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16 U.S.C. § 838k — Bonneville Power Administration bonds
Federal law — U.S. Code and appendices · legal_authorities
**(a) Issuance and sale; terms and conditions; interest rate; limitation on aggregate principal amount outstanding** The Administrator is authorized to issue and sell to the Secretary of the Treasury from time to time in the name and for and on behalf of the Bonneville Power Administration bonds, notes, and other evidences of indebtedness (in this chapter collectively referred to as “bonds”) to assist in financing the construction, acquisition, and replacement of the transmission system, to implement the Administrator’s authority pursuant to the Pacific Northwest Electric Power Planning and Conservation Act [[16 U.S.C. 839](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section839&num=0&edition=prelim) et seq.] (including his authority to provide financial assistance for conservation measures, renewable resources, and fish and wildlife, but not including the authority to acquire under section 6 of that Act [[16 U.S.C. 839d](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section839d&num=0&edition=prelim)] electric power from a generating facility having a planned capability greater than 50 average megawatts), and to issue and sell bonds to refund such bonds. Such bonds shall be in such forms and denominations, bear such maturities, and be subject to such terms and conditions as may be prescribed by the Secretary of the Treasury taking into account terms and conditions prevailing in the market for similar bonds, the useful life of the facilities for which the bonds are issued, and financing practices of the utility industry. Refunding provisions may be prescribed by the Administrator. Such bonds shall bear interest at a rate determined by the Secretary of the Treasury taking into consideration the current average market yield on
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Source file: Laws/federal/codes/united-states-code/title-16/section-838k-bonneville-power-administration-bonds--5cfd59db8a.md
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Source location: Title 16, Chapter 12G, § 838k; chapter-12g-pacific-northwest-federal-transmission-system.md
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**(a) Issuance and sale; terms and conditions; interest rate; limitation on aggregate principal amount outstanding** The Administrator is authorized to issue and sell to the Secretary of the Treasury from time to time in the name and for and on behalf of the Bonneville Power Administration bonds, notes, and other evidences of indebtedness (in this chapter collectively referred to as “bonds”) to assist in financing the construction, acquisition, and replacement of the transmission system, to implement the Administrator’s authority pursuant to the Pacific Northwest Electric Power Planning and Conservation Act [[16 U.S.C. 839](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section839&num=0&edition=prelim) et seq.] (including his authority to provide financial assistance for conservation measures, renewable resources, and fish and wildlife, but not including the authority to acquire under section 6 of that Act [[16 U.S.C. 839d](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section839d&num=0&edition=prelim)] electric power from a generating facility having a planned capability greater than 50 average megawatts), and to issue and sell bonds to refund such bonds. Such bonds shall be in such forms and denominations, bear such maturities, and be subject to such terms and conditions as may be prescribed by the Secretary of the Treasury taking into account terms and conditions prevailing in the market for similar bonds, the useful life of the facilities for which the bonds are issued, and financing practices of the utility industry. Refunding provisions may be prescribed by the Administrator. Such bonds shall bear interest at a rate determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturities, plus an amount in the judgment of the Secretary of the Treasury to provide for a rate comparable to the rates prevailing in the market for similar bonds issued by Government corporations. Beginning in fiscal year 1982, if the Administrator fails to repay by the end of any fiscal year all of the amounts projected immediately prior to such year to be repaid to the Treasury by the end of such year under the repayment criteria of the Secretary of Energy and if such failure is due to reasons other than (A) a decrease in power sale revenues due to fluctuating streamflows or (B) other reasons beyond the control of the Administrator, the Secretary of the Treasury may increase the interest rate applicable to the outstanding bonds issued by the Administrator during such fiscal year. Such increase shall be effective commencing with the fiscal year immediately following the fiscal year during which such failure occurred and shall not exceed 1 per centum for each such fiscal year during which such repayments are not in accord with such criteria. The Secretary of the Treasury shall take into account amounts that the Administrator has repaid in advance of any repayment criteria in determining whether to increase such rate. Before such rate is increased, the Secretary of the Treasury, in consultation with the Administrator and the Federal Energy Regulatory Commission, must be satisfied that the Administrator will have the ability to pay such increased rate, taking into account the Administrator’s obligations. Such increase shall terminate with the fiscal year in which repayments (including repayments of the increased rate) are in accordance with the repayment criteria of the Secretary of Energy. The aggregate principal amount of any such bonds outstanding at any one time shall not exceed $1,250,000,000 prior to October 1, 1981. Such aggregate principal limitation shall be increased by an additional $1,250,000,000 after October 1, 1981, as provided in advance in annual appropriation Acts, and such increased amount shall be reserved for the purpose of providing funds for conservation and renewable resource loans and grants in a special revolving account created therefor in the Fund. The funds from such revolving account shall not be deemed State or local funds.
