Directs the Secretary of the Interior to enter into and complete negotiations with the city of Corpus Christi, Texas, on a specified loan contract which concerns the Nueces River water project, Texas.
Requires the Secretary to discount the remaining Federal debt obligation under the contract based on the actual water yield to the city from the project.
Authorizes the Secretary, on payment of a specified amount, to transfer title for the project to local sponsors of the project.
Introduced in Senate
Read twice and referred to the Committee on Energy and Natural Resources.
Referred to Subcommittee on Water and Power.
Subcommittee on Forests and Public Lands. Hearings held. Hearings printed: S.Hrg. 103-943.
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