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where required within the time allotted may nullify the delivery schedule at the discretion of the Bureau of Mines.

(f) Approval of contract and deposit of advance payment in special helium-production fund. Upon receipt of a properly executed contract accompanied by the stipulated initial deposit and by a bond where required the contract will be forwarded for the consideration of the Director of the Bureau of Mines. If such a contract executed by the said Director is for more than 100 units of helium (100,000 cubic feet of contained helium) it shall also be forwarded to the Secretary of the Interior for consideration and shall not be binding until approved by him in writing. If the said contract is executed by the Director of the Bureau of Mines (and approved by the Secretary of the Interior if it is for more than 100 units of helium), the initial deposit will be placed to the credit of the special helium-production fund provided for by section 3 (c) of the said Act (50 Stat. 887; 50 U.S.C., Sup., 164 (c)). Otherwise the certified check and bond will be returned to the applicant.* [As amended Mar. 10, 1938, 3 F.R. 648]

1.4 Actual costs and service charges-(a) Method of computing unit costs. After the close of each fiscal year (ending June 30) the Bureau of Mines shall compute, and submit to the Secretary of the Interior for approval, the actual cost per unit of helium for market helium sold during that year, determined by adding operating cost, depreciation, depletion, and interest, as defined below, for all properties that produced market helium during that year, and dividing the sum of money so determined by the total number of units of helium produced and sold as market helium, plus the number of units produced for governmental agencies, by such properties during that year:

(1) Operating cost. The expenses (exclusive of those covered by service charges) incurred by the Bureau of Mines during such year in supervising, operating, and maintaining such properties; less the returns credited or creditable to the special helium-production fund established by section 3 (c) of said Act (50 Stat. 887; 50 U.S.C., Sup., 164 (c)) that are derived from residue natural gas or byproducts from such properties sold during such year: Provided, however, That if in the judgment of the Secretary of the Interior deduction of all such returns gives an operating cost that is unduly low, all or any part of such returns may be eliminated from consideration in the determination of operating cost.

The expenses incurred, as computed for the determination of operating cost, shall take into account the expenditures (exclusive of those covered by service charges) for plant and gas-field operation and maintenance, including supplies and smaller items of equipment therefor, of the character which, prior to September 1, 1937, were customarily lodged against funds transferred by the Army and Navy and other Federal agencies for helium procurement and funds appropriated to the Bureau of Mines under the appropriation title "Gas production for helium plants", but not including expenditures for property and major facilities or items of equipment to be amortized through depreciation and depletion as hereinafter specified; and in

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*For statutory and source citations, see note to § 1.1.

computing said operating cost appropriate adjustments shall be made for increases or decreases in stocks of supplies and equipment held in the Bureau's plant and gas-field store rooms.

(2) Depreciation. A reasonable charge for the depreciation of any Government-owned plant and pertaining equipment used in production of market helium during said year (not including items covered by operating cost), computed on a basis that can be expected to amortize the cost of acquiring and developing such plant and equipment by the end of its productive life.

(3) Depletion. A reasonable charge for the depletion of any Government-owned helium-bearing gas properties used in production of market helium during said year (not including items covered by operating cost), computed on a basis that can be expected to amortize the cost of acquiring and developing such properties by the end of their productive lives.

(4) Interest. Interest for said year at the rate of 32 per centum on capital expended after September 1, 1937 (except from the special fund established in subsection (c) of section 3 of the said Act (50 Stat. 887; 50 U.S.C., Sup., 164 (c)), for properties, facilities, and helium-bearing gas lands used for production of market helium during said year, and not yet amortized through charges for depreciation and depletion.

(b) Method of computing service charges. Service charges shall be determined by the Bureau of Mines on the basis of the cost to the Government of rendering the service, making due allowance for contingencies, overhead expense, and intangible factors. As conditions permit, the said Bureau shall prepare schedules of charges for service items of substantially uniform cost, which schedules shall be made known to purchasers of helium and be effective until modified by the Bureau of Mines.*† [As amended Mar. 10, 1938, 3 F.R. 648]

