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<br />1622 <br /> <br />MR. STAPLETON: <br /> <br />MR. SPARKS: <br /> <br />MR. EAKES: <br /> <br />MR. STAPLETON: <br /> <br />MR. GOSLIN: <br /> <br />"Is there any further discussion by members <br />of the Board?" <br /> <br />"I might add, Mr. Chairman, that the South- <br />eastern Water Conservancy District and also the <br />Colorado River Water Conservation District have <br />adopted similar resolutions. Bill Eakes, has <br />your Board had time to act on this resolution <br />yet ?" <br /> <br />I <br /> <br />"The Board hasn't met on the resolution but <br />the Executive Committee did and we sent a wire <br />to our Congressional delegation." <br /> <br />"Mr. Goslin, would you <br />this matter we are turning <br />Colorado River Commission? <br />you came over today." <br /> <br />like to <br />over to <br />We are <br /> <br />comment on <br />the Upper <br />delighted <br /> <br />"This matter of interest, as Larry has <br />pointed out to you, is exceedingly important. <br />Larry and I have discussed this a time or two <br />on the telephone. We've made our Congressional <br />delegations aware of the problem. That is <br />certainly true. With reference to the resolu- <br />tion, there is one thing in it that should be <br />corrected if you decide to adopt it. Techni- <br />.cally the name should be the Water Supply Act' <br />of 1958 instead of Flood Control Act. <br /> <br />Now with reference to the interest rate <br />I'd like to tell this body some things that we <br />have done in studying it. Also it gives you a <br />little bit of additional background. Larry <br />covered the background with regard to the time <br />that we had the bill in Congress for authoriza- <br />tion. Believe me, it was difficult getting the <br />language that is now in the Bill. You should <br />have seen the language that was first proposed <br />by the Bureau of the Budget. It was really <br />tough. I objected, strenuously, to the language <br />that is in the present bill because I thought, <br />at.the time, that I could foresee just exactly I <br />what has happened. That we were going to have <br />an increase in interest rates, but as Larry told <br />you, we were in no position in Washington to <br />argue the point. It was either take this lang- <br />uage or take an adverse report from the Bureau <br />of the Budget and we could not afford an ad. <br />verse report from the Bureau of the Budget. <br />