-CITE-

16 USC CHAPTER 12G - PACIFIC NORTHWEST FEDERAL

TRANSMISSION SYSTEM 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

.

-HEAD-

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-MISC1-

Sec.

838. Congressional findings; authority and duties of Secretary of

Energy relating to Federal Columbia River Power System

unaffected.

838a. Definitions.

838b. Operation and maintenance of Federal transmission system;

construction of improvements, betterments, additions and

replacements; criteria.

838c. Acquisition by condemnation of transmission facilities.

(a) Approval by Congress; exceptions.

(b) Notice of request for approval for construction

or condemnation to contracting or

interconnected entities in Pacific Northwest.

838d. Transmission of non-Federal power.

838e. Acquisition of property.

838f. Marketing of Federal power; sales agent.

838g. Schedules of rates and charges for sale of Federal power and

transmission of non-Federal power; confirmation and approval;

criteria for modification and establishment.

838h. Uniform schedules of rates and charges for sale of Federal

power and transmission of non-Federal power; allocation of cost

recovery.

838i. Bonneville Power Administration fund.

(a) Establishment; composition; availability of

transferred funds for expenditures.

(b) Authorized purposes of expenditures.

(c) Restriction on use of expenditures to authorized

purposes; expenditures of moneys received in

trust; applicability of provisions relating to

control of Government corporations.

(d) Audit of financial transactions by Comptroller

General; report to Congress.

838j. Investment of excess moneys; deposit of moneys.

838k. Bonneville Power Administration bonds.

(a) Issuance and sale; terms and conditions; interest

rate; limitation on aggregate principal amount

outstanding.

(b) Payment of principal, premiums, and interest from

net proceeds; ''net proceeds'' defined.

(c) Purchase and sale by Secretary of the Treasury;

public debt transactions.

838l. Bonneville Power Administration refinancing.

(a) Definitions.

(b) New principal amounts.

(c) Interest rate for new principal amounts.

(d) Repayment dates.

(e) Prepayment limitations.

(f) Interest rates for new capital investments during

construction.

(g) Interest rates for new capital investments.

(h) Omitted.

(i) Contract provisions.

(j) Savings provisions.

-SECREF-

CHAPTER REFERRED TO IN OTHER SECTIONS

This chapter is referred to in sections 839b, 839c, 839d, 839e,

839f of this title; title 42 section 7152.

-CITE-

16 USC Sec. 838 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838. Congressional findings; authority and duties of Secretary

of Energy relating to Federal Columbia River Power System

unaffected

-STATUTE-

(a) Congress finds that in order to enable the Secretary of

Energy to carry out the policies of Public Law 88-552 (16 U.S.C.

837 et seq.) relating to the marketing of electric power from

hydroelectric projects in the Pacific Northwest, Public Laws 89-448

and 89-561 relating to use of revenues of the Federal Columbia

River Power System to provide financial assistance to reclamation

projects in the Pacific Northwest, the treaty between the United

States and Canada relating to the cooperative development of the

resources of the Columbia River Basin, and other applicable law, it

is desirable and appropriate that the revenues of the Federal

Columbia River Power System and the proceeds of revenue bonds be

used to further the operation, maintenance, and further

construction of the Federal transmission system in the Pacific

Northwest.

(b) Other than as specifically provided herein, the present

authority and duties of the Secretary of Energy relating to the

Federal Columbia River Power System shall not be affected by this

chapter. The authority and duties of the Administrator referred to

herein are subject to the supervision and direction of the

Secretary.

-SOURCE-

(Pub. L. 93-454, Sec. 2, Oct. 18, 1974, 88 Stat. 1376; Pub. L.

95-91, title III, Sec. 302(a)(1)(D), Aug. 4, 1977, 91 Stat. 578.)

-REFTEXT-

REFERENCES IN TEXT

Public Law 88-552, referred to in subsec. (a), is act Aug. 31,

1964, 78 Stat. 756, as amended, which is classified generally to

chapter 12F (Sec. 837 et seq.) of this title. For complete

classification of this Act to the Code, see Tables.

Public Law 89-448, referred to in subsec. (a), is Pub. L. 89-448,

Sec. 1-3, June 14, 1966, 80 Stat. 200, as amended, which enacted

sections 835j and 835k of this title and amended section 832h of

this title.

Public Law 89-561, referred to in subsec. (a), is Pub. L. 89-561,

Sec. 1-6, Sept. 7, 1966, 80 Stat. 707, which enacted sections 835l

and 835m of this title and section 1962d-6 of Title 42, The Public

Health and Welfare, and amended sections 835j and 835k of this

title.

-MISC2-

SHORT TITLE

Section 1 of Pub. L. 93-454 provided that: ''This Act (enacting

this chapter) may be cited as the 'Federal Columbia River

Transmission System Act'.''

-TRANS-

TRANSFER OF FUNCTIONS

''Secretary of Energy'' substituted in text for ''Secretary of

the Interior'' pursuant to Pub. L. 95-91, Sec. 302(a)(1)(D), which

is classified to section 7152(a)(1)(D) of Title 42, The Public

Health and Welfare.

