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<br />'." <br /> <br />of Colorado's resources, to inform the Board <br />and solicit policy views of this Board in <br />connection with any proposal of this type. <br /> <br />I <br /> <br />The cOntract is in draft form. It is <br />in a status ready for submission to the Com- <br />missioner and Secretary for final review but <br />with the processing we wish to submit the <br />views of the Board on the policy. <br /> <br />I think it is important to know that in <br />the contract we have recognized the provisions <br />of the law on the river, the Colorado River <br />compact, the Colorado River Storage Project <br />Act, Senate Document 80, the cOUrt decrees, <br />and the contract with the Northern Colorado <br />Water Conservancy District. The contract <br />would, of course, be subject to any provisions <br />of those laws and would be on an option basis <br />similar to the contract that has been entered <br />into with Crown-Zellerbach. <br /> <br />It is our intent, of course, to maintain <br />the integrity of all the water rights on the <br />river and other provisions of law. As has <br />been pointed out by Mr. Sparks, this water <br />service would come from the 100,000 acre-feet <br />pool and not from the 52,000 acre-feet pool <br />dedicated to provide replacement for the Colo- <br />rado-Big Thompson Project. The term 'replace- <br />ment' has been used because the Colony Develop- <br />ment would draw upon the storage placed in <br />Green Mountain to the limits provided in the <br />contract to make replacement in order that <br />they might make use of the decree they hope <br />to get on the river." <br /> <br /> MR. STAPLETON: "Thank you, i4r. Dugan. " <br />I MR. NELSON: IIMr. Chairman. " <br />MR. STAPLETON: IlMr. Nelson. " <br /> MR. NELSON: "I should like to ask Mr. Phil Smi th if <br /> he has anything to say. " <br />