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1935 House of Representatives

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1935 House of Representatives 1935 CONGRESSIONAL RECORD-HOUSE 585 is authorized, set forth, and provided for in said Central Valley HOUSE OF REPRESENTATIVES project act of 1933, and hereinafter referred to as "project." SEC. 3. The Secretary of the Interior and the Secretary of War THURSDAY, JANUARY 17, 1935 shall have and exercise joint power and authority in administer­ ing this act. The House met at 12 o'clock noon. SEC. 4. The said Secretary of the Interior and the said Secretary Rev. James Shera Montgomery, D. D., offered the following of War shall authorize and approve all expenditures to be made prayer: under this act; shall approve any and all plans and specifications for the construction of said Central Valley project; shall exercise Blessing and honor, glory and power be unto Him who general supervision and control over the construction of said sitteth upon the throne forever and ever. Before Him we project to the extent necessary to insure substantial compliance with the approved plans and specifications; shall approve all con­ would bow down and bare our souls that we might receive tracts entered into by said water project authority for the sale, the gifts of mercy and comfort. Al.mighty God, rouse us to use, or disposal of water and electric energy or other facilities the contemplation of things eternal and let their currents to be made available by the operation of said project as to their sufficiency in matters of both form and substance, and shall have keep our souls in motion. To every fear Thou dost give a and exercise such incidental powers as may be necessary or appro­ promise, and to every prodigal doubt Thou dost offer assur­ priate to insure the proper application of the funds made avail­ ance. To any who may be in the gloom, with fitful and able hereunder and to protect properly the interests of the uncertain glimpses through the clouds and without a smiling United States in the premises. Upon the completion of construc­ tion of said project and the repayment to the fund hereinafter future, do Thou steady and stay their faith in divine sov­ created of all moneys loaned to said water project authority, for ereignty which will never terminate until the throne of God the repayment of which provision is made in this act, together itself crumbles. Bless our homes, merciful Father, and may with interest thereon as herein provided, and the transfer of they ever be the very gates to Heaven. In the name of ow· said moneys so loaned, together with interest, into the United States Treasury, all powers, duties, and functions created and Redeemer. Amen. · established by this act shall cease and terminate. SEC. 5. (a) There is hereby established a special fund, to be The J oumal of the proceedings of yesterday was read and known as "Central Valley project fund" (hereinafter referred to approved. as the " fund "), and to be available, as hereinafter provided only CENTRAL VALLEY PROJECT, CALIFORNIA for carrying out the provisions of this act. All payments or advances to said water project authority, and all moneys received Mr. STUBBS. Mr. Speaker, I ask unanimous consent to therefrom, in carrying out the provisions of this act, shall be extend my own remarks in the RECORD and to include therein made from, or received into said fund, under the direction of the Secretary of Interior and the Secretary of War. a copy of a bill I have introduced for the construction of the (b) The Secretary of the Treasury is authorized to advance to Central Valley project in California. the fund for the use of and expenditure of said water project The SPEAKER. Is there objection to the request of the authority, from time to time and within the appropriations there­ gentleman from California? for, such amounts as the Secretary of the Interior and the Sec­ retary of War shall certify to be necessary to meet the require­ There was no objection. ments for funds of the construction program of the said water Mr. STUBBS. Mr. Speaker, late in the last Congress I project authority, except that the aggregate amount of such ad­ appeared before the House and served notice that, at the vances shall not exceed the said sum of $170,000,000, the appro­ priation whereof is herein authorized. opening of the current session, I would bring to the atten­ Of the total amount herein authorized to be appropriated, tion of the Congress the great need for early construction $38,000,000 thereof is hereby allocated as a direct grant to said activities on the Central Valley project in California, a water project authority and shall be used and applied toward de­ project designed to protect and preserve the social and eco­ fraying the cost of the necessary labor and materials entering into the cost of the construction of said projects; $12,000,000 thereof is nomic status of a great inland nation. Today, in keeping hereby allocated as a special and direct contribution to and partici­ with that earlier statement and a later promise to my peo­ pation in the cost of construction of the Kennett Dam of said proj­ ple, I am introducing a bill which calls for a congressional ect on account of the general and Federal benefits from the con­ struction of said dam to navigation, flood control, and salinity appropriation of $170,000,000 for construction of the Cen­ control, in accordance with the report of the Chief of Engineers of tral Valley project. The bill is designed to provide Federal the War Department dated April 6, 1934, and contained in House of financial assistance for the project with supervision under Representatives Document No. 35, Seventy-third Congress, second a water project authority created by the California State session, and shall be used and applied toward defraying the cost of construction of said Kennett Dam; both of which sums, constitut­ Legislature and later approved by the people of California ing in the aggregate $50,000,000, shall be made available to said in a special election. water project authority for the uses and purposes of this act, and As a matter of record, I desire herewith to present the in the manner herein provided and subject to the provisions of this bill which I have introduced, and to offer you a preliminary act, without necessity of or provision for repayment or reimburse­ ment to said fund or to the Treasury of the United States; the statement showing the practicability of the project, its need remaining sum of not to exceed $120,000,000 shall be allocated and as a social agency, and its feasibility from an engineering made available to said water project authority as a loan, to be standpoint. Before going further, let me add that the repaid to said fund over. a period of 40 years commencing with the tenth year after beginning of construction of said project, and to project is a self-liquidating one, and the cost will be borne bear interest at the rate of 4 percent per annum. As security for by those who benefit from it. such repayment, the Secretary of the Interior and the Secretary of A BILL War are authorized and empower.ed to accept and receive the reve­ nue bonds of said water project authority, or may purchase such Be it enacted, etc., That for the purpose of improvement of revenue bonds, and may execute such contract or contracts with navigation on the Sacramento and San Joaquin Rivers in the said water project authority as may be necessary, expedient, or State of California; to control destructive flood waters in said advisable in order to protect the interests of the United States, and Sacramento and San Joaquin River Basins; to aid and improve may supervise and approve the operation and maintenance of said agriculture and industry within said basins; to provide for the Central Valley project so long as said loan or any part thereof shall generation of electrical energy as a means of making the project remain unpaid. The Secretary of the Interior and the Secretary of hereinafter referred to a self-supporting and financially solvent War may dispose of any such bonds so received to p~blic or private undertaking; to provide for the economic and social well-being of agencies or entities on such terms as they may deem and find the people of the State of California, and for other beneficial advantageous. purposes, there is hereby authorized to be appropriated from time (c) Moneys in the fund advanced under subdivision (b) shall to time out of any money in the United States Treasury not be available only for expenditures for construction, and for the otherwise appropriated, such sums of money as may be neces.sary payment of interest during construction and for 1 year there­ to carry out the purposes of this act, not exceeding in the aggre­ after, on any amounts loaned as herein provided; Provided, That gate the sum of $170,000,000. any amount loaned a.s herein authorized may be expended by SEC. 2. All moneys authorized to be appropriated by this act said Water Project Authority for any purpose authorized by said shall be made available as herein provided for expenditure by the Central Valley Project Act. Water Project Authority, a body politic and corporate, created in (d) The Secretary of the Treasury shall charge the fund as and by an act of the Legislature of the State of California passed of June 30, in each year, with such amount as may be necessary and adopted at the legislative session of 1933, and designated the for the payment of interest on any loan, or portion thereof, made Central Valley project act of 1933 (ch.
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