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<br />~ <br /> <br />I. <br /> <br />Transfer income from one region to another. <br /> <br />2. <br />water resource <br />functions. <br /> <br />Transfer relevant functional responsibilities of <br />agencies to other agencies with related non-water <br /> <br />3. Adopt a higher discount rate in the range of eight <br />percent to twelve percent. <br /> <br />4. Use the new discount rate for previously authorized <br /> <br />projects. <br /> <br />5. Require the presentation of non-structural or total <br />water management alternatives whenever a structural project is <br />recommended. <br /> <br />6. Expand and strengthen the total water resource <br />management role of river basin commissions in both water resource <br />planning and implementation. <br /> <br />7. Allow the market system to operate as freely as <br />possible relative to water projects by selling water to the highest <br />bidder. <br /> <br />8. Establish institutions at the federal level whereby <br />instream flow needs could be identified, quantified and effectively <br />provided for through specific procedures. Compensation would be <br />provided to holders of existing rights whose uses are discontinued <br />through federal procedures. <br /> <br />9. Require state and local governments to adopt strategies <br />providing for instrearn flow needs through state laws, enforced by <br />federal sanction. <br /> <br />10. The federal government could review existing state <br />water laws to determine whether or not they promote equity, effi- <br />ciency and environmental quality consistent with federal policy. <br /> <br />II. The federal government could purchase water rights <br />and reallocate them to the most socially desirable or economically <br />productive use. This could be done through either vOluntary sales <br />or condemnation. <br /> <br />12. Provide for economic penalties in all federal water <br />supply contracts to apply to the consumptive use, measured by the <br />difference between the volume of water served and the volume returned <br />to the stream. <br /> <br />Memorandum <br /> <br />-2- <br /> <br />July 20, 1977 <br /> <br />Z506 <br />