1.5 Estimated costs and service charges-(a) Annual preparation of estimated unit costs. On or before the beginning of each fiscal year, the Bureau of Mines shall prepare an estimate of the cost per unit of helium for that fiscal year, based on operating conditions and the expected volume of deliveries, as indicated by information received from Government departments, commercial interests using helium, and any other available sources. After approval of that estimate by the Secretary of the Interior it shall be the estimated cost per unit of helium for use as indicated in § 1.6 for computing deposits. Such estimates may be revised from time to time during the year as changing conditions may warrant, and each revised estimate, when approved by the Secretary of the Interior, shall become the estimated cost per unit of helium for use (until revised again) in computing deposits to accompany subsequent contracts and determining required additions to deposits under contracts previously made: Provided, however, That in computing the deposit required under an application for a quantity of helium large enough to have a material effect on the actual cost per unit of helium, the Bureau of Mines may use a revised estimate of the cost per unit of helium conditionally approved by the said Secretary, to become effective upon final execution of the contract arising out of said application.

**For statutory and source citations, see note to § 1.1.

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(b) Estimated service charges to be furnished applicant. Upon the receipt of each application for purchase of helium, the Bureau of Mines shall estimate the service charges applicable to such helium and its delivery, based upon the volume of helium to be delivered, types of containers to be supplied, method of transportation, and other pertaining factors; and the said Bureau shall make such estimates known to the applicant.** [As amended Mar. 10, 1938, 3 F.R. 648]

1.6 Deposits-(a) Method of computing amount of initial deposits. Subject to the provisions of paragraph (c) of this section, the initial deposit to be made by the purchaser, before final execution on behalf of the Government of any contract for the purchase of market helium, shall be 120 per centum of the estimated cost of all helium to be delivered under such contract, plus all estimated service charges applicable thereto : Provided, however, That in no event shall the amount deposited for any one contract be less than $12 plus the estimated service charges applicable to the helium to be delivered: Provided further, That if such a contract is for the purchase of more than 1,000 units of helium, the deliveries of which are to be extended over a period that in the judgment of the Bureau of Mines warrants application of this proviso, the initial deposit may be a sum not less than 60 per centum of the estimated cost of all helium to be delivered under said contract, plus the estimated service charges applicable thereto, or the amount estimated by the Bureau of Mines to be necessary to meet obligations incurred or to be incurred in producing and delivering the helium called for by such contract, whichever amount is the greater.

(b) Supplemental deposits, method of computing; applicant may make supplemental deposits, when required, or accept decrease in amount of helium delivered. Subject to the provisions of paragraph (c) of this section, in case the initial deposit under a contract is less than the said 120 per centum of the estimated cost of helium, plus estimated service charges, or in the event that (as a result of an increase in the estimated cost per unit of helium or for any other reason) the amount that has been deposited under a contract is less than the amount required to be on deposit under the following provisions of this paragraph, and deliveries of helium under that contract have not been completed, the purchaser shall deposit additional funds (in the form of certified checks payable to the Treasurer of the United States) at such times and in such amounts that at least 30 days in advance of any scheduled delivery under such contract the amount the purchaser has deposited under that contract shall equal or be greater than the following, to wit:

(1) One hundred five per centum of the actual cost of all helium delivered under said contract for which actual costs have been determined, plus all service charges applicable thereto, plus

(2) One hundred twenty per centum of the latest estimated cost of all helium delivered under said contract for which actual costs have not yet been determined, plus all estimated service charges applicable thereto, plus

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**For statutory and source citations, see note to § 1.1.

(3) One hundred twenty per centum of the latest estimated cost of the estimated amount of helium to be delivered in the next scheduled delivery, plus all estimated service charges applicable thereto, plus

(4) Sixty per centum of the latest estimated cost of the amount of helium to be delivered under such contract subsequent to the next scheduled delivery, plus all estimated service charges applicable thereto :

Provided, however, That in lieu of making a supplemental deposit required by an increase in the estimated cost per unit of helium, the purchaser may accept a corresponding decrease (to be determined by the Bureau of Mines) in the quantity of helium subsequently to be delivered under such contract.

(c) Method of computing initial and supplemental deposits for commercial users of helium. In the case of all contracts for the purchase of market helium for commercial use, as distinguished from medical and scientific use, the deposits required under paragraphs (a) and (b) of this section shall be determined by applying the percentages stated in said paragraphs (a) and (b) to (1) a figure equal to 112 per centum of the estimated cost of helium rather than to the estimated cost of helium, or (2) a figure equal to 112 per centum of the actual cost of helium rather than to the actual cost of helium, as the case may be.

