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<br />Members of the Board, ladies and gentlemen, <br />the report that I will give is essentially the <br />same as the one contained in your folders dated <br />November 6th. I will try to update that just <br />a little bit on a few matters that have happened <br />since this report was made. <br /> <br />I believe you all followed in the paper <br />the fact that the storage Project and the <br />generation of power from Glen Canyon was <br />initiated on September 1, 1964. This power <br />was delivered through an interconnection with <br />the Arizona Public Service and it was delivered <br />to the Parker-Davis project for preference <br />users and as replacement power for downstream <br />Hoover Dam losses. Of the eight generator <br />units that are being installed at Glen Canyon <br />Dam, testing on the first one was started <br />on August 20: the second generator began gen- <br />erating in September: and the third unit is <br />s:cheduled for commercial operation in December <br />and the fourth in March, 1965. <br /> <br />As far as the general reservoir condition <br />is concerned, we anticipate that Lake Powell <br />will be maintained at elevation 3,490 to 3,492 <br />at least up until l>larch. On November 29 the <br />water surface was at elevation 3,491.46. <br /> <br />Again I believe most of you gentlemen <br />who have been following the newspapers noticed <br />that on October 20th there was a tremendous <br />interconnection of power facilities accom- <br />plished. This interconnection was made possible <br />through the transmission system constructed by <br />the Storage Project and through the generation <br />at Glen Canyon Dam. A total of about 40 million <br />kilowatts of generating capacity was inter- <br />connected at that time. <br /> <br />Moving on to construction at Glen Canyon, <br />the prime contractor has substantially com- <br />pleted his work at the dam. It is anticipated <br />that he will move out prior to the first of <br />January. The completion contractor, the con- <br />tractor responsible for installation of the <br />generators and testing, installation of <br /> <br />I <br /> <br />I <br />