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<br />FINANCIAL AND ECONOMIC ANALYSIS <br /> <br />Colorado River Storage Project and Participating Projects <br /> <br />INTRODUCTION <br /> <br />An extensive program for the development of water resources in <br />the U/?per Colorado River Basin was initiated by the act of April 11, <br />1956 (70 Stat. 105).. Authorized for construction were fOlli' initial <br />units of the Colorado River storage project on the main river or its <br />larger tributaries, primarily for river regulation and power production. <br />Also authorized were 11 partieipating projeets for irrigation and other <br />related purposes, including the partially constructed Paonia project <br />in Colorado. The entire development is linked financially through the <br />Upper Colorado Ri*er Basin fund which was estllhlished by the act. <br />The largely eenstrueted Eden projeet in Wyoming was also made <br />a participant in the.basin fund. <br />The economic l\nd financil\l analysis reported in this volume is <br />intended to be used ~s a reference and guide by the Bureau of Reclama- <br />tion and others hl\vin~ responsihility in cl\n-ying out the authorized <br />development program 1Il the Upper Colomdo River Bl\sin. With con- <br />8truction just starting on initially seheduled units, this first report i8 <br />based largely on planning estimates with such refinements as are <br />p08sible in a few instl\nces from det,ailed preconstruction estimates <br />and from bids on; construction work. The report will be revised <br />periodieally as progress is made in detailed investigations and con- <br />struction and as new data become available, <br />. Tbe estimates ,of power production at th~ authorized storage units <br />mvolve assumptlO}1s on the future depletIon upstream from these <br />units and resultant regulated annual releases. Utilization of any of <br />the a8sumpt,ion8 .jnderlying t,he basic waIN' supply studies does not <br />carry with it any: actual or implied finding of legal restrictions or <br />limitations. ' <br /> <br />, <br />WATER COMPACT AND TREATY OBLIGATIONS <br /> <br />DIVISION OF WA'fER <br /> <br />Water of the Golomdo River was divided between the Upper and <br />Lower Colorado River Basins by the Colorado River compact, which <br />was signed in 1922 by a commissioner of each of the seven States of <br />the river hasin and 'by a representative of the United States. and <br />which was 8ubse&llently approved by the Congress and the PreSIdent <br />of the United Sfl\tes. The dividing point on the river between the <br />upper and lower! basins is at Lee Ferry near the northern border of. <br />Arizona below tpe mouth of I,he Paria'River. Among other things, <br />the compact apportions to (;he upper basin the beneficial consumptive <br />1 <br /> <br />. <br /> <br />i <br />I <br />