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26 Settlement provides that funds in excess of $200 million will be paid by the United States to the Tribe and, if payment is completed before January 1, 2005, the Tribe waives its claims under the Deferral Agreement. Additionally, the Tribe receives approximately $2.0 million per year from the repayment obligation collected from subscribers to the Bonneville Unit of the CUP. After 50 years, the amount is calculated based upon the value ofM&I water. In addition to settling the Tribe's claims under the Deferral Agreement, the Settlement provides Congress' approval of a quantification of the Tribe's reserved water rights as set out in the proposed 1990 Ute Indian Compact (which has not been approved by the Tribe or the State of Utah), and, allows for the increased beneficial use of the Tribe's quantified reserved water rights. Further progress on these CUP Replacement Projects awaits agreement on Reservoir operations between the Tribe, State, non-Indian water user organizations and Department of the Interior. Discussions between the parties are ongoing. QUANTIFICATION OF THE TRIBE'S RESERVED WATER RIGHTS In 1980 the State of Utah authorized, confirmed and approved the Ute Indian Water Compact which recognized a specified amount of water from the Colorado River as apportioned to the United States in perpetuity, in trust, for the Ute Indian Tribe and others (such as Indian allottees) with an 1861 priority date. In a tribal 1988 referendum vote, a majority of those voting approved the 1980 version of the compact within the context of approving a framework for an overall water settlement package, including a financial package and the guaranteed construction of the Uintah, Upalco and Ute Indian Units as originally contemplated. Following the referendum, questions were raised about the validity of the election. In addition, Congress failed to consider a bill implementing the overall water settlement package and the validity of the approval of the Compact without the proposed financial package and construction of the originally proposed CUP units was further questioned. At any rate, the 1980 version of the Compact was never approved by Congress. Following Congress' failure to consider the Tribe's settlement package, the Tribe and the State renegotiated certain provisions the 1980 version of the Compact. In addition, the Tribe negotiated with the Central Utah Water Conservancy District for inclusion of a financial settlement within the larger Central Utah Project Completion Act. Those negotiations resulted in Title V of the CUPCA within which Congress ratified a 1990 version of the Compact. Congress recognized within Title V that the Compact still required ratification by the State and Tribe, an action that neither party has yet taken. Quantification of the Tribe's reserved water rights has been based upon a tabulation which was prepared to identify and define the federally reserved water rights of the Tribe. As noted above, the Tabulation, entitled "Water Rights Claims, Uintah and Ouray Indian Reservation, Utah"