Nevada § 538.191 - Colorado River Commission Fund; Colorado River Research and Development Account

§ 538.191. Colorado River Commission Fund; Colorado River Research and Development Account

1. Except as otherwise provided in the covenants of bonds issued by the State of Nevada

and as provided in subsection 2, all revenues derived from the sale, lease or use

of water or power which become due to the State of Nevada pursuant to any lease, contract

or sale, or otherwise, of water or power obtained from the Colorado River power and

water system, and from other sources, must be deposited with the State Treasurer for

credit to the Colorado River Commission Fund which is hereby created as a special

revenue fund. The interest and income earned on the money in the Fund, after deducting any applicable

charges, must be credited to the Fund. 2. There is hereby created the Colorado River Research and Development Account in

the Colorado River Commission Fund for the purpose of defraying the costs of engineering

studies, analysis, negotiation and such other efforts as are, in the opinion of the

Commission, necessary and proper for the protection of the interests of this state

in the development and acquisition of sources of water and power along and related

to the Colorado River and elsewhere. The charge for water and power included in any lease or contract executed after April

18, 1963, between the Commission and water or power users must be sufficient in amount

to maintain the Colorado River Research and Development Account in addition to defraying

the cost to the Commission of water and power delivered. When collected, these additional revenues must be deposited with the State Treasurer

for credit to the Account. The interest and income earned on the money in the Account, after deducting any applicable

charges, must be credited to the Account. 3. Money in the Fund and Account provided for in this section must be paid out on

claims as other claims against the State are paid, after the claims have been approved

by the Commission.