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I I MR. SAUNDERS: MR. STAPLE1DN: MR. SAUNDERS: MR. STAPLETON: MR. PETERSON: MR. STAPLETON: l333 that the date that the project money is available to us has no particular consequence as long as it comes within the fifty year period. In other words, we build a project and it is completed in 1960 and we put a ten year development period on top of that, that makes the project start to repay under ex- isting law in 1970 and we have fifty years after that to repay. That brings us to the year 2020 so if the project revenues will come in by the year 2020, that means we can complete the project in 1960." "Mr. Chairman." , "Mr. Saunders." "I think you could hardly count on any amendment to this legislation. It was passed after compromise and over consid- erable opposition and any amendment to that legislation mIght destroy the whole thing. There are so many things involved and there are so many enemies that had to be overcome that this is a boat I think we had better not rock. If we need the money somewhere, we had better try to launch a new boat rather than to rock this one. No matter how desirable Mr. Peterson's plan is, the need is not perogative to legislation that was launched after so much effort." "I appreciate your comments, Mr. Saunders. I think what Mr. Peterson wants is to see where the other boats can be located and I think, if it is all right with you, Mr. Peter- son, let's close the discussion by asking our Director to come up with some type of report to you after talking with our con- gressional delegation this week. Would that be satisfactory to you?" "That would be satisfactory, yes." "For the information of the members of the Board, we will have our usual luncheon for Board members only at the Olin Hotel about 12:15. Before the members of the Legislature go I wonder if any of them have any comments, etc. We are delighted to have you here and we appreciate your in- terest. We hope you will come back to our