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<br />of the utilities in writing and hence the letters <br />and we asked that their proposals be made in <br />writing so there could be no misunderstanding <br />whatever of what was contemplated or what may <br />be done. <br /> <br />I <br /> <br />No member of the Colorado state Water Con- <br />servation Board asked to be heard or offered any <br />objections to the proceedings. Mr. Bert Hanna <br />of the Denver Post objected to the executive <br />session. And he stated why he was objecting. <br /> <br />Under the new investor-owned utility com- <br />bination proposal the following payments will be <br />made by the two systems. This money is used to <br />build participating projects. And in the tables <br />below you will notice the year, one list of the <br />payments the utilities would make under the new <br />plan and under the new concessions, and the <br />amount that the all-federal system would pay <br />into the Basin Fund. <br /> <br />Year Utilities All-Federal <br />2008 $ 1,180,000 Nothing <br />2009 22,707,000 .. <br />2010 22,707,000 .. <br />2011 22,707,000 .. <br />2012 22,707,000 $ 3,200,000 <br />Total $98,008,000 $ 3,200,000 <br /> <br />In 2012, on July 1st of that year, the all- <br />federal would pay into the Fund $3,200,000. <br /> <br />I <br /> <br />In each year thereafter the all-federal <br />will pay slightly more to the Basin Fund than <br />the utilities. The excess will be equal to the <br />ad valorem local taxes paid by the utilities in <br />Arizona, New Mexico, Colorado, Utah and Wyoming <br />on the transmission lines that serve the Storage <br />projects. Speaking personally, I kind of like <br />local taxpayers. <br /> <br />Mr. Kuiper believes the all-federal system, <br />when and if interconnected with the utilities <br />steam plant at Framington, will be able to make <br />greater payments to the Basin Fund than shown <br />above. <br />