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<br />. <br /> <br />. <br /> <br />Page 2 <br /> <br /> <br />D. Commencing upon repayment of costs identified In Paragraph l(B), or <br /> <br /> <br />not later than the beginning FY 1995; a composite rate of 8.5 <br /> <br /> <br />mills/kwh would be distributed directly to the four Upper DIvision <br /> <br /> <br />states for their use in financing water projects to develop the <br /> <br /> <br />waters of the Colorado River, said revenues to be available as a <br /> <br /> <br />state. may choose for the construction of new projects (CRSP <br /> <br /> <br />participating projects and/or other federal or state projects), and <br /> <br /> <br />repairs and rehabilitation of existing projects. <br /> <br /> <br />2. With respect to these four components: <br /> <br /> <br />A. The power rate would be adjusted annually for component A, subject to <br /> <br /> <br />the applicable rate review procedures. <br /> <br /> <br />B. Component B would be established and effected in January 1990. <br /> <br /> <br />subject to applicable rate review procedures. . It would be adjusted <br /> <br /> <br />annually as necessary. It would expire during the course of FY 1994' <br /> <br /> <br />upon repayment of the power investment. <br /> <br /> <br />C. Component C would be initially established subject to the applicable <br /> <br /> <br />rate review procedures, would thereafter remain unchanged, and would <br /> <br /> <br />expire upon the repayment of the debt incurred for the specified <br /> <br /> <br />purpose. <br /> <br />D. Component D would automatically be set at a composite rate of 8.5 <br /> <br /> <br />mills/kwh in January 1995. and would be adjusted annually by indices <br /> <br /> <br />applltable to water project construction. Rate review would be <br /> <br /> <br />limited to annual Index adjustments after the 8.5 mills/kwh were <br /> <br />Initially put Into effect. <br />