WSP10987 - Laserfiche WebLink

Home Browse Search

32 COLORADO RIVER STORAGE PROJECT PROJECT REPAYMENT A repayment ~nalysis of the Colorado River storage project and participating projects has been made to demonstrate how repayment of I:eimbursable gonstruction costs of ,the p,:oject, including ~nterest durmg constructIon, can be accomphshed m a.ccordance wIth the provisions of the i authorizing legislation. Costs alloeated to recrea- tion and to fish aild wildlife are made nonreimbursable by the author- izing act. Costs !allocated to flood control are also nonreimbursable. Costs allocated to irrigation, power, and municipal and industrial water nse, which. represent more than 99 percent of tho project cost after de<\uctions are made for contribute(\ funds and nonreimbursable investigation expenditures, are reimbnrsable. Reimbursable qosts except as noted below will be repaid in a period of not more than 50 years from the date of completion of the respective storage units, pdrticipltting projeets, or seJlal'llble features thereof, following in the base of irrigation a snitable development period of not more than ld years. Irrigation-water users will repay in accord- ance with their estimated ability for a period of 50 years except as otherwise providM by separate authorization acts for the Eden and Paonia projects. . Project repaymont contracts will be executed with conservancy-typo districts which have the capacity to levy assess- ments upon all taxable real property located witbin thoir boundaries to assist in paying project costs. 'Municipal and industrial water users will repay \Vith intercst at 2% percent the full cost allocated to municipal and inHustrial water. Power will be sold at rates at which all costs allocated t.o power will be repaid with interest at 2l' percent and revenues will be pI'ovided to assist in the repayment of irrigation costs. : ~PPER COLORADO RIVER DASIN FUND All revenUes cdllectod in the opemtion of the Colomdo River storage project and participating projects will be. credited to and disburaed from the Upper C)olorado River Basin fund as provided by the project authorizing act. i Accounting records for tbe basin fund will be main- taine(l to ahow (1) source of revenue and (2) the applieation of total revenues receive(! into the fund. Surplus revenues in the basin fnnd, as defined in section 5 (e) of the act of April 11, 1956, will be used to repay irrigat~on costs of participating projects that are beyond the repayment ~bility of the project irrigators. Surplus revenues remaining in the basin fund from participating projects will be ap- portioned to the! State in which such participating project is located and surplna rev~nues from the storage units will be apportioned by States aa ahown below. P~rcmt . Percent COlorado_________L____h_____ 46.0. Wyoming____________________ 15.5 Utah____________~----------- 21. 5 New Mexioo__________________ 17.0. In accordanc~ with the foregoing procedures, disbursements from the basin fund for the storage l'roject or for participating projects will be made gerierally in the fol owmg order: (1) Payment of opemtion, maintenance, replacement, and emergency 90sts for project facilities.