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<br />~UOI <br /> <br />I <br /> <br />So that there may be no misapprehension <br />in the future, I will point out that in every <br />case, to assist in the repayment of these <br />projects, the maximum taxing power of the <br />conservancy district will be computed in re- <br />payment costs. Now that does not mean <br />necessarily that the maximum tax will be <br />levied because there is some discretion still <br />within the board of directors of the conser- <br />vancy district. But the Bureau, in computing <br />its 50 years payout, does take into considera- <br />tion, and include in its report, the maximum <br />taxing power of the district. <br /> <br />The bids for the construction of the <br />Smith Fork Project will be opened on August <br />30th at Crawford, Colorado. I intend to be <br />present when those bids are opened. We anti- <br />cipate that construction will get under way <br />within a relatively short period after the <br />bids are opened. <br /> <br />I <br /> <br />On the Narrows Project we had some ques- <br />tion about the appropriation with the inclu- <br />sion of that project in this year's program <br />with Region 7 - not from Region 7 but from <br />higher up. As you know, that project was <br />authorized back in about 1946 or thereabouts <br />and has not been constructed to date. In <br />1957 this Board requested that studies be <br />reinitiated on channel storage on the South <br />Platte River. Last year we contributed <br />$25,000 to the Bureau to resume those studies <br />in anticipation of the fact that the Bureau <br />would have in excess of $40,000 available this <br />fiscal year. At the present time we believe <br />it is settled that the Bureau will have a <br />little over $48,000 for this fiscal year. We <br />have tentatively settled upon the Hardin site <br />to conduct a thorough reconnaissance investi- <br />gation for the purpose of determining whether <br />or not we should actually construct a reser- <br />voir at that site. By the end of this calen- <br />dar year we hope to have the results of that <br />reconnaissance investigation. Members of our <br />own staff are participating in that investi- <br />gation and by the 30th of December, we hope <br />to know where we will be able to go from <br />there. If those reconnaissance studies are <br />favorable we anticipate that under the present <br />authorization we can go ahead with the con- <br />struction of the reservoir. It will mean <br />