BOARD00444

• Board Meeting Date: 1/11/1961
• Description: Minutes
• Board Meetings - Doc Type: Meeting

MR, STAPLETON:

MR. MC CANDLESS:

MR. SPARKS:

MR. Me CANDLESS:

MR, SPARKS:

Before I had received this letter from Mr.
Clinton, and at the request of our congressional
delegation, I prepared a bill to authorize the
Savery-pot Hook Project. I put in there a pro-
vision, rather an elastic provision, providing
for tbe loan of power revenues by the State of I
Colorado to the State of Wyoming and tbe return
of those revenues from Wyoming to Colorado at a
date certain, and in an amount certain, under
such form and contract as may be prescribed by
the Secretary of the Interior, to be binding
upon the States of Wyoming and Colorado and the
United States. If the legislation can be en-
acted in that form, we then hope - as a matter
of fact, we are negotiating at the present time
for this contract. But before any contract is
entered into which would bind the State of Colo-
rado, it would have to be submitted to this
Board for approval. Generally it would state,
in accordance with this letter, the loan of
$500,000 to be returned to Colorado in the year
2030.

At this time, all I can recommend is that
the legislation, in principle, be approved, with
the understanding that the Board has not com-
mitted anything in the way of power revenues
from Colorado and will not do so until a con-
tract is executed between the State of Colorado,
the State of Wyoming and the United States."

"Mr. McCandless, do you make that motion?"

"Well, yes. I just don't understand. Do
you still, Larry, want to use this bill that you
have prepared? It doesn't mention any amount
so the change wouldn't make any difference."

"That's right. We have stated that the
contract must contain a definite amount and a
date return certain."

I

"That's right. So this would still be in
effect?"

"This would still be in effect."