Laserfiche WebLink
<br />A- <br /> <br />e <br /> <br />Closed Basin Project <br />January, 1989 <br /> <br />although none is expected. Given the circumstances faced in <br />Congress, and given that construction on the project would have <br />been terminated had the ceiling increase not been obtained last <br />October, this was the best that could be done. <br /> <br />Total expenditures for construction will reach $75 million <br />during the course of the current federal fiscal year. Thus, <br />the $6 million of non-federal financing must be obtained and a <br />binding agreement entered into with the Secretary within the <br />next several months in order to avoid termination of <br />construction. <br /> <br />The water supply which will be provided by the Closed Basin <br />Project will assist Colorado in meeting its obligations under <br />the Rio Grande Compact. Due to this fact, and because of the <br />manner in which the project will be operated, the project will <br />benefit the Rio Grande Valley and its water users in general. <br />Under the circumstances, the Board believes that it would be <br />appropriate for the state to provide the required $6 million on <br />a non-reimbursable basis since it is impossible to assign <br />project benefits to individual water users. <br /> <br />e Recommendation <br /> <br />The Board recommends that the General Assembly authorize it <br />to (1) expend up to $6 million from the CWCB construction fund <br />for the required non-federal financing, such expenditure to be <br />made on a non-reimbursable basis, and (2) enter into such <br />agreement with the U.S. Bureau of Reclamation for non-federal <br />financing as is required by the new federal legislation. <br /> <br />JWM/gl <br /> <br />e <br /> <br />-2- <br />