Laserfiche WebLink
<br />I <br /> <br />I <br /> <br />requirements. I think that is pretty well already contained in the <br />Environmental Policy Act. However, not enough attention has been given <br />to environmental considerations over the years and the pendulum is <br />beginning to swing the other way. This swing can be carried to <br />extreme. In one court case, the court has ordered the Environmental <br />Protection Agency to make an environmental report on its reports. <br /> <br />~k. Stapleton: I don't think this needs to be in the report final, <br />do you? <br /> <br />Mr. Sparks: No, I think we can agree that we should give full con- <br />sideration to environmental matters. <br /> <br />pk. Stapleton: That is 50 self evident. I just hate to have it <br />cluttered up with some of those statements, but let's see how it comes <br />out. <br /> <br />P~. Sparks: Let's paraphrase two other things that appear to be <br />important. In the field of state water laws, the report recommends <br />that state water laws should be the basis for the rights to be <br />acquired by the federal government. If there is any infringement upon <br />vested rights under state law, the federal government should compensate <br />the people for taking the water away from them. As a result of federal <br />claims now pending in Colorado, some state granted \jater rights will <br />be destroyed. We have always advocated that the federal government <br />should file under the sta.te la"ls. So I don't think there is any <br />disagreement there with the Commission report. <br /> <br />On the last point, it is recommended that the discount rate for <br />computing the benefit-cost ratio for all projects be established based <br />upon the average yield of Treasury obligations of longer than ten <br />years in duration. That is substantially the present method of <br />figuring the discount rate. It is based upon the federal cost of long <br />term bonds. This recommendation, however, is being strongly attacked <br />by various conservation organizations. These organizations urge that <br />the discount rate be set at ten percent. crell, again I think we are <br />in agreement with the National ,Jater Commission that the rate of <br />interest charged should be that rate that it costs the federal govern- <br />ment to borrow money. <br /> <br />The last recommendation is the consolidation of various government <br />agencies, or at least the functions of various agencies. Again, this <br />seems to be very worthwhile. A major problem with the state and fed- <br />eral governments today is .that they are being crushed by their own <br /> <br />-18- <br />