BOARD00444 - Laserfiche WebLink

Home Browse Search

MR. STAPLETON: MR. SPARKS: I I "Can you take us through this item, Mr. Sparks?" "The Board is acquainted with the problem in connection with the Savery-Pot Hook. That project repo~t has been completed and everything necessary to get the project underway has been completed, and is now awaiting action by the United States Congress. The report, however, points out that the State of Wyoming will not have sufficient power revenues accruing to it, to allow construction to get underway before 1970, The State of Colorado, on the other hand, has ample funds to repay its part of the project cost - 68% being allocated to the State of Colorado. As the Bqard will recall, Mr, Gildersleeve, our Deputy Director, made an analysis of future power revenues that would accrue to Colorado under the Storage Project Act through about the year 2030. By means of that schedule we deter- mined that we could loan Wyoming power revenues which would not interfere with any conceivable construction schedule which we could enter into under the participating part of the Storage Project Act. The only thing we are not able to determine definitely,or haven't been up to this date, is how much money Wyoming will require, The project report shows an amount slightly in excess of $4,000,000. We have been trying to arrive at a more definite figure in view of the fact that some of the Wyoming projects do not now appear to be feasible, or one of them, and some change in the Seedskadee Project has taken place. This morning I received a letter from Mr. Clinton, Director of Region 4, to the effect that in his opinion, Wyoming would need as an upper limit the sum of $500,000. I viewed this letter with a tremendous relief because we have been thinking in terms of $4,000,000 to $5,000,000; and that those revenues could be repaid to the State of Colorado by the year 2030, if anybody is going to be around that long, This is almost nothing to us.