**(b) Payment of principal, premiums, and interest from net proceeds; “net proceeds” defined** The principal of, premiums, if any, and interest on such bonds shall be payable solely from the Administrator’s net proceeds as hereinafter defined. “Net proceeds” shall mean for the purposes of this section the remainder of the Administrator’s gross receipts from all sources after first deducting trust funds and the costs listed in section 838i(b)(2) through (b)(7), (b)(11), and (b)(12) of this title, and shall include reserve or other funds created from such receipts.
**(c) Purchase and sale by Secretary of the Treasury; public debt transactions** The Secretary of the Treasury shall purchase forthwith any bonds issued by the Administrator under this chapter and for that purpose is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under chapter 31 of title 31, as now or hereafter in force, and the purposes for which securities may be issued under chapter 31 of title 31, as now or hereafter in force, are extended to include any purchases of the bonds issued by the Administrator under this chapter. The Secretary of the Treasury may, at any time, sell any of the bonds acquired by him under this chapter. All redemptions, purchases, and sales by the Secretary of the Treasury of such bonds shall be treated as public debt transactions of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
The purposes of this chapter, together with the provisions of other laws applicable to the Federal Columbia River Power System, are all intended to be construed in a consistent manner. Such purposes are also intended to be construed in a manner consistent with applicable environmental laws. Such purposes are:
(1) to encourage, through the unique opportunity provided by the Federal Columbia River Power System—
(A) conservation and efficiency in the use of electric power, and
(B) the development of renewable resources within the Pacific Northwest;
(2) to assure the Pacific Northwest of an adequate, efficient, economical, and reliable power supply;
(3) to provide for the participation and consultation of the Pacific Northwest States, local governments, consumers, customers, users of the Columbia River System (including Federal and State fish and wildlife agencies and appropriate Indian tribes), and the public at large within the region in—
(A) the development of regional plans and programs related to energy conservation, renewable resources, other resources, and protecting, mitigating and enhancing fish and wildlife resources,
(B) facilitating the orderly planning of the region’s power system, and
(C) providing environmental quality;
(4) to provide that the customers of the Bonneville Power Administration and their consumers continue to pay all costs necessary to produce, transmit, and conserve resources to meet the region’s electric power requirements, including the amortization on a current basis of the Federal investment in the Federal Columbia River Power System;
(5) to insure, subject to the provisions of this chapter—
(A) that the authorities and responsibilities of State and local governments, electric utility systems, water management agencie
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 839
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Conservation measures; resources**
(1) The Administrator shall acquire such resources through conservation, implement all such conservation measures, and acquire such renewable resources which are installed by a residential or small commercial consumer to reduce load, as the Administrator determines are consistent with the plan, or if no plan is in effect with the criteria of [section 839b(e)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section839b/e/1&num=0&edition=prelim) and the considerations of [section 839b(e)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section839b/e/2&num=0&edition=prelim) and, in the case of major resources, in accordance with subsection (c) of this section. Such conservation measures and such resources may include, but are not limited to—
(A) loans and grants to consumers for insulation or weatherization, increased system efficiency, and waste energy recovery by direct application,
(B) technical and financial assistance to, and other cooperation with, the Administrator’s customers and governmental authorities to encourage maximum cost-effective voluntary conservation and the attainment of any cost-effective conservation objectives adopted by individual States or subdivisions thereof,
(C) aiding the Administrator’s customers and governmental authorities in implementing model conservation standards adopted pursuant to [section 839b(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section839b/f&num=0&edition=prelim), and
(D) conducting demonstration projects to determine the cost effectiveness of conservation measures and direct application of renewable energy resources.
