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MR. SLIZESKI: "From the position of the Corps, I've only <br />one comment and that is regarding the technical <br />aspects of the economic analysis. We are curious <br />as to the rate of interest used in the economic <br />analysis. It is our understanding that the cur- <br />rent rate of interest used in federal analyses is <br />2 -5/8% rather than 2 -1/2 %. This is a minor point <br />except that it will affect the B. C. ratio as <br />indicated in the report. That's all I have_to <br />say." <br />MR. GILDERSLEEVE: "Thank you. Well, Mr. Knights, you've heard <br />the comments, do you have anything to say ?" <br />MR. KNIGHTS: "I've been gone, out of the country for the <br />last three and a half months, and this is the <br />first steering committee meeting that I have been <br />able to attend. So I need quite a little orienta- <br />tion and background. However, I would make this. <br />observation, that I have been associated with the <br />Narrows Dam studies and Narrows Unit studies ever <br />.since their inception, for more than 15 years. <br />Now all the questions that have come up here <br />this morning are the same questions that have <br />come up over that entire 15 -year period and we <br />have spent something like $1 1 - 2 million so I am not <br />impressed with Mr. Barkley's hope that we can do <br />it in a year and another $100,000 or $200,000. <br />If we go into a broad basin type study, that's <br />fine; but we always run into the specific details - <br />many, many specific details - in such a broad <br />study and everyone of those which can't be speci- <br />cally settled, becomes a point that we cannot <br />get over, to settle the whole problem. And I <br />think we've been back and forth over that ground <br />in the South Platte Basin these many years and we <br />haven't gotten it settled. There's no question <br />about that. <br />I just want to point out that if we change <br />our course here (if it is a change in course, per- <br />haps I'm not familiar in what's happened in the <br />last couple of months) we may just be perpetuating <br />the same wheel spinning that's been going on dur- <br />ing the past 15 years. I think somewhere this <br />committee, or the people represented by this <br />-14- <br />