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<br />1-17 <br /> <br /> <br />Oll2~~3 <br /> <br />Standards <br /> <br />Several standards were established for use in conducting <br /> <br />this study. These included: <br /> <br />1. Current normalized Nebraska prices as provided by the <br /> <br />Water Resources Council, dated October 1974, were used in <br /> <br />estimating benefits where agricultural products were involved. <br /> <br />For other products, 1974 prices also were used. <br /> <br />2. All cost estimates were based on April 1974 prices <br /> <br />except for power plant development which were based on 1970 <br /> <br />prices. <br /> <br />3. The interest rate used in discounting future costs and <br /> <br />benefits was 5-7/8 percent. <br /> <br />The Planning Process <br /> <br />An eight-step planning process as shown in figure 1-3 was <br /> <br />used in this study. <br /> <br />The first three steps of the ~lanning process, (1) establish <br /> <br /> <br />objectives and goals, (2) identify needs and problems, and (3) in- <br /> <br />ventory resources, followed established procedures. Theevalua- <br /> <br />tion of (4), future conditions without a plan, and the remaining <br /> <br />steps (5), (6), (7), and (8) generally encompassing plan formu- <br /> <br />lation were somewhat unique and are described in more detail in <br /> <br />the following sections. <br /> <br />Future Conditions Without A Plan <br /> <br />Future Conditions Without a Plan were derived by analyzing <br /> <br />historic trends of water use and related activities and project- <br /> <br />ing these into the future. An adjustment in the trends was some- <br /> <br />times necessary to reflect recent changes in programs or the <br />. <br />