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<br />SECOND ANNUAL REPORT ON THE COLORADO RIVER <br />, <br />STORAGE PROJECT AND PARTICIPATING PROJECTS <br /> <br />INTRODUCTION <br /> <br />Legislation authorizing construction of the Colorado River storage <br />project and participating projects was enacted into law (70 Stat. 105) <br />on April 11, 1956. The act initiated an extensive program for the <br />development of water resources in the Upper Colorado River Basin. <br />Authorized for construction were 4 initial units of the Colorado River <br />storago project on the Colorado River or its larger tributaries, pri- <br />marily for river rcgulation find power production, and 11 participating <br />projects for irrigation and other related purposes. Construction of <br />tlw Curecanti unit, one of the four authorized units, is not to be <br />undertaken until the Secretary of the Interior has certified to the <br />Congress and to the President that, in his judgment, tbe benefits of <br />such unit will exceed its costs. Completion of this special report is <br />scheduled for the early part of calendar year 1959. <br />Section 6 of the act stipulates that on January 1 of each year the <br />Secretary of the Interior shall report to Congress for the previous <br />fiscal year: <br />1. Status of revenues from, and <br />2. Cost of constructing, operating, and maintaining the <br />Colorado River storage project and participating projects (here- <br />inafter referred to as the project). <br />The report is to be prepared so as to reflect accurately the-- <br />3. Federal investment allocated at that time to power, to " <br />irrigation, nnd to other purposes; <br />4. Progress of return and repayment thereon; and <br />5. Estimated rate of progress, year by year, in accomplishing <br />full repayment. <br />The proj ect is still in the initial stages of construction and no <br />ineorne-producing facilities were in operational status during the <br />year. For these reasons this report deals primarily with the con- <br />struCtion progress to June 30, 1958, which is the forepart of item 2 <br />above. Limited comments are furnished with respect to the remain- <br />ing items required to be reported upon. <br /> <br />1. STATtJS OF REVENUES <br /> <br />Thore were no revenues from water rental, water sales or from sales <br />of electric energy during tire fiscal year. Revenues to date have been <br />limited to rionoperati'ng income derived from grazing leases wbich at <br />June 30, 1958, aggregated $3,566 as follows: <br />Particulars: Amount <br />~ri~:~~~~a::::::===:::::::::=::::::::::::::::::::::::::::::: $~;l~~ <br /> <br />Total_____________________________________________________ 3,566 <br />1 <br /> <br />