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Public Statements

Allowing Prepayment of Federal Contracts with the Unitah Water Conservancy District

Floor Speech

Location: Washington, DC


Mr. YOUNG of Alaska. Mr. Speaker, I yield myself such time as I may consume.

H.R. 818 would allow a local water district in Utah to prepay its loan obligations to the Federal Government. Prepayment can benefit local water utilities because it relieves them of interest costs and some regulatory burdens.

This concept is similar to giving a family an option to prepay its mortgage and to save compounded interest cost. It's also in the best interest of the American taxpayer since it will facilitate the revenues to the U.S. Treasury.

I urge adoption of this measure, and I reserve the balance of my time.


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