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<br />MR. CRAliDALL: <br /> <br /> MR. GQODWIN: <br />I MR. CRANDALL: <br />MR. GOODWIN: <br /> <br />MR. CRANDALL: <br /> <br />MR. GOODWIN: <br /> <br />MR. CRANDALL: <br /> <br />I <br /> <br />MR. GOODWIN: <br /> <br />~""J-' <br /> <br />"Oh, the money is returned to the treasury <br />'in payment against the interest." <br /> <br />"Is it Upper Basin money?" <br /> <br />"Oh, yes. It's Upper Basin money." <br /> <br />"It doesn't really say in there whether <br />it is Upper Basin or the whole Colorado <br />River Basin." <br /> <br />"This is the payment to the Upper Basin <br />fund and it is used for operating the proj- <br />ect and meeting the interest and construc- <br />tion fees." <br /> <br />"I see, thank you. <br /> <br />Another thing I'd like to ask you and <br />I'm sure I don't want to put you on the spot. <br />I'm not going to ask you to tell us exactly, <br />but don't you feel the fact they are going <br />to defer the letting of a contract for <br />Crystal Dam is going to cost the Upper Basin <br />more than the dam would actually cost in <br />revenues?" <br /> <br />"Craig, just as a general observation, <br />the postponement of the production of power <br />does mean that you would forego some reve- <br />nues which you might otherwise gain. But <br />the postponements are rather minor compared <br />to the gross amount of revenue over the <br />repayment period of a project. So doing so <br />isn't in any way, in my judgment, threaten- <br />ing the financial feasibility of the Storage <br />Project and the ability to meet the financial <br />support for the participating projects and <br />things of that kind. After the 50-year <br />payout we have a substantial amou~t of <br />revenue." <br /> <br />"I think I could agree with you there, <br />gen~rally, but what I'm getting at is, it's <br />costing the people of Colorado a lot of <br />money to delay the building of that dam. <br />