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, with Bonneville Power

Administration to be preserved as a distinct organizational entity

within Department of Energy and headed by an Administrator.

-CITE-

16 USC Sec. 838a 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838a. Definitions

-STATUTE-

As used in this chapter -

(a) The term ''Administrator'' means the Administrator,

Bonneville Power Administration.

(b) The term ''electric power'' means electric peaking capacity

or electric energy, or both.

(c) The term ''major transmission facilities'' means

transmission facilities intended to be used to provide services

not previously provided by the Bonneville Power Administration

with its own facilities.

-SOURCE-

(Pub. L. 93-454, Sec. 3, Oct. 18, 1974, 88 Stat. 1376.)

-TRANS-

TRANSFER OF FUNCTIONS

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, The Public Health and Welfare, with

Bonneville Power Administration to be preserved as a distinct

organizational entity within Department of Energy and headed by an

Administrator.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 839e of this title.

-CITE-

16 USC Sec. 838b 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838b. Operation and maintenance of Federal transmission

system; construction of improvements, betterments, additions

and replacements; criteria

-STATUTE-

The Secretary of Energy, acting by and through the Administrator,

shall operate and maintain the Federal transmission system within

the Pacific Northwest and shall construct improvements,

betterments, and additions to and replacements of such system

within the Pacific Northwest as he determines are appropriate and

required to:

(a) integrate and transmit the electric power from existing or

additional Federal or non-Federal generating units;

(b) provide service to the Administrator's customers;

(c) provide interregional transmission facilities; or

(d) maintain the electrical stability and electrical

reliability of the Federal system: Provided, however, That the

Administrator shall not construct any transmission facilities

outside the Pacific Northwest, excepting customer service

facilities within any contiguous areas, not in excess of

seventy-five airline miles from said region, which are a part of

the service area of a distribution cooperative which has (i) no

generating facilities, and (ii) a distribution system from which

it serves both within and without said region, nor shall he

commence construction of any major transmission facility within

the Pacific Northwest, unless the expenditure of the funds for

the initiation of such construction is specifically approved by

Act of Congress.

-SOURCE-

(Pub. L. 93-454, Sec. 4, Oct. 18, 1974, 88 Stat. 1376; Pub. L.

95-91, title III, Sec. 302(a)(1)(D), Aug. 4, 1977, 91 Stat. 578.)

-TRANS-

TRANSFER OF FUNCTIONS

''Secretary of Energy'' substituted in text for ''Secretary of

the Interior'' pursuant to Pub. L. 95-91, Sec. 302(a)(1)(D), which

is classified to section 7152(a)(1)(D) of Title 42, The Public

Health and Welfare.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 838c of this title.

-CITE-

16 USC Sec. 838c 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838c. Acquisition by condemnation of transmission facilities

-STATUTE-

(a) Approval by Congress; exceptions

Unless specifically authorized by Act of Congress, the

Administrator shall not expend funds made available under this

chapter, other than funds specifically appropriated by the Congress

for such purpose, to acquire any operating transmission facility by

condemnation: Provided, That this provision shall not restrict the

acquisition of the right to cross such a facility by condemnation.

(b) Notice of request for approval for construction or condemnation

to contracting or interconnected entities in Pacific Northwest

At least sixty days prior to the time a request for approval or

authority under this section or section 838b of this title is sent

to Congress, the Administrator shall give notice of such request to

entities in the Pacific Northwest with which the Administrator has

power sales or exchange contracts or transmission contracts or

which have a transmission interconnection with the Federal

transmission system.

-SOURCE-

(Pub. L. 93-454, Sec. 5, Oct. 18, 1974, 88 Stat. 1377.)

-TRANS-

TRANSFER OF FUNCTIONS

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, The Public Health and Welfare, with

Bonneville Power Administration to be preserved as a distinct

organizational entity within Department of Energy and headed by an

Administrator.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 838e of this title.

-CITE-

16 USC Sec. 838d 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838d. Transmission of non-Federal power

-STATUTE-

The Administrator shall make available to all utilities on a fair

and nondiscriminatory basis, any capacity in the Federal

transmission system which he determines to be in excess of the

capacity required to transmit electric power generated or acquired

by the United States.

-SOURCE-

(Pub. L. 93-454, Sec. 6, Oct. 18, 1974, 88 Stat. 1377.)

-TRANS-

TRANSFER OF FUNCTIONS

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, The Public Health and Welfare, with

Bonneville Power Administration to be preserved as a distinct

organizational entity within Department of Energy and headed by an

Administrator.

-CITE-

16 USC Sec. 838e 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838e. Acquisition of property

-STATUTE-

Subject to the provisions of section 838c of this title the

Administrator may purchase or lease or otherwise acquire and hold

such real and personal property in the name of the United States as

he deems necessary or appropriate to carry out his duties pursuant

to law.

-SOURCE-

(Pub. L. 93-454, Sec. 7, Oct. 18, 1974, 88 Stat. 1377.)

