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<br />902 <br /> <br />Agreement has been reached with the Board of Direct- <br />ors of the District on the conditions required to be met in <br />extending the development period. The District Board will <br />meet later this month to approve the form of an amendatory <br />contract. The amendatory contract should be in effect by <br />June 30, 1958. <br /> <br />The District Board has also agreed to negotiate <br />another amendatory contract to provide for fixing annual con- <br />struction payments,on the basis of a variable formula related <br />to amount of water available for use in P1atoro Reservoir. <br />Before this additional contract can be executed, however, <br />legislation will be required. Submission of the contract <br />proposal for legislative consideration would take place prior <br />to the end of the extended development period. <br /> <br />We welcome your support of a plan to place opera- <br />tion of this project on a solid foundation. With your help, <br />and with the fine spirit of leadership being demonstrated <br />by the officers and directors of the District, we believe <br />the operating and financing problems of the Conejos District <br />can be cured. <br /> <br />I <br /> <br />Sincerely yours, <br /> <br />fsf N. B. :BENNETT <br />Acting Associate Commissioner" <br /> <br />MR. MOSES: <br /> <br />"I would like to have this Board sup- <br />port the resolution of theConejos Water <br />Conservancy District in asking for an <br />extension of the development period for <br />five years and the fixing of a variable <br />repayment program." <br /> <br />MR. STAPLETON: <br />MR. MILLER: <br /> <br />"I so move." <br /> <br />"Second the motion." <br /> <br />The motion was unanimously passed. <br /> <br />Dean Crawford read excerpts from a resolution re- <br />ceived from the San Luis Valley Water Conservancy District. <br />This, and the letter of transmittal, were briefly summarized <br />by Mr. Moses. <br /> <br />I <br />