BOARD01663

• Board Meeting Date: 8/6/1969
• Description: Agenda or Table of Contents, Minutes, Memos
• Board Meetings - Doc Type: Meeting

It's not on the agenda but I think we
ought to have a report from our attorney
to see what has been happening."

MR. MOSES:

"I was told by your superior, Mrs.
Keating, that I didn't have to make a
report tOday."

MR. STAPLETON:

"Obviously, a lack of communication!"

MR. MOSES:

"I made the presentation for the Western
states Water Council at the National Gover-
nors' Conference in Seattle and the Western
Governors' Conference in Seattle last week.
One of the things that particularly con-
cerned all of the western states was the
reluctance on the part of the Secretary of
the Interior to work through the Council
on the implementation of the reconnaissance
studies that are required under the central
Arizona Project Act. We were told by
Under-Secretary Smith who was here the 1st
of July that the reason they were reluctant
to incorporate the Council into setting
up the plans was because the Governors
hadn't aSked for it. It would take that.

In connection with this matter of
financing, there is considerable interest
among the western states on taking a new
look at some kind of financing technique
that would not make these projects depen-
dent on congressional appropriations. One
possibility that has been suggested would
be the establishment of something in the
nature of the Federal Housing Administra-
tion type of guarantee of state obliga-
tions which would, in effect, permit a
state to issue bonds for the construction
of a project, have the federal government
guarantee the principal payment, and then
it would be up to the water users and the
state to provide the interest payments.

One of the things that has always

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