Nevada § 538.020 - Election of Nevada to receive commutation payments in lieu of other payments under Boulder Canyon Project Act

§ 538.020. Election of Nevada to receive commutation payments in lieu of other payments under Boulder Canyon Project Act

1. If the Congress shall enact legislation authorizing payments to be made to the

State of Nevada, conforming to the requirements of subsection 2, upon the election

of the State of Nevada to receive the same in commutation and in lieu of the payments

now provided for this state in section 4(b) of the Boulder Canyon Project Act, the

State of Nevada does hereby elect to receive such payments conforming to the requirements

of subsection 2, in commutation and in lieu of the payments to it, so provided for

in the Boulder Canyon Project Act. 2. The foregoing election is made upon the condition that the congressional legislation

shall provide for payments to be made to the State of Nevada in the definite and fixed

sum of $300,000 for each year of operation (June 1 to May 31) of the Boulder Dam and

power plant during the period of not less than 50 years of operation beginning with

the year of operation ending May 31, 1938, and continuing annually thereafter until

and including the year of operation ending May 31, 1987, and for such further time,

if any, as may be provided for in such proposed congressional legislation, each such

annual payment to be due and payable before June 30 immediately following the close

of the year of operation for which it is made. The payment for the years of operation ending May 31, 1938, and May 31, 1939, shall

be due and payable on June 30, 1939, and shall be made as soon thereafter as administration

of such congressional legislation will permit; and each such annual payment shall

be made annually thereafter at such times as shall be provided for in the proposed

act of the Congress. All payments shall be subject to such adjustments as may be prescribed by such congressional

legislation, in the event that any such payments cannot be made, either in whole or

in part, by reason of failure of revenues received by the United States from the operation

of Boulder Dam and incidental works and power plant, due to any act of God, or of

the public enemy, or any major catastrophe or any other unforeseen and unavoidable

cause. 3. The Attorney General of Nevada is hereby authorized and empowered upon the enactment

of such congressional legislation to determine whether or not there is substantial

conformity between the provisions thereof and the provisions of this section, and

to certify such determination to the Governor, who shall proclaim the same. Upon the filing of a copy of such proclamation with the Secretary of the Interior,

the election hereby made shall become final and complete. 4. Since an emergency exists therefor, this section shall become effective immediately

upon the effective date of such congressional legislation; but if the Congress shall

not enact such legislation, then the enactment of this section shall not be deemed

to waive or diminish any right or rights of the State of Nevada under the Boulder

Canyon Project Act, and contracts made thereunder. 5. This section is hereby declared to be the appropriate and the only appropriate

legislative action of this state for the purpose of accomplishing the election by

the state to receive and accept the commutation provided for in this section and required

by the proposed congressional legislation to make such commutation effective.