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<br />295 <br /> <br />WHEREAS subsequent to August 4, 1948, the Bureau <br />of Reclamation has expended, so we are informed, in <br />excess of One Million (l,OOO,OOO.OOl Dollars on the <br />Canal phase of the Paonia Project, and <br /> <br />WHEREAS the Bureau of Reclamation has informed the <br />North Fork Water Conservancy District, the contracting <br />agency between the United States and the Water Users:' <br />Associations, that under the existing circ~nstances <br />the Bureau of Reclamation is not in position to expend <br />any more funds on the Paonia Project unless the same <br />are specifically authorized by the Congress and that <br />no further funds for the construction of the Reservoir <br />phase of the Paonia Project will be available prior to <br />the authorization of the 9010rado River Storage Pro- <br />ject and partiqipating projects by the Congress of the <br />United States, and <br /> <br />WHEREAS the North fork Water Conservancy District is <br />advised that such a Bill authorizing the creation of <br />the Colorado River Storage Project and participating <br />projects has been introduced in Congress and that the <br />Paonia Project heads the list of the participating <br />projects, and <br /> <br />I <br /> <br />WHEREAS the Board of Directors of the North Fork Water <br />Conservancy District is likewise advised that a very <br />considerable degree of controversy is in evidence with- <br />in the State of Colorado as to projects that shall be <br />listed or authorized for construction in the initial <br />phase of the Colorado River Storage Project and parti- <br />cipating projects, and <br /> <br />WHEREAS the Board of Directors of the North Fork Water <br />Conservancy ~istrict is advised that the subsidy to <br />the participating projects is made po~sible through <br />the sale of electric energy that will be generated by <br />releasing water from the.storage reservoirs of the <br />Colorado River Storage Project, that the cost of <br />generating electric energy at some of the sites of <br />the Colorado River Storage Project will be much <br />higher than at others, that an average of the cost <br />at the various sites of generating the electric <br />energy will be the basis of the sale of the elec- <br />tric energy, that the higher this average cost is, <br />the narrower will be the margin of profit from the <br />sale of the electric energy for the subsidising of <br />the participating projects of the Colorado River <br />Storage Projects and participating projects. <br /> <br />I <br />