(2) In addition to acquiring electri
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 839d
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** For the purposes of this section—
(1) “Administrator” means the Administrator of the Bonneville Power Administration;
(2) “capital investment” means a capitalized cost funded by Federal appropriations that—
(A) is for a project, facility, or separable unit or feature of a project or facility;
(B) is a cost for which the Administrator is required by law to establish rates to repay to the United States Treasury through the sale of electric power, transmission, or other services;
(C) excludes a Federal irrigation investment; and
(D) excludes an investment financed by the current revenues of the Administrator or by bonds issued and sold, or authorized to be issued and sold, by the Administrator under [section 838k of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section838k&num=0&edition=prelim);
(3) “new capital investment” means a capital investment for a project, facility, or separable unit or feature of a project or facility, placed in service after September 30, 1996;
(4) “old capital investment” means a capital investment the capitalized cost of which—
(A) was incurred, but not repaid, before October 1, 1996, and
(B) was for a project, facility, or separable unit or feature of a project or facility, placed in service before October 1, 1996;
(5) “repayment date” means the end of the period within which the Administrator’s rates are to assure the repayment of the principal amount of a capital investment; and
(6) “Treasury rate” means—
(A) for an old capital investment, a rate determined by the Secretary of the Treasury, taking into consideration prevailing market yields, during the month preceding October 1, 1996, on outstanding interest-bearing obligations of the United States with period
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 838l
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment; periodic review and revision; confirmation and approval by Federal Energy Regulatory Commission**
(1) The Administrator shall establish, and periodically review and revise, rates for the sale and disposition of electric energy and capacity and for the transmission of non-Federal power. Such rates shall be established and, as appropriate, revised to recover, in accordance with sound business principles, the costs associated with the acquisition, conservation, and transmission of electric power, including the amortization of the Federal investment in the Federal Columbia River Power System (including irrigation costs required to be repaid out of power revenues) over a reasonable period of years and the other costs and expenses incurred by the Administrator pursuant to this chapter and other provisions of law. Such rates shall be established in accordance with sections 9 and 10 of the Federal Columbia River Transmission System Act ([16 U.S.C. 838](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section838&num=0&edition=prelim)) [[16 U.S.C. 838g](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section838g&num=0&edition=prelim) and 838h], section 5 of the Flood Control Act of 1944 [[16 U.S.C. 825s](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section825s&num=0&edition=prelim)], and the provisions of this chapter.
(2) Rates established under this section shall become effective only, except in the case of interim rules as provided in subsection (i)(6), upon confirmation and approval by the Federal Energy Regulatory Commission upon a finding by the Commission, that such rates—
(A) are sufficient to assure repayment of the Federal investment in the Federal Columbia River Power System over
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 839e
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Social security benefits and tier I railroad retirement benefits** Benefits payable under the old-age, survivors, and disability insurance program established under title II of the Social Security Act ([42 U.S.C. 401](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section401&num=0&edition=prelim) et seq.), and benefits payable under sections 231b and 231c 11 See References in Text note below. of title 45, shall be exempt from reduction under any order issued under this subchapter.
**(b) Veterans programs** The following programs shall be exempt from reduction under any order issued under this subchapter: All programs administered by the Department of Veterans Affairs. Special benefits for certain World War II veterans (28–0401–0–1–701).
**(c) Net interest** No reduction of payments for net interest (all of major functional category 900) shall be made under any order issued under this subchapter.
**(d) Refundable income tax credits and certain elective payments**
(1) **Refundable income tax credits** — Payments to individuals made pursuant to provisions of title 26 establishing refundable tax credits shall be exempt from reduction under any order issued under this subchapter.
(2) **Certain elective payments** — Payments made to taxpayers pursuant to elections under subsection (d) of [section 48D of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section48D&num=0&edition=prelim), or amounts treated as payments which are made by taxpayers under paragraph (1) of such subsection, shall be exempt from reduction under any order issued under this subchapter.
**(e) Non-defense unobligated balances** Unobligated balances of budget authority carried over from prior fiscal years, except balances in the defense categor
Source: Supplied U.S. Code snapshot — release unconfirmed · 2 U.S.C. § 905
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Federal law — U.S. Code and appendices · legal_authorities
Page 1514
TITLE 16—CONSERVATION
§ 838j
ergy’’ substituted for ‘‘Department of Interior’’ in sub-
sec. (b)(11) pursuant to Pub. L. 95–91, § 302(a)(1)(D),
which is classified to section 7152(a)(1)(D) of Title 42,
The Public Health and Welfare.
Functions of Secretary of the Interior with respect to
Bonneville Power Administration transferred to Sec-
retary of Energy by section 7152(a)(1)(D), (2) of Title 42,
with Bonneville Power Administration to be preserved
as a distinct organizational entity within Department
of Energy and headed by an Administrator.
BONNEVILLE POWER ADMINISTRATION FUND: STATE
CLEAN ENERGY PROGRAMS
Pub. L. 116–94, div. C, title III, Dec. 20, 2019, 133 Stat.
