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� <br />, � � <br />7-1/2 percent per annum for thie contr2ct; Provided, That the contract is <br />exAcuted during F1C 1987. With each anoual principal inatallment, the District <br />shall pay to the United States interesG on the following: <br />-�� <br />(1) That portion of the unpaid loan obligation attributable to <br />the conatruction a�ld interest during construction of the Projecs which may be <br />allocated by the Contracting Officer to furnishing M6I water, c0�ercial power, <br />v <br />and to reimbursable portions of [he recreation, and fish and wildlife functions. N�� <br />Such portion shall be determined by mul,tiplying the sum of the tatios provided <br />by subarticle (c)(2) herein for the M6I, commercial power, recreation, fish and <br />wildlife functions by the remaining unpaid loan obligation. Inrerest on M&I <br />water payments will be calculated on an annuity due basis using the established <br />interest rate. <br />(2) That portion of the unpaid loan obligation attributable to <br />construction ac�d intereat during construction of the Project, which is full <br />cost, that may be allocated by the Contt'acting Officer to furnishing irrigation <br />benefits to ExCess Lands at any time duting the pr�_�ding year. Such portion of <br />the loan oblig�tion shall be determined by dividing the total acreage of Excess <br />Lands by the total acreage of lands capSble of receiving irrigat�on benefits <br />during such petiod and multiplying the quotient so derived by the portion of the <br />unpaid loan obl,igation attributable to lrrigation. <br />(g) That portion of the unpaid loan obligation attributable to <br />irrigation which may be allocated by the Contracting Officer furAishing benefits <br />to lands not in excess ownership shall be reimbursable without interest. Such <br />portion shall be determined by subtracting the total acreage of Excess Lands <br />from the total acreage of lands capable of receiving irrigation benefits. <br />18 <br />