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<br />~ <br />~ <br />C'.: <br />e"J <br /> <br />-6- <br /> <br />oontracts requirEments for firm energy. The total output was <br /> <br />l,~9,660,:343 kilowatt hours. <br /> <br />c <br /> <br />Even before formal notice by the Secretary that ser-vice from <br /> <br />Bo"lder Dam would begin on June 1. 1937. the Los -''ngele. Bureau of <br /> <br />Power and Li~ht had begun negotiations with the SecretAry, lOOking to the <br /> <br />reduction of the rete for f1:r:n anergy, and for other conceseions, It had <br /> <br /> <br />by that time become apparent that the MetrojJolitan j'ater Dtstriet, which <br /> <br />wss obl1gated to take or pay for power on June 1, 1938. would be at least <br />, <br /> <br />a year late, ow1ng to delays in ita oonetruction progl'lllll, Beoause of <br />thie, 36'" of the fhm energy at Boulder DlllIl wns available for r<9-sale <br />to other contractors, ..ho would bs required to pay 1'01' it only the price <br />of secondary energy. The Bur.eu of Power end Light h~ving the first <br /> <br />option to take thiR energy made the following offer: <br /> <br />1) to build a third tranlJnlllsion circuit; <br /> <br />2) to tllke thereover 700,000,000 kilowatt hours of <br />energy per year until 1945: <br /> <br />:3) to J.l8Y at eecondllry rate for eo much of thb <br />energy as represented 5% of the 1U!ulled "llergy of <br />the Metropolitf;n District; end for t'1e balance <br />0.25 mille per kilowatt hourI <br /> <br />in return for '!I'hi oh the Bureau naked <br /> <br />1) thflt the Secretary support laehlation making'retro- <br />active a reduction in firm energy rate to e be~s <br />jul!t adequ'e.te to llrno:rtbe the cost of Boulder nmn, <br />v."1thout flood control alloCi>tion. by 1987;- <br />, <br /> <br />2) A reduction in interest r3te from 41, to no~ over :~l <br /> <br />3) defer.n.~i1t of repc::,.mellt O.~ flood cOl;t:t'"Jl until after <br />1987. v:ith no int13rest in the interim; <br /> <br />4) =:rt1zotion of pa.yment ~ for E!1'lipm'3nt in '50 1':-' ;:'3r <br />thon 10 year8, 8S -J;he ori[~inel contracteH'ov1.<'\ed; <br /> <br />5) Such definitions of comp'3t1tive O')1l~t1i.1ne an ''''()lJld <br />practically predste:r:nine the rete. ohnnges to be made <br />in 19/'5, th9 first date fn r,t'3 rev! "i::ln '.roder t11,e <br />Act. <br />