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<br />Page 2 <br />4It D. Commencing upon repayment of costs Identified in Paragraph 1(8). or <br />not later than the beginning FY 1995, a composite rate of 8.5 <br />mills/kwh would be distributed directly to the four Upper Division <br />states for their use in financing water projects to develop the <br />waters of the Colorado River, said revenues to be available as a <br />state. may choose for the construction of new projects (CRSP <br />participating projects and/or other federal or state projects). and <br />repairs and rehabilitation of existing projects. <br />2. With respect to these four components: <br />A. The power rate would be adjusted annually for component A, subject to <br />the applicable rate review procedures. <br />8. Component B would be established and effected in January 1990, <br />subject to applicable rate review procedures. . It would be adjusted <br />~ annually as necessary. It would expire during the course of FY 1994. <br />upon repayment of the power investment. <br />C. Component C would be initially established subject to the applicable <br />rate review procedures, would thereafter remain unchanged, and would <br />expire upon the repayment of the debt incurred for the specified <br />purpose. <br />D. Component D would automatically be set at a composite rate of 8.5 <br />mills/kwh in January 1995, and would be adjusted annually by indices <br />applicable to water project construction. Rate review would be <br />limited to annual index adjustments after the 8.5 mills/kwh were <br />initially put into effect. <br /> <br />4It <br />