(1) In general
As consideration for the conveyance under subsection (a), El Paso Water shall pay to the Secretary an amount equal to the fair market value of the property to be conveyed as determined by the Secretary, which may consist of cash payment, in-kind consideration as described in paragraph (2), or a combination thereof.
(2) In-kind consideration
In-kind consideration provided by El Paso Water under paragraph (1) may include one or more of the following:
(A) Discounted or stabilized water commodity rates in accordance with the terms and conditions of any water service or supply agreement in place on the date of the enactment of this Act and referenced in the existing easement.
(B) The delivery of services relating to the needs of Fort Bliss that the Secretary considers acceptable.
(1) In general
If the Secretary determines that the property conveyed under subsection (a) is not being used in accordance with the purpose of the conveyance specified in such subsection, all right, title, and interest in and to the property, including any improvements thereto, may, at the option of the Secretary, revert to and become the property of the United States, and the United States may have the right of immediate entry onto such property.
(2) Opportunity for hearing
A determination by the Secretary under paragraph (1) may be made on the record after an opportunity for a hearing.
(1) Payment required
The Secretary may require El Paso Water to cover all costs (except costs for environmental remediation of the property) to be incurred by the Secretary, or to reimburse the Secretary for such costs incurred by the Secretary, to carry out the conveyance under subsection (a), including costs for appraisals, environmental and real estate due diligence, and any other administrative costs related to the conveyance.
(2) Refund of excess amounts
If amounts are collected from El Paso Water under paragraph (1) in advance of the Secretary incurring the actual costs, and the amount collected exceeds the costs actually incurred by the Secretary to carry out the conveyance under subsection (a), the Secretary shall refund the excess amount to El Paso Water.
(e) Limitation on source of funds
El Paso Water may not use Federal funds to cover any portion of the costs required to be paid by El Paso Water under this section.
(f) Description of property
The exact acreage and legal description of the property to be conveyed under subsection (a) shall be determined by a survey satisfactory to the Secretary.
(g) Additional terms and conditions
The Secretary may require such additional terms and conditions in connection with the conveyance under subsection (a) as the Secretary considers appropriate to protect the interests of the United States.