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<br /> <br /> <br />. <br /> <br />. <br /> <br />smaller accumulated debit when and if the project becomes opera- <br /> <br />tional. The study is based upon historic sequence of events from <br /> <br />1936 through 1966. <br />The assumption in our study is that never at any time in <br /> <br />the future, after the project becomes operational, will Colorado <br /> <br />ever accrue any further debt. This means that even with the project <br /> <br />fully operational there will be years in which Colorado will have to <br /> <br />curtail river diversions which ordinarily would be made. The net <br /> <br />effect of the Section 4 limitation and our assumptions therefrom <br /> <br />is more favorable project benefits to the states of New Mexico and <br /> <br />Texas. Our study of the projected project operation is attached <br />hereto as an appendix. <br /> <br />We fully realize that the nonreimbursable aspects of this <br /> <br />project are troublesome. However, the reimbursable portions are <br /> <br />not without precedent or equity. The legislation being considered <br /> <br />provides that the annual average delivery of project water for com- <br /> <br />pact purposes shall not exceed sixty thousand acre-feet in any <br /> <br /> <br />ten-year period. This is the amount of water delivered by the <br /> <br /> <br />United States to the Republic of Mexico from that portion of the <br /> <br /> <br />Rio Grande River which originates in Colorado and New Mexico. The <br /> <br />remaining project water will be used to discharge the accumulated <br /> <br />debit. After that there will be approximately 40,000 acre-feet of <br /> <br />project water annually which must be paid for by Colorado water users. <br /> <br />-10- <br />