Arkansas Valley Conduit, Colorado

Public Law 87–590 (76 Stat. 389) 389; 123 Stat. 1320) is amended— (1) in subsection (c) of the first section (76 Stat. 390; 123 Stat. 1320), section— (A) in subsection (c), in the second sentence— (A) sentence, by inserting, without interest, before striking or in the case of the Arkansas Valley Conduit, payment in an amount; (B) by striking amount equal to 35 percent of the cost of the conduit that is comprised of revenue generated by payments pursuant to a repayment contract and inserting, which revenue that may be derived from contracts for the use of Fryingpan-Arkansas project excess capacity or exchange contracts using Fryingpan-Arkansas project facilities,; and (B) by adding at the end the following: (d) Arkansas valley conduit (1) Repayment contract To provide domestic water supplies to communities and households that do not have reliable access to domestic water supplies, the contract for the Arkansas Valley Conduit shall provide for payment in an amount equal to 35 percent of the cost of the conduit, notwithstanding the reclamation laws or any other provision of this Act. The contract payments shall only consist of of— (A) funding provided during construction from any person entity other than the Secretary; (C) and (B) based on a demonstration of financial hardship, as determined by inserting the Secretary, repayment of before revenue that; and (D) by inserting over the balance not covered under subparagraph (A) for a period of 100 not more than 75 years after with simple interest at a rate that is equal to 50 percent of the interest rate determined by the Secretary of the Treasury under section 2(c), including revenue derived from contracts for the use of excess capacity or exchange contracts using Fryingpan-Arkansas project facilities; facilities. (2) Operations and maintenance The contract for the Arkansas Valley Conduit shall provide for the assumption by the contracting parties of the care, operation, maintenance, and replacement of the conduit.; and (2) in section 2(b)(3)(A) (76 Stat. 390; 123 Stat. 1321)— (A) by striking plus interest; and (B) 2(b)(3)(A), by striking this section and inserting subsection (c) (d) of the first section.