Code · BILL · 117th Congress · S. 4136 (Reported in Senate) — To provide for improvements to the rivers and harbors of the United States, to provide for the conservation and devel... · Sec. 349

Sec. 349. City of El Dorado, Kansas

114 words·~1 min read·/bill/117/s/4136/rs/section-349

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The Secretary shall amend Contract DACW56–72–C–0220, between the United States and the City of El Dorado, Kansas, entered into on June 30, 1972, for the utilization by the City of storage space for water supply in El Dorado Lake, Kansas, to change the method of calculation of the interest charges that began accruing on June 30, 1991, on the investment costs for the 72,087 acre-feet of future use storage space, from compounding interest annually to charging simple interest annually on the principal amount, until— the City desires to convert the future use storage space to present use; and the principal amount plus the accumulated interest becomes payable pursuant to the terms of the Contract.