Sec. 348. Limitation on contract execution in the Arkansas River Basin
95 words·~1 min read·
/bill/116/s/1811/eah/section-348A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In this section, the term covered contract means a contract between any local governmental entity and the Secretary for water supply storage in a Federal or non-Federal hydropower lake within the Arkansas River Basin. For any new covered contract for a hydropower lake that is entered into during the period beginning on the date of enactment of this Act and ending on December 31, 2022, a local governmental entity shall not pay more than 110 percent of the initial principal cost for the acre-feet being sought for the new covered contract for that hydropower lake.