16 U.S. Code § 825s–1 - Southwestern area sale and transmission of electric power; disposition of receipts; creation of continuing fund; use of fund
All receipts from the transmission and sale of electric power and energy under the provisions of section 825s of this title, generated or purchased in the southwestern power area, shall be covered into the Treasury of the United States as miscellaneous receipts, except that the Treasury shall set up and maintain from such receipts a continuing fund of $300,000, including the sum of $100,000 in the continuing fund established under the Administrator of the Southwestern Power Administration in the First Supplemental National Defense Appropriation Act, 1944 (57 Stat. 621), which shall be transferred to the fund established; and said fund of $300,000 shall be placed to the credit of the Secretary and shall be subject to check by him to defray emergency expenses necessary to insure continuity of electric service and continuous operation of the facilities, and to cover all costs in connection with the purchase of electric power and energy and rentals for the use of facilities for the transmission and distribution of electric power and energy to public bodies, cooperatives, and privately owned companies: Provided, That expenditures from this fund to cover such costs in connection with the purchase of electric power and energy and rentals for the use of facilities are to be made only in such amounts as may be approved annually in appropriation Acts.
Source(Oct. 12, 1949, ch. 680, title I, § 101,63 Stat. 767; Aug. 31, 1951, ch. 375, title I, § 101,65 Stat. 249.)
References in Text
The First Supplemental National Defense Appropriation Act, 1944, referred to in text, was act Dec. 23, 1943, ch. 380, title I, § 101,57 Stat. 621, which was not classified to the Code.
Section was not enacted as part of the Federal Power Act which generally comprises this chapter.
Section as originally enacted contained a provision relating to maximum expenditures for the fiscal year 1952.
1951—Act Aug. 31, 1951, inserted proviso.
Use of Fund To Pay for Purchase Power and Wheeling Expenses To Meet Contractual Obligations During Periods of Below-Average Hydropower Generation
Pub. L. 101–101, title III, Sept. 29, 1989, 103 Stat. 660, provided: “That the continuing fund established by the Act of October 12, 1949, c. 680, title I, section 101, as amended [16 U.S.C. 825s–1], shall also be available on an ongoing basis for paying for purchase power and wheeling expenses when the Administrator determines that such expenditures are necessary to meet contractual obligations for the sale and delivery of power during periods of below-average hydropower generation. Payments from the continuing fund shall be limited to the amount required to replace the generation deficiency, and only for the project where the deficiency occurred. Replenishment of the fund shall occur within twelve months of the month in which the funds were first expended.”