculture, and such report of the Secretary of the Interior shall, if requested by the Secretary of the Interior, acom- pany the plan for works of improvement when it is submitted to the Secretary of Agri- culture for approval or transmitted to the Congress through the President. (3) The cost of making surveys and investigations and of preparing reports concern- ing the conservation and development of wildlife resources shall be borne by the Secretary of the Interior out of funds appropriated to his Department.