-TRANS-

TRANSFER OF FUNCTIONS

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, The Public Health and Welfare, with

Bonneville Power Administration to be preserved as a distinct

organizational entity within Department of Energy and headed by an

Administrator.

-CITE-

16 USC Sec. 838f 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838f. Marketing of Federal power; sales agent

-STATUTE-

The Administrator is hereby designated as the marketing agent for

all electric power generated by Federal generating plants in the

Pacific Northwest, constructed by, under construction by, or

presently authorized for construction by the Bureau of Reclamation

or the United States Corps of Engineers except electric power

required for the operation of each Federal project and except

electric power from the Green Springs project of the Bureau of

Reclamation.

-SOURCE-

(Pub. L. 93-454, Sec. 8, Oct. 18, 1974, 88 Stat. 1377.)

-TRANS-

TRANSFER OF FUNCTIONS

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, The Public Health and Welfare, with

Bonneville Power Administration to be preserved as a distinct

organizational entity within Department of Energy and headed by an

Administrator.

Power marketing functions of Bureau of Reclamation, including

construction, operation, and maintenance of transmission lines and

attendant facilities, transferred to Secretary of Energy by section

7152(a)(1)(E), (3) of Title 42, and are to be exercised by

Secretary through a separate Administration within Department of

Energy.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 838g of this title.

-CITE-

16 USC Sec. 838g 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838g. Schedules of rates and charges for sale of Federal power

and transmission of non-Federal power; confirmation and

approval; criteria for modification and establishment

-STATUTE-

Schedules of rates and charges for the sale, including

dispositions to Federal agencies, of all electric power made

available to the Administrator pursuant to section 838f of this

title or otherwise acquired, and for the transmission of

non-Federal electric power over the Federal transmission system,

shall become effective upon confirmation and approval thereof by

the Secretary of Energy. Such rate schedules may be modified from

time to time by the Secretary of Energy, acting by and through the

Administrator, subject to confirmation and approval by the

Secretary of Energy, and shall be fixed and established (1) with a

view to encouraging the widest possible diversified use of electric

power at the lowest possible rates to consumers consistent with

sound business principles, (2) having regard to the recovery (upon

the basis of the application of such rate schedules to the capacity

of the electric facilities of the projects) of the cost of

producing and transmitting such electric power, including the

amortization of the capital investment allocated to power over a

reasonable period of years and payments provided for in section

838i(b)(9) of this title, and (3) at levels to produce such

additional revenues as may be required, in the aggregate with all

other revenues of the Administrator, to pay when due the principal

of, premiums, discounts, and expenses in connection with the

issuance of and interest on all bonds issued and outstanding

pursuant to this chapter, and amounts required to establish and

maintain reserve and other funds and accounts established in

connection therewith.

-SOURCE-

(Pub. L. 93-454, Sec. 9, Oct. 18, 1974, 88 Stat. 1377; Pub. L.

95-91, title III, Sec. 301(b), 302(a)(1)(D), Aug. 4, 1977, 91 Stat.

578.)

-TRANS-

TRANSFER OF FUNCTIONS

''Secretary of Energy'' substituted in text for ''Secretary of

the Interior'' and ''Federal Power Commission'' pursuant to Pub. L.

95-91, Sec. 301(b), 302(a)(1)(D), which are classified to sections

7151(b) and 7152(a)(1)(D) of Title 42, The Public Health and

Welfare.

Federal Power Commission terminated and its functions, personnel,

property, funds, etc., transferred to Secretary of Energy (except

for certain functions transferred to Federal Energy Regulatory

Commission) by sections 7151(b), 7171(a), 7172(a), 7291, and 7293

of Title 42.

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, with Bonneville Power

Administration to be preserved as a distinct organizational entity

within Department of Energy and headed by an Administrator.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 839e of this title.

-CITE-

16 USC Sec. 838h 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838h. Uniform schedules of rates and charges for sale of

Federal power and transmission of non-Federal power; allocation

of cost recovery

-STATUTE-

The said schedules of rates and charges for transmission, the

said schedules of rates and charges for the sale of electric power,

or both such schedules, may provide, among other things, for

uniform rates or rates uniform throughout prescribed transmission

areas. The recovery of the cost of the Federal transmission system

shall be equitably allocated between Federal and non-Federal power

utilizing such system.

-SOURCE-

(Pub. L. 93-454, Sec. 10, Oct. 18, 1974, 88 Stat. 1378.)

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 839e of this title.

-CITE-

16 USC Sec. 838i 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838i. Bonneville Power Administration fund

-STATUTE-

(a) Establishment; composition; availability of transferred funds

for expenditures

There is hereby established in the Treasury of the United States

a Bonneville Power Administration fund (hereinafter referred to as

the ''fund''). The fund shall consist of (1) all receipts,

collections, and recoveries of the Administrator in cash from all

sources, including trust funds, (2) all proceeds derived from the

sale of bonds by the Administrator, (3) any appropriations made by

the Congress for the fund, and (4) the following funds which are

hereby transferred to the Administrator: (i) all moneys in the

special account in the Treasury established pursuant to Executive

Order Numbered 8526 dated August 26, 1940, (ii) the unexpended

balances in the continuing fund established by the provisions of

section 832j of this title, and (iii) the unexpended balances of

funds appropriated or otherwise made available for the Bonneville

Power Administration. All funds transferred hereunder shall be

available for expenditure by the Secretary of Energy, acting by and

through the Administrator, as authorized in this chapter and any

other Act relating to the Federal Columbia River transmission

system, subject to such limitations as may be prescribed by any

applicable appropriation act effective during such period as may

elapse between their transfer and the approval by the Congress of

the first subsequent annual budget program of the Administrator.

