Us Code § 501 - Disposition of profits of project taken over by water users
Full text of Us Code United States Code § 501 — Disposition of profits of project taken over by water users, with citation guidance and answers to common questions.
§ 501. Disposition of profits of project taken over by water users
Whenever the water users take over the care, operation, and maintenance of a project, or a division of a project, the total accumulated net profits, as determined by the Secretary, derived from the operation of project power plants, leasing of project grazing and farm lands, and the sale or use of town sites shall be credited to the construction charge of the project, or a division thereof, and thereafter the net profits from such sources may be used by the water users to be credited annually, first, on account of project construction charge, second, on account of project operation and maintenance charge, and third, as the water users may direct. No distribution to individual water users shall be made out of any such profits before all obligations to the Government shall have been fully paid.
(Dec. 5, 1924, ch. 4, §4, subsec. I, 43 Stat. 703.)
Statutory Notes and Related Subsidiaries
Definitions
The definitions in section 371 of this title apply to this section.
About This Section
43 U.S.C. § 501 is part of Title 43 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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