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now been repaid. Now 1985 revenues along with all future M&I revenues can be used to repay the irrigation investment. Through fiscal year 1985, power rev- enues have paid nearly $338 million, M&I water revenues have paid about $14 mil- lion. and irrigators have paid $4 million. All of fhls repayment IS In addition to operating costs and more than $227 mil- lion in reimbursable interest, To date Colorado River Storage Project revenues have amounted to more than $1.1 billion, nearly half of which has been returned to the Federal TreasulY as repayment and/or Interest on the investment. Repayment contracts have been ex- ecuted for 17 of the 24 participating pro- Jects, all of which are constructed or under construction. The Navajo Indian ir- rigation Project is also under construc- tion, but a repayment contract is not re- quired for thiS nonreimbursable Indian project. Of the seven projects on which construction has not yet started, one is neallng contract execution, five are in the advance planning stage, and one has been postponed Indefinitely. Projections uSing current estimates at Colorado River Storage costs, construc- tion schedules. revenues from power sales, M&I water sales, payments by ir- rigators, ad valorem taxes, and miscel- laneous revenues show that payment of the reimbursable costs of the authorized Colorado River Storage Project and par- ticipating projects can be accomplished by the year 2090 except for two irrrgation blocks of the Bonneville Unit in Utah Under an agreement between the Bureau of Reclamation and Western Area Power Administration, projects in an Indetlnite status have been scheduled such tha t they do not control the power rate under conSideration. Participating projects shall Crvstcll U,llll d'Ill rW~VIVUI' be Included in the rate setting years only If a detlnite plan report has been prepared, water rights are substantially acquired, envrronmental clearances obtained, and repayment contracts with water users Signed. The repayment study used for this report, as prepared by the Western Area Power Administration, determined the appropri- ate Colorado River Storage Project power rate to be $26.52 per kilowatt year and 5,10 mills per kilowatthour (composite rate is 10.3 mills per kilowatthour at 58.2 percent load tactor). 35