(b) Authorized purposes of expenditures

The Administrator may make expenditures from the fund, which

shall have been included in his annual budget submitted to

Congress, without further appropriation and without fiscal year

limitation, but within such specific directives or limitations as

may be included in appropriation acts, for any purpose necessary or

appropriate to carry out the duties imposed upon the Administrator

pursuant to law, including but not limited to -

(1) construction, acquisition, and replacement of (i) the

transmission system, including facilities and structures

appurtenant thereto, and (ii) additions, improvements, and

betterments thereto (hereinafter in this chapter referred to as

''transmission system'');

(2) operation, maintenance, repair, and relocation, to the

extent such relocation is not provided for under subsection (1)

above, of the transmission system;

(3) electrical research, development, experimentation, test,

and investigation related to construction, operation, and

maintenance of transmission systems and facilities;

(4) marketing of electric power;

(5) transmission over facilities of others and rental, lease,

or lease-purchase of facilities;

(6) purchase of electric power (including the entitlement of

electric plant capability) (i) on a short-term basis to meet

temporary deficiencies in electric power which the Administrator

is obligated by contract to supply, or (FOOTNOTE 1) (ii) if such

purchase has been heretofore authorized or is made with funds

expressly appropriated for such purchase by the Congress, (iii)

if to be paid for with funds provided by other entities for such

purpose under a trust or agency arrangement, or (iv) on a short

term basis to meet the Administrator's obligations under section

4(h) of the Pacific Northwest Electric Power Planning and

Conservation Act (16 U.S.C. 839b(h));

(FOOTNOTE 1) So in original. The word ''or'' probably should

not appear.

(7) defraying emergency expenses or insuring continuous

operation;

(8) paying the interest on, premiums, discounts, and expenses,

if any, in connection with the issuance of, and principal of all

bonds issued under section 838k(a) of this title, including

provision for and maintenance of reserve and other funds

established in connection therewith;

(9) making such payments to the credit of the reclamation fund

or other funds as are required by or pursuant to law to be made

into such funds in connection with reclamation projects in the

Pacific Northwest: Provided, That this clause shall not be

construed as permitting the use of revenues for repayment of

costs allocated to irrigation at any project except as otherwise

expressly authorized by law;

(10) making payments to the credit of miscellaneous receipts of

the Treasury for all unpaid costs required by or pursuant to law

to be charged to and returned to the general fund of the Treasury

for the repayment of the Federal investment in the Federal

Columbia River Power System from electric power marketed by the

Administrator;

(11) acquiring such goods and services, and paying dues and

membership fees in such professional, utility, industry, and

other societies, associations, and institutes, together with

expenses related to such memberships, including but not limited

to the acquisitions and payments set forth in the general

provisions of the annual appropriations Act for the Department of

Energy, as the Administrator determines to be necessary or

appropriate in carrying out the purposes of this chapter; and

(12) making such payments, as shall be required to carry out

the purposes and provisions of the Pacific Northwest Electric

Power Planning and Conservation Act (16 U.S.C. 839 et seq.).

(c) Restriction on use of expenditures to authorized purposes;

expenditures of moneys received in trust; applicability of

provisions relating to control of Government corporations

Moneys heretofore or hereafter appropriated shall be used only

for the purposes for which appropriated, and moneys received by the

Administrator in trust shall be used only for carrying out such

trust. The provisions of chapter 91 of title 31 shall be

applicable to the Administrator in the same manner as they are

applied to the wholly owned Government corporations named in

section 9101 of title 31, but nothing in section 9105(d) (FOOTNOTE

2) of title 31 shall be construed as affecting the powers granted

in subsection (b)(11) of this section and in sections 832a(f),

832i(b), and 832k(a) of this title.

(FOOTNOTE 2) See References in Text note below.

(d) Audit of financial transactions by Comptroller General; report

to Congress

Notwithstanding the provisions of sections 9105 and 9106 of title

31, the financial transactions of the Administrator shall be

audited by the Comptroller General at such times and to such extent

as the Comptroller General deems necessary, and reports of the

results of each such audit shall be made to the Congress within 6

1/2 months following the end of the fiscal year covered by the

audit.

-SOURCE-

(Pub. L. 93-454, Sec. 11, Oct. 18, 1974, 88 Stat. 1378; Pub. L.

95-91, title III, Sec. 302(a)(1)(D), Aug. 4, 1977, 91 Stat. 578;

Pub. L. 96-501, Sec. 8(a), (b), Dec. 5, 1980, 94 Stat. 2728.)

