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<br />'. <br /> <br />4 <br /> <br />1 sition and construction of one or more projects; no water au- <br /> <br />UJ <br /> <br />2 thority shall be an agency of the United States. <br /> <br />3 (e) The term "costs of acquisition and construction" <br /> <br /> <br />4 with respect to any project shall mean the cost of studying, <br /> <br />5 planning, engineering, acquiring, constructing, financing, car- <br /> <br />6 rying out and placing in operation such project, and such <br /> <br />7 costs shall include, but shall not be limited to, funds required <br /> <br />8 for-':"'" <br /> <br />. <br /> <br />9 <br />10 <br />11 <br />12 <br />13 <br /> <br />(1) all such costs required to be borne by the <br /> <br /> <br />water authority and for a supply of water for the pur- <br /> <br /> <br />poses of the project; <br /> <br />(2) interest accruing in whole or in part on obliga- <br /> <br />tions of a water authority issued to finance the project <br /> <br />10 <br /> <br />(,~: <br /> <br /><' <br /> <br />/ <br />-{ ."'- <br />-- ;~. <br /> <br />14 prior to the date the project is estimated by the water <br /> <br />15 authority to be first ready for normal continuous oper- <br /> <br />16 ation and for such additional period as the authority <br /> <br /> <br />17 may reasonably determine; <br /> <br />o' <br /> <br />(3) the deposit or deposits from the proceeds of <br /> <br />the water authority obligations in any fund or account <br /> <br />J <br /> <br />18 <br />19 <br /> <br />20 established pursuant to the resolution authorizing the <br /> <br />21 issuance of such obligations to meet debt service re- <br /> <br /> <br />22 serve and other reserve requirements for such obliga- <br /> <br />23 tions; <br /> <br />24 <br /> <br />(4) the costs and expenses incurred in connection <br /> <br />r <br />'-" <br /> <br />25 with the issuance and sale of water authority obliga- <br /> <br />H.R. 43BO-ih <br />