(d) Delivery may be delayed or quantity curtailed because of inadequate deposits. In case any scheduled delivery of helium is not made because of failure of the purchaser to deposit adequate funds as hereinbefore required, the Bureau of Mines, at its election, may schedule that delivery for any later time suited to its operating program or deduct the quantity of helium in that scheduled delivery from the amount of helium remaining to be delivered under the pertaining contract.*+ [As amended Mar. 10, 1938, 3 F.R. 648]

1.7 Adjustments of deposits, refunds, and final settlements. After the close of a fiscal year (ending June 30) and the computation by the Bureau of Mines and approval by the Secretary of the Interior of the actual cost per unit of helium for that year, and computation of service charges applicable under each contract, adjustments in deposits shall be made as follows:

(a) Purchaser entitled to refund of excess deposits after all helium has been delivered and charges deducted. Subject to the provisions of paragraph (c) of this section, in the case of each contract under which no helium remains to be delivered and the actual cost of all helium delivered thereunder, and the service charges applicable thereto, have been determined, the purchaser shall be entitled to receive (without interest) the excess, if any, that remains after 105 per centum of the actual cost of all helium delivered under said contract during the said fiscal year, plus all service charges applicable thereto, has been subtracted from the amount of money the purchaser has deposited under that contract; and the money deposited (exclusive of such excess, if any) shall constitute full payment of the price for the helium delivered under said contract and the delivery thereof: Provided, however, That the minimum to be subtracted from the amount of money the purchaser has deposited,

**For statutory and source citations, see note to § 1.1.

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on account of helium included in any one shipment, and the delivery of such helium, shall be $10.50, plus all service charges applicable to that shipment.

(b) When purchaser is entitled to refund of excess deposits before deliveries have been completed. Subject to the provisions of paragraph (c) of this section, in the case of each contract under which deliveries of helium have not been completed, or under which the actual costs of helium delivered, and the service charges applicable thereto, have not been determined, the purchaser, at the option and in accordance with the determinations of the Bureau of Mines acting under the direction of the Secretary of the Interior, may be entitled to receive (without interest) all or a part of the excess, if any, that remains after subtracting from the amount of money the purchaser has deposited under that contract the following, to wit:

(1) One hundred five per centum of the actual cost of all helium delivered under said contract for which actual costs have been determined, plus all service charges applicable thereto, plus

(2) The amounts required to be on deposit under the terms of § 1.6 to cover all helium delivered under said contract for which actual costs have not been determined, all helium remaining to be delivered under said contract, and the delivery of all such helium.

(c) Method of computing refunds of excess deposits to commercial and medical users. In the case of all purchases of market helium for commercial use, as distinguished from medical and scientific use, the amounts to be subtracted, pursuant to paragraphs (a) and (b) (1) of this section, from the amount of money the purchaser has deposited shall be determined by applying the percentages stated in said paragraphs (a) and (b) (1) to a figure equal to 112 per centum of the actual cost of helium rather than to the actual cost of helium. In the case of all purchases of market helium for medical use, the amounts to be subtracted, pursuant to paragraphs (a) and (b) (1) of this section, from the amount of money the purchaser has deposited shall be such as will, in the judgment of the Secretary of the Interior, permit the general use of helium for medical purposes.

(d) Refunds to be made from helium production fund or left on deposit for future use at option of purchaser. Excesses due purchasers under the terms of this section shall be paid to such purchasers out of the special helium-production fund authorized by section 3 (c) of the said Act (50 Stat. 887; 50 U.S.C., Sup., 164 (c)): Provided, however, That at the election of the purchaser any such excess may be left on deposit to the credit of the same contract or any other contract for purchase of helium from the Government to which said purchaser may be a party.** [As amended Mar. 10, 1938, 3 F.R. 648]

1.8 Repurchase of helium by Government-(a) Helium sold may be repurchased by Government. Any market helium sold by the Bureau of Mines under the regulations in this part that has not been lost or dissipated may be repurchased by the Government when needed for Government use, at the place where said helium is in use or storage.

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*For statutory and source citations, see note to § 1.1.

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