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<br />00 <br /> <br />.. <br /> <br />or) <br />- <br /> <br /> <br />......~.. <br /> <br />HoO\'er Dam. cOli/pIned in 1935, comrals am! regulates rhe lower Colorado River. <br /> <br />- hydroelectric power production. <br />The Act established a special fund- <br />the "Colorado River Dam Fund" - to <br />finance constmction of the project and <br />authorized the transfer of $165 million <br />tI-om the United States Treasury to the <br />fund. It also stated that. before the dam <br />could be constructed, the Secretary of <br />the Interior should provide adequate <br />revenues to ensure operation, main- <br />tcnance, and amOl1iZalion. These revenues <br />were to repay. within 50 years, all <br />advances for construction of Hoover Dam <br /> <br />and Powerplant with interest, except for <br />$25 million allocated to flood control. <br />Repayment of this money, without in- <br />terest, could be deferred until the interest- <br />bearing portion of the debt was paid. sub- <br />ject to Congressional direction. Revenues <br />were to come mainly from the sale of <br />hydroelectric power generated at the darn. <br />Contracts for selling the energy were <br />speedily negotiated. <br />The stage for construction was set. <br />Work could begin. The Bureau of <br />Reclamation had a job which would de- <br />mand all the skill and knowledge it had <br />obtained in its quarter century of <br />experience. <br /> <br />On September 17, 1930, Secretary <br />of the Interior Ray Lyman Wilbur <br />announced that a new dam to be built in <br />Black Canyon would be called Hoover <br />Dam. and Congress affirmed the name to <br />honor the then President of the United <br />States. Later. the names Boulder Canyon <br />Dam and Boulder Dam were used. The <br />name Hoover Dam was restored by Con- <br />gress in April 1947. <br /> <br />17 <br />