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<br />. <br /> <br />. <br /> <br />Agenda Item 19 <br />September 22, 1989 <br /> <br />(e) Revenues in the basin fund in <br />excess of the amounts needed to meet the <br />[foregoing repayment] requirements ... <br />shall be apportioned among the states of <br />the Upper Division in the following <br />percentages: Colorado, 46 percentum; Utah, <br />21.5 per centum; Wyoming, 15.5 percentum; <br />and New Mexico, 17 percentum; provided, <br />that prior to the application of such <br />percentages, all revenues remaining in the <br />basin fund from each participating project <br />(or part thereof), herein or hereafter <br />authorized, after payments, where <br />applicable, with respect to such projects, <br />to the general fund of the treasury under <br />[the foregoing repayment requirements] ... <br />of this section shall be apportioned to the <br />state in which such participating project, <br />or part thereof, is located. <br /> <br />Revenues so apportioned to each state <br />shall be used only for the repayment of <br />construction costs of participating <br />projects or parts of such projects in the <br />state to which such revenues are <br />apportioned and shall not be used for such <br />purpose in any other state without the <br />consent, as expressed throuqh its leqallV <br />constituted authority. of the state to <br />which such revenues are apportioned. <br /> <br />(Emphasis supplied). <br /> <br />In the context of the Central Utah Project, the consequence <br />of the apportionment formula is that only 21.5 cents of each <br />dollar of power revenue which is collected for the repayment of <br />construction costs allocable to irrigation can be allocated for <br />the repayment of the Central Utah Project. The other 88.5 <br />cents of each dollar collected goes to repayment of projects in <br />the other states, or is accumulated as surplus if a state has <br />more revenues than needed for repayment. Because the Central <br />Utah Project is very expensive, this drives the aggregate power <br />rate up, whether or not the other three states can use the part <br />of each power revenue dollar that is apportioned to them. Were <br />there no apportionment formula, the power rate would be lower. <br /> <br />-2- <br />