2675, provided in part that: ‘‘Expenditures from the
Bonneville Power Administration Fund, established
pursuant to Public Law 93–454 are authorized and ap-
proved, without fiscal year limitation, for the cost of
current and future year purchases or payments of emis-
sions expenses associated with Bonneville Power Ad-
ministration power and transmission operations in
states with clean energy programs: Provided further,
This expenditure authorization is limited solely to
Bonneville Power Administration’s voluntary purchase
or payments made in conjunction with state clean en-
ergy programs and is not a broader waiver of Bonne-
ville Power Administration’s sovereign immunity.’’
AUTHORITY TO INCUR OBLIGATIONS IN EXCESS OF
BORROWING AUTHORITY AND CASH IN FUND
Pub. L. 100–371, title III, July 19, 1988, 102 Stat. 869,
provided that: ‘‘Without fiscal year limitation, the
Bonneville Power Administration continues to be au-
thorized to incur obligations for authorized purposes
and may do so in excess of borrowing authority and
cash in the Bonneville Power Administration Fund.’’
§ 838j.
Source: Supplied 2024 U.S. Code historical extraction · 16 U.S.C. § 838k
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 1519
TITLE 16—CONSERVATION
§ 839
1 So in original. The word ‘‘the’’ probably should not appear.
value to the Pacific Northwest of increasing
the coordination of the operation of hydro-
electric and water storage facilities on rivers
located in the United States and Canada.
(2) Criteria
The study conducted under paragraph (1)
shall analyze—
(A) projected changes to the Pacific North-
west electricity supply;
(B) potential reductions in greenhouse gas
emissions;
(C) any potential need to increase trans-
mission capacity; and
(D) any other factor the Administrator
considers to be relevant for increasing bilat-
eral coordination.
(3) Coordination
In conducting the study under paragraph (1),
the Administrator shall coordinate, to the ex-
tent practicable, with—
(A) the 1 British Columbia or a crown cor-
poration owned by British Columbia;
(B) the Assistant Secretary;
(C) the Commissioner of Reclamation; and
(D) any public utility districts that oper-
ate hydroelectric projects on the mainstem
of the Columbia River.
(4) Authorization of appropriations
There is authorized to be appropriated
$10,000,000, which shall be nonreimburseable,
to carry out this subsection.
(Pub. L. 117–58, div. D, title I, § 40113, Nov. 15,
2021, 135 Stat. 947.)
Editorial Notes
CODIFICATION
Section was enacted as part of the Infrastructure In-
vestment and Jobs Act, and not as part of the Federal
Columbia River Transmission System Act which com-
prises this chapter.
Statutory Notes and Related Subsidiaries
WAGE RATE REQUIREMENTS
For provisions relating to rates of wages to be paid to
laborers and mechanics on projects for construction,
alteration, or repair work funded under div. D or an
amendment by div. D of Pub. L. 117–58, including au-
thority of Secretary of L
Source: Supplied 2024 U.S. Code historical extraction · 16 U.S.C. § 839
Stored review status: historical_2024_not_currentness_verified. The source passage cites 16 U.S.C. § 839. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1532
TITLE 16—CONSERVATION
§ 839d
ferred to in clause (i) whenever the Adminis-
trator determines that such customer is receiv-
ing electric power pursuant to a contract re-
ferred to in such clause (ii).
(e) Contractual entitlements to firm power
(1) The contractual entitlement to firm power
of any customer from whom, or on whose behalf,
the Administrator has acquired electric power
pursuant to section 839d of this title may not be
restricted below the amount of electric power so
acquired from, or on behalf of, such customer. If
in any year such customer’s requirements are
less than such entitlement, any excess of such
entitlement shall be first made available to in-
crease the entitlement of other customers of the
same class before being available for the entitle-
ment of other customers. For purposes of this
paragraph, the following entities shall each con-
stitute a class:
(A) public bodies and cooperatives;
(B) Federal agencies;
(C) direct service industrial; and
(D) investor owned utilities.
(2) Any contractual entitlement to firm power
which is based on electric power acquired from,
or on behalf of, a customer pursuant to section
839d of this title shall be in addition to any
other contractual entitlement to firm power not
subject to restriction that such customer may
have under this section. For the purposes of this
subsection, references to amounts of power ac-
quired by the Administrator pursuant to section
839d of this title shall be deemed to mean the
amounts specified in the resource acquisition
contracts exclusive of any amounts recognized
in such contracts as replacement for Federal
base system resources.
(3) The Administrator shall, consistent with
the provisions of this chapter, insure that any
restrictions upon any
Source: Supplied 2024 U.S. Code historical extraction · 16 U.S.C. § 839d
Stored review status: historical_2024_not_currentness_verified. The source passage cites 16 U.S.C. § 839d. This identifies an authority to review, not proof of applicability.