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I we will have five projects under construction simultaneously within the State of Colorado. Projects with an eventual cost of some $150,000,000. This is the first time in the history of the State of Colorado that we've had such a gigantic program going. When you remember that we've only had seven projects in the last 58 years, five going simultan- eously is a high mark for our reclamation program. The interest rate formula, as you know, which was a thorny problem facing the Cure- canti Project, has been passed by the Congress and signed by the President, so that that obstacle is behind us, I also just received from Senator Allott two days ago a copy of a ~fultiple Purpose Forest Bill. You do not have copies in your folders but I will pass them around. I will not review this in any detail but there again was a problem which we felt required legisla- tive action this year so the multiple use of the forests could be established as a Con- gressional policy. That Act has passed both the Senate and the House and was approved by the President on June 12, 1960. I ~- There is also pending in the Senate an act to permit power revenues, under Public Law 485, to be applied upon the rehabilitation of projects. That is of particular interest to the Uncompahgre Project and to the Grand Valley Project. It is an amendment to the Grand Valley Project Act by Congressman Aspinall and it seems that that Act will pass both the House and Senate to permit the already going projects to take advantage of the power revenues from the Storage Project Act. Hearings were held early in June on the Fryingpan-Arkansas Project. Those hearings, we think, were the most favorable to the project ever conducted and there is great optimism among our Congressional delegation that the project legislation can be passed during the next session of Congress. The Savery-Pot Hook Project is now vir- tually ready for submission to the Congress. For some reason or the other, however, Wyoming