-REFTEXT-

REFERENCES IN TEXT

Executive Order Numbered 8526 dated August 26, 1940, referred to

in subsec. (a), is not classified to the Code.

The Pacific Northwest Electric Power Planning and Conservation

Act, referred to in subsec. (b)(12), is Pub. L. 96-501, Dec. 5,

1980, 94 Stat. 2697, which is classified principally to chapter 12H

(Sec. 839 et seq.) of this title. For complete classification of

this Act to the Code, see Short Title note set out under section

839 of this title and Tables.

Section 9105 of title 31, referred to in subsec. (c), was amended

generally by Pub. L. 101-576, title III, Sec. 305, Nov. 15, 1990,

104 Stat. 2853, and, as so amended, does not contain a subsec. (d).

-COD-

CODIFICATION

In subsec. (c), ''chapter 91 of title 31'', ''section 9101 of

title 31'', and ''section 9105(d) of title 31'' substituted for

''the Government Corporation Control Act (31 U.S.C. 841 et seq.)'',

''section 101 of such Act (31 U.S.C. 846)'', and ''the proviso in

section 850 of title 31, United States Code,'', respectively, on

authority of Pub. L. 97-258, Sec. 4(b), Sept. 13, 1982, 96 Stat.

1067, the first section of which enacted Title 31, Money and

Finance.

In subsec. (d), ''sections 9105 and 9106 of title 31''

substituted for ''sections 105 and 106 of the Government

Corporation Control Act (31 U.S.C. 850, 851)'' on authority of Pub.

L. 97-258, Sec. 4(b), Sept. 13, 1982, 96 Stat. 1067, the first

section of which enacted Title 31.

-MISC3-

AMENDMENTS

1980 - Subsec. (b)(6)(iv). Pub. L. 96-501, Sec. 8(a), added cl.

(iv).

Subsec. (b)(12). Pub. L. 96-501, Sec. 8(b), added par. (12).

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96-501 effective Dec. 5, 1980, see section

11 of Pub. L. 96-501, set out as an Effective Date note under

section 839 of this title.

-TRANS-

TRANSFER OF FUNCTIONS

''Secretary of Energy'' substituted for ''Secretary of the

Interior'' in subsec. (a) and ''Department of Energy'' substituted

for ''Department of Interior'' in subsec. (b)(11) pursuant to Pub.

L. 95-91, Sec. 302(a)(1)(D), which is classified to section

7152(a)(1)(D) of Title 42, The Public Health and Welfare.

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, with Bonneville Power

Administration to be preserved as a distinct organizational entity

within Department of Energy and headed by an Administrator.

-MISC5-

AUTHORITY TO INCUR OBLIGATIONS IN EXCESS OF BORROWING AUTHORITY AND

CASH IN FUND

Pub. L. 100-371, title III, July 19, 1988, 102 Stat. 869,

provided that: ''Without fiscal year limitation, the Bonneville

Power Administration continues to be authorized to incur

obligations for authorized purposes and may do so in excess of

borrowing authority and cash in the Bonneville Power Administration

Fund.''

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 838g, 838k, 839a, 839b,

839d, 839e of this title.

-CITE-

16 USC Sec. 838j 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838j. Investment of excess moneys; deposit of moneys

-STATUTE-

(a) If the Administrator determines that moneys in the fund are

in excess of current needs he may request the investment of such

amounts as he deems advisable by the Secretary of the Treasury in

direct, general obligations of, or obligations guaranteed as to

both principal and interest by, the United States of America.

(b) With the approval of the Secretary of the Treasury, the

Administrator may deposit moneys of the fund in any Federal Reserve

bank or other depository for funds of the United States of America,

or in such other banks and financial institutions and under such

terms and conditions as the Administrator and the Secretary of the

Treasury may mutually agree.

-SOURCE-

(Pub. L. 93-454, Sec. 12, Oct. 18, 1974, 88 Stat. 1380.)

-CITE-

16 USC Sec. 838k 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838k. Bonneville Power Administration bonds

-STATUTE-

(a) Issuance and sale; terms and conditions; interest rate;

limitation on aggregate principal amount outstanding

The Administrator is authorized to issue and sell to the

Secretary of the Treasury from time to time in the name and for and

on behalf of the Bonneville Power Administration bonds, notes, and

other evidences of indebtedness (in this chapter collectively

referred to as ''bonds'') to assist in financing the construction,

acquisition, and replacement of the transmission system, to

implement the Administrator's authority pursuant to the Pacific

Northwest Electric Power Planning and Conservation Act (16 U.S.C.

