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<br />003J78 <br /> <br />3 <br /> <br />authorized and anyone or part of them or as many as possible can be built. <br /> <br />In January 1980 the State Legislature authorized the Board of Water Resources <br />to sell a second $25 million in bonds. This new issue is a little bit different <br />program in that the legislature did not specify the projects which would be eligible. <br />There are about 20 priority projects which will apply for the first $25 million. <br />The Governor in his message to the legislature recomm~gding the second issue <br /> <br /> <br />suggested that his goal was to get $100 million in revolving money. Utah is <br /> <br /> <br />building or designing and planning primarily irrigation projects, but has some <br /> <br /> <br />notable industrial projects. <br /> <br />. <br /> <br />In the first bond issue the State intends to build a dam on the White River, <br />tributary to the Green. The proposed dam is in the heart of the Ua and Ub <br />uranium fields. Utah looks at the White River Dam as a State initiative to <br />develop the waters of that area so that when industry has a need for water the <br /> <br /> <br />State will be able to control to some extent the market in terms of water supply. <br /> <br /> <br />The supply will be available and Utah contemplates that the dam will always be <br /> <br /> <br />a State project so that several large oil companies won't be coming in and <br /> <br /> <br />jockeying for water. The legislature bought the project and it was sold entirely <br /> <br /> <br />on the idea that Utah should not wait until the need (for water) was there. <br /> <br />Mr. Lawrence stated that the White River Dam will be a little over 100 feet <br />high with about 180,000 acre-feet of total capacity and the State has developed <br />recreational aspects. In the early years of operation the reservoir level will <br />be quite high and the State expects to develop ,a hydro plant in connection with <br />the reservoir. <br /> <br />One of the problems with this first $25 million is that the people who buy the <br /> <br />bonds will get the advantage of tax free feature of municipal type bonds. The <br /> <br />B-3 <br />