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<br />reasonable prediction of the time required to eliminate the accumulated <br /> <br />debit would be a period of from ten to fifteen years after the project <br /> <br />becomes operational. Under our assumption, we would not be permitted <br /> <br />to accumulate any further debits. Based upon this major modification <br /> <br />of the proposed project operation, it is our understanding now that <br /> <br />the States of New Mexico and Texas fully support the authorizing legis- <br /> <br />lation. <br /> <br />At the previous hearings on this matter, we introduced a <br /> <br />table which set forth our proposed method of project operation. We <br /> <br />have now revised that study. For the revised study, we used the <br /> <br />historic sequence of events from 1943 through 1966. This is a more <br /> <br />unfavorable period to the State of Colorado than the 1936-1966 period <br /> <br />used by the Bureau of Reclamation. The study shows that a debit-free <br /> <br />status could be achieved at the end of the eleventh year with a <br /> <br />repetition of the historic sequence portrayed therein. The study is <br /> <br />attached to this statement. <br /> <br />c ': :: 1 ~ ~: <br /> <br />The legislation provides that after the satisfaction of the <br /> <br />annual Mexican Treaty obligation and the debit created thereby, and <br /> <br /> <br />after the satisfaction of the requirements of the National Wildlife <br /> <br />Refuges, then any additional water shall be paid for by water users <br /> <br />in Colorado under reclamation law. We are willing to enter into <br /> <br />contractual arrangements for the use of any water in excess of the <br /> <br />prescribed requirements. <br /> <br />-5- <br />