839 et seq.) (including his authority to provide financial

assistance for conservation measures, renewable resources, and fish

and wildlife, but not including the authority to acquire under

section 6 of that Act (16 U.S.C. 839d) electric power from a

generating facility having a planned capability greater than 50

average megawatts), and to issue and sell bonds to refund such

bonds. Such bonds shall be in such forms and denominations, bear

such maturities, and be subject to such terms and conditions as may

be prescribed by the Secretary of the Treasury taking into account

terms and conditions prevailing in the market for similar bonds,

the useful life of the facilities for which the bonds are issued,

and financing practices of the utility industry. Refunding

provisions may be prescribed by the Administrator. Such bonds shall

bear interest at a rate determined by the Secretary of the Treasury

taking into consideration the current average market yield on

outstanding marketable obligations of the United States of

comparable maturities, plus an amount in the judgment of the

Secretary of the Treasury to provide for a rate comparable to the

rates prevailing in the market for similar bonds issued by

Government corporations. Beginning in fiscal year 1982, if the

Administrator fails to repay by the end of any fiscal year all of

the amounts projected immediately prior to such year to be repaid

to the Treasury by the end of such year under the repayment

criteria of the Secretary of Energy and if such failure is due to

reasons other than (A) a decrease in power sale revenues due to

fluctuating streamflows or (B) other reasons beyond the control of

the Administrator, the Secretary of the Treasury may increase the

interest rate applicable to the outstanding bonds issued by the

Administrator during such fiscal year. Such increase shall be

effective commencing with the fiscal year immediately following the

fiscal year during which such failure occurred and shall not exceed

1 per centum for each such fiscal year during which such repayments

are not in accord with such criteria. The Secretary of the

Treasury shall take into account amounts that the Administrator has

repaid in advance of any repayment criteria in determining whether

to increase such rate. Before such rate is increased, the

Secretary of the Treasury, in consultation with the Administrator

and the Federal Energy Regulatory Commission, must be satisfied

that the Administrator will have the ability to pay such increased

rate, taking into account the Administrator's obligations. Such

increase shall terminate with the fiscal year in which repayments

(including repayments of the increased rate) are in accordance with

the repayment criteria of the Secretary of Energy. The aggregate

principal amount of any such bonds outstanding at any one time

shall not exceed $1,250,000,000 prior to October 1, 1981. Such

aggregate principal limitation shall be increased by an additional

$1,250,000,000 after October 1, 1981, as provided in advance in

annual appropriation Acts, and such increased amount shall be

reserved for the purpose of providing funds for conservation and

renewable resource loans and grants in a special revolving account

created therefor in the Fund. The funds from such revolving account

shall not be deemed State or local funds.

(b) Payment of principal, premiums, and interest from net proceeds;

''net proceeds'' defined

The principal of, premiums, if any, and interest on such bonds

shall be payable solely from the Administrator's net proceeds as

hereinafter defined. ''Net proceeds'' shall mean for the purposes

of this section the remainder of the Administrator's gross receipts

from all sources after first deducting trust funds and the costs

listed in section 838i(b)(2) through (b)(7), (b)(11), and (b)(12)

of this title, and shall include reserve or other funds created

from such receipts.

(c) Purchase and sale by Secretary of the Treasury; public debt

transactions

The Secretary of the Treasury shall purchase forthwith any bonds

issued by the Administrator under this chapter and for that purpose

is authorized to use as a public debt transaction the proceeds from

the sale of any securities issued under chapter 31 of title 31, as

now or hereafter in force, and the purposes for which securities

may be issued under chapter 31 of title 31, as now or hereafter in

force, are extended to include any purchases of the bonds issued by

the Administrator under this chapter. The Secretary of the

Treasury may, at any time, sell any of the bonds acquired by him

under this chapter. All redemptions, purchases, and sales by the

Secretary of the Treasury of such bonds shall be treated as public

debt transactions of the United States.

-SOURCE-

(Pub. L. 93-454, Sec. 13, Oct. 18, 1974, 88 Stat. 1380; Pub. L.

96-501, Sec. 8(c), (d), Dec. 5, 1980, 94 Stat. 2728, 2729.)

-REFTEXT-

REFERENCES IN TEXT

The Pacific Northwest Electric Power Planning and Conservation

Act, referred to in subsec. (a), is Pub. L. 96-501, Dec. 5, 1980,

94 Stat. 2697, which is classified principally to chapter 12H (Sec.

839 et seq.) of this title. For complete classification of this

Act to the Code, see Short Title note set out under section 839 of

this title and Tables.

-COD-

CODIFICATION

In subsec. (c), ''chapter 31 of title 31'' substituted for ''the

Second Liberty Bond Act'' on authority of Pub. L. 97-258, Sec.

4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which

enacted Title 31, Money and Finance.

-MISC3-

AMENDMENTS

1980 - Subsec. (a). Pub. L. 96-501, Sec. 8(d), inserted provision

relating to the implementation of the Administrator's authority

pursuant to the Pacific Northwest Electric Power Planning and

Conservation Act, inserted ''issued by Government corporations''

after ''rates prevailing in the market for similar bonds'',

increased the existing $1,250,000,000 aggregate principal

limitation by an additional $1,250,000,000 after Oct. 1, 1981, to

be used to provide funds for conservation and renewable resource

loans and grants in a special revolving account created for that

purpose, and inserted provision that, beginning in fiscal year

1982, if the Administrator fails to repay by the end of any fiscal

year all of the amounts projected immediately prior to that year to

be repaid to the Treasury by the end of that year under the

repayment criteria of the Secretary of Energy and if that failure

is due to reasons other than a decrease in power sale revenues due

to fluctuating streamflows or other reasons beyond the control of

the Administrator, the Secretary of the Treasury may increase the

interest rate applicable to the outstanding bonds issued by the

Administrator during that fiscal year.

