Joe Barton: “I had offered an amendment for the Record that was a very specific amendment, and I am going to read that: The Secretary…”

“I had offered an amendment for the Record that was a very specific amendment, and I am going to read that: The Secretary shall accept from the Trinity River Authority of Texas, if received by October 31, 2015, $30,191,026 as payment in full of amounts owed to the United States, including any accrued interest, for water supply storage space in Joe Pool Lake, Texas, previously known as Lakeview Lake, under contract No. DACW63-76-C-0106. Mr. Chairman, this amendment was approved by the Corps of Engineers, approved by the Trinity River Authority, and approved by the municipalities that are obligated to purchase water that is stored in this lake. However, only one of those municipalities is actually taking the water, and because of a very high interest rate, it would never be feasible for the water to be taken by the three municipalities that are not taking it. Under this agreement, the Trinity River Authority would pay all principal and accrued interest but at an interest rate of a little over 2 percent. The Corps has accepted it. The municipalities have accepted it. The State of Texas has accepted it. It has all been accepted. The committee of authorizing jurisdiction is supportive of it, which is the Transportation Committee. In principle, on policy, the appropriators of the subcommittee on both sides of the aisle are supportive. However, there is a point of order against the amendment as originally drafted. I respect that point of order.…”