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<br />FIFTH ANNUAL REPORT, COLORADO RIVER STORAGE PROJECT <br />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 the comprehensive development <br />and Use of the water resources of the Upper Colorado River Basin: <br />Initially authorized for construction are 4 storage units and 11 par- <br />ticipating projects, The storage units on the Colorado River and its <br />larger tributaries were authorized primarily for river regulation and <br />power production. The 11 participating projects will provide water <br />for j,'rigation of farmland and supply o/water for growing cities and <br />industries, Construction has been initiated on all units of the storage, <br />project and on the following participating projects: Florida, Hammond, <br />Paonia, Seedskadee, Smith Fork, and the VeI'nal unit of the central <br />Utah project, <br />Section 6 of the authorizing act stipulates that, on January 1 of <br />each year, the Secretary.of the Interior shall report to Congr~ss for the <br />previous fiscal year: . <br />1. Status of revenues from; and <br />2, Cost of constructing, operating, and maintaining the Colo- <br />rado River storage project and participating projects (hereinafter <br />referred to as the "project"), <br />The report is to be prepared 80 as to reflect accurat~ly the: <br />3. Federal investment allocated at that time to power, to <br />irrigation, and to other purposes; <br />f. Progress of return and repayment thereon; and <br />5. Estimated rate of progress, year by year, in accomplishing <br />full repayment. <br />The project is still in the initial stages of construction and no income- <br />producing facilities were in operational status during the year. The <br />report therefore, deals. primarily with tbe construction progress to <br />June 30, 1961. Limited comments are furnished with respect to the <br />remaining items requir~d to be reported upon. <br /> <br />'1. STATUS OF REVENUES <br /> <br />There were no revenues from water rental, water sales or from sales <br />of electric energy during the fiscal year, Revenues to date have been <br />limited to nonoperatin~ income from grazing leases and other mis- <br />cellaneous sources, and at June 30, 1961, these revenues amounted <br />to $39,860. <br /> <br />15 <br /> <br />