Subsec. (b). Pub. L. 96-501, Sec. 8(c), substituted '', (b)(11),

and (b)(12) of this title,'' for ''and (b)(11) of this title,''.

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96-501 effective Dec. 5, 1980, see section

11 of Pub. L. 96-501, set out as an Effective Date note under

section 839 of this title.

-TRANS-

TRANSFER OF FUNCTIONS

Functions of Secretary of the Interior with respect to Bonneville

Power Administration transferred to Secretary of Energy by section

7152(a)(1)(D), (2) of Title 42, The Public Health and Welfare, with

Bonneville Power Administration to be preserved as a distinct

organizational entity within Department of Energy and headed by an

Administrator.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 838i, 838l, 839e of this

title; title 2 section 905.

-CITE-

16 USC Sec. 838l 01/06/03

-EXPCITE-

TITLE 16 - CONSERVATION

CHAPTER 12G - PACIFIC NORTHWEST FEDERAL TRANSMISSION SYSTEM

-HEAD-

Sec. 838l. Bonneville Power Administration refinancing

-STATUTE-

(a) Definitions

For the purposes of this section -

(1) ''Administrator'' means the Administrator of the Bonneville

Power Administration;

(2) ''capital investment'' means a capitalized cost funded by

Federal appropriations that -

(A) is for a project, facility, or separable unit or feature

of a project or facility;

(B) is a cost for which the Administrator is required by law

to establish rates to repay to the United States Treasury

through the sale of electric power, transmission, or other

services;

(C) excludes a Federal irrigation investment; and

(D) excludes an investment financed by the current revenues

of the Administrator or by bonds issued and sold, or authorized

to be issued and sold, by the Administrator under section 838k

of this title;

(3) ''new capital investment'' means a capital investment for a

project, facility, or separable unit or feature of a project or

facility, placed in service after September 30, 1996;

(4) ''old capital investment'' means a capital investment the

capitalized cost of which -

(A) was incurred, but not repaid, before October 1, 1996, and

(B) was for a project, facility, or separable unit or feature

of a project or facility, placed in service before October 1,

1996;

(5) ''repayment date'' means the end of the period within which

the Administrator's rates are to assure the repayment of the

principal amount of a capital investment; and

(6) ''Treasury rate'' means -

(A) for an old capital investment, a rate determined by the

Secretary of the Treasury, taking into consideration prevailing

market yields, during the month preceding October 1, 1996, on

outstanding interest-bearing obligations of the United States

with periods to maturity comparable to the period between

October 1, 1996, and the repayment date for the old capital

investment; and

(B) for a new capital investment, a rate determined by the

Secretary of the Treasury, taking into consideration prevailing

market yields, during the month preceding the beginning of the

fiscal year in which the related project, facility, or

separable unit or feature is placed in service, on outstanding

interest-bearing obligations of the United States with periods

to maturity comparable to the period between the beginning of

the fiscal year and the repayment date for the new capital

investment.

(b) New principal amounts

(1) Principal amount

Effective October 1, 1996, an old capital investment has a new

principal amount that is the sum of -

(A) the present value of the old payment amounts for the old

capital investment, calculated using a discount rate equal to

the Treasury rate for the old capital investment; and

(B) an amount equal to $100,000,000 multiplied by a fraction

whose numerator is the principal amount of the old payment

amounts for the old capital investment and whose denominator is

the sum of the principal amounts of the old payment amounts for

all old capital investments.

(2) Determination

With the approval of the Secretary of the Treasury based solely

on consistency with this section, the Administrator shall

determine the new principal amounts under subsection (b) of this

section and the assignment of interest rates to the new principal

amounts under subsection (c) of this section.

(3) Old payment amounts

For the purposes of this subsection, ''old payment amounts''

means, for an old capital investment, the annual interest and

principal that the Administrator would have paid to the United

States Treasury from October 1, 1996, if this section had not

been enacted, assuming that -

(A) the principal were repaid -

(i) on the repayment date the Administrator assigned before

October 1, 1994, to the old capital investment, or

(ii) with respect to an old capital investment for which

the Administrator has not assigned a repayment date before

October 1, 1994, on a repayment date the Administrator shall

assign to the old capital investment in accordance with

paragraph 10(d)(1) of the version of Department of Energy

Order RA 6120.2 in effect on October 1, 1994; and

(B) interest were paid -

(i) at the interest rate the Administrator assigned before

October 1, 1994, to the old capital investment, or

(ii) with respect to an old capital investment for which

the Administrator has not assigned an interest rate before

October 1, 1994, at a rate determined by the Secretary of the

Treasury, taking into consideration prevailing market yields,

during the month preceding the beginning of the fiscal year

in which the related project, facility, or separable unit or

feature is placed in service, on outstanding interest-bearing

obligations of the United States with periods to maturity

comparable to the period between the beginning of the fiscal

year and the repayment date for the old capital investment.

