Section 15-1725. Prosecution of project works

1.  The  licensee shall commence the construction of the project works
  within the time fixed therefor in the license. He  shall  thereafter  in
  good faith and with due diligence continue the construction thereof, and
  within the time fixed in the license complete and put into operation the
  whole  of  such  development  work  or such part or parts thereof as the
  license prescribes; except that when not incompatible  with  the  public
  interest,  the  department  may,  from  time to time, for good cause, by
  resolution extend the time either for the commencement  of  construction
  or for the completion thereof.
    2. The licensee shall, when required by the department and as often as
  once  in  every  six  months during the course of the construction, file
  with the department a detailed statement of  the  cost  of  the  project
  during  the period covered by the statement. Within six months after the
  licensee has filed its final  statement  after  the  completion  of  the
  project,  the department shall file a statement of the total cost of the
  investment.
    3. The department at such time or times as it deems proper may examine
  any statement of the licensee, whether partial or complete, and  hold  a
  hearing  to  determine whether the same correctly states the cost of the
  project or part thereof, as therein set forth, and shall have  power  to
  determine  whether any part of the expenditure has been made wastefully,
  or in disregard of the terms of the license, or in  bad  faith,  and  to
  deduct  such  items improperly included as may be necessary to make such
  statement or statements conform to the  fair  and  actual  cost  of  the
  project  or  part  thereof.  Subject  to  review  as provided in section
  15-0905, the determination of the department shall be conclusive for all
  purposes as to the amount of  such  investment  as  shown  by  any  such
  statement.