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<br />,L <br /> <br />"'''~l.!../Ol <br />~~ ~; :..: j t ~ <br /> <br /> <br />\ <br />, <br /> <br />-,\ <br /> <br />, <br /> <br />5 <br /> <br />extend the period of indebtedness as much as humanly possible <br /> <br />under the present conditions. Mrs. Sutherland's estimate of <br /> <br />the period of indebtedness is optimistic but oot reali"tic. <br /> <br />We are happy to hear that the Concerned Ci tizens Under the <br /> <br />. Closed Basin now no longer propose to substi fute tocal purchase <br /> <br />and opera tion of the Terrace Irriga tioo Company <br /> <br />for the Closed Basin project. It is not and never has been An <br /> <br />acceptable substitute as it is now proposed. <br /> <br />Referring to the eleven assumptions which Mrs. Sutherland <br /> <br />stated that this Board had made before supporting the Closed <br /> <br />Basin legislation as presented over KG1W on Friday, September 29: <br /> <br />First assumption: <br /> <br />The Supreme Court would reac ti va te the <br /> <br />sui t brought by New Mexico and Texas as a result of our in- <br /> <br />debtedness to them. <br /> <br />Mrs. Sutherland stated that is was her opinion that the suit <br /> <br />would not be reactivated if the debt was "whittled down". We <br /> <br />do not know what th.. tern "whittled down" means; howevt'r thi8 <br /> <br />Board has been assured by our Rio Grandf' Compact Commissioner, <br /> <br />by competent lawyers and by personnel of the Colorado Water <br /> <br />Cons,'rvation Board that should we fail to meet our scheduled <br />