(c) Interest rate for new principal amounts

As of October 1, 1996, the unpaid balance on the new principal

amount established for an old capital investment under subsection

(b) of this section bears interest annually at the Treasury rate

for the old capital investment until the earlier of the date that

the new principal amount is repaid or the repayment date for the

new principal amount.

(d) Repayment dates

As of October 1, 1996, the repayment date for the new principal

amount established for an old capital investment under subsection

(b) of this section is no earlier than the repayment date for the

old capital investment assumed in subsection (b)(3)(A) of this

section.

(e) Prepayment limitations

During the period October 1, 1996, through September 30, 2001,

the total new principal amounts of old capital investments, as

established under subsection (b) of this section, that the

Administrator may pay before their respective repayment dates shall

not exceed $100,000,000.

(f) Interest rates for new capital investments during construction

(1) New capital investment

The principal amount of a new capital investment includes

interest in each fiscal year of construction of the related

project, facility, or separable unit or feature at a rate equal

to the one-year rate for the fiscal year on the sum of -

(A) construction expenditures that were made from the date

construction commenced through the end of the fiscal year, and

(B) accrued interest during construction.

(2) Payment

The Administrator is not required to pay, during construction

of the project, facility, or separable unit or feature, the

interest calculated, accrued, and capitalized under subsection

(f)(1) of this section.

(3) One-year rate

For the purposes of this section, ''one-year rate'' for a

fiscal year means a rate determined by the Secretary of the

Treasury, taking into consideration prevailing market yields,

during the month preceding the beginning of the fiscal year, on

outstanding interest-bearing obligations of the United States

with periods to maturity of approximately one year.

(g) Interest rates for new capital investments

The unpaid balance on the principal amount of a new capital

investment bears interest at the Treasury rate for the new capital

investment from the date the related project, facility, or

separable unit or feature is placed in service until the earlier of

the date the new capital investment is repaid or the repayment date

for the new capital investment.

(h) Omitted

(i) Contract provisions

In each contract of the Administrator that provides for the

Administrator to sell electric power, transmission, or related

services, and that is in effect after September 30, 1996, the

Administrator shall offer to include, or as the case may be, shall

offer to amend to include, provisions specifying that after

September 30, 1996 -

(1) the Administrator shall establish rates and charges on the

basis that -

(A) the principal amount of an old capital investment shall

be no greater than the new principal amount established under

subsection (b) of this section;

(B) the interest rate applicable to the unpaid balance of the

new principal amount of an old capital investment shall be no

greater than the interest rate established under subsection (c)

of this section;

(C) any payment of principal of an old capital investment

shall reduce the outstanding principal balance of the old

capital investment in the amount of the payment at the time the

payment is tendered; and

(D) any payment of interest on the unpaid balance of the new

principal amount of an old capital investment shall be a credit

against the appropriate interest account in the amount of the

payment at the time the payment is tendered;

(2) apart from charges necessary to repay the new principal

amount of an old capital investment as established under

subsection (b) of this section and to pay the interest on the

principal amount under subsection (c) of this section, no amount

may be charged for return to the United States Treasury as

repayment for or return on an old capital investment, whether by

way of rate, rent, lease payment, assessment, user charge, or any

other fee;

(3) amounts provided under section 1304 of title 31 shall be

available to pay, and shall be the sole source for payment of, a

judgment against or settlement by the Administrator or the United

States on a claim for a breach of the contract provisions

required by this Part; (FOOTNOTE 1) and

(FOOTNOTE 1) So in original. Probably should be ''section;'' or

''section''.

(4) the contract provisions specified in this Part (FOOTNOTE 1)

do not -

(A) preclude the Administrator from recovering, through rates

or other means, any tax that is generally imposed on electric

utilities in the United States, or

(B) affect the Administrator's authority under applicable

law, including section 839e(g) of this title, to -

(i) allocate costs and benefits, including but not limited

to fish and wildlife costs, to rates or resources, or

(ii) design rates.

(j) Savings provisions

(1) Repayment

This section does not affect the obligation of the

Administrator to repay the principal associated with each capital

investment, and to pay interest on the principal, only from the

''Administrator's net proceeds,'' as defined in section 838k(b)

of this title.

(2) Payment of capital investment

Except as provided in subsection (e) of this section, this

section does not affect the authority of the Administrator to pay

all or a portion of the principal amount associated with a

capital investment before the repayment date for the principal

amount.

-SOURCE-

(Pub. L. 104-134, title III, Sec. 3201, Apr. 26, 1996, 110 Stat.

1321-350.)

-COD-

CODIFICATION

Section was enacted as part of the Omnibus Consolidated

Recissions and Appropriations Act of 1996, and not as part of the

Federal Columbia River Transmission System Act which comprises this

chapter.

Section is comprised of section 3201 of Pub. L. 104-134. Subsec.

(h) of section 3201 of Pub. L. 104-134 amended section 6 of Pub. L.

103-436, which is not classified to the Code.

-CITE-