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<br />/i--~ <br /> <br />- 2 - <br />3. That the new principles and standards not be made applicable to <br /> <br />proposed projects for which feasibility reports have been completed and <br /> <br />transmitted formally to the States and Federal agencies for review and commer:t <br /> <br />as required by law. <br />4. That until sufficient experience has been gained to permit a valid <br />evaluation of the new principles and standards upon project proposals, no <br /> <br />change be made in the current discount rate for project evaluation. The current <br /> <br />rate is 5-3/8 per cent, <br />Officials representing Western States and water resource organizations <br /> <br />submitted testimony at the Water Resource s Council hearings that the higher <br /> <br />discounting rate would declare economically .infeasible many otherwise <br /> <br />acceptable and beneficial water resource projects. Senator Al!ott told the <br /> <br />Committee that an excessively high discount rate and re-evaluation during the <br /> <br /> <br />5 -year period pres cribed in the WRC regulations would, in effect, nullify <br /> <br /> <br />Congressional authorization of several units of the Colorado River Storage <br /> <br /> <br />Project in Colorado. Senator Jordan expressed fears that tt.e proposed project <br /> <br />evaluation approach would rule out future Reclamation projects in Idaho and <br /> <br />thereby deny his State the benefits of the Columbia Basin Account, established <br /> <br />after many years of effort. <br /> <br />, <br /> <br />_, ..r <br /> <br />,.., <br /> <br />., <br /> <br />< <br /> <br />, <br />", <br /> <br />'.._, <br /> <br />#### <br /> <br />.';:i <br /> <br />" <br /> <br />f_..r <br /> <br />.~ - <br />