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r ~c 9 j; .....; FRYINGPA~-ARKANSAS PROJECT, COLORADO 17 One of t.he TIe,," matters that ,,'ill he coming IIp here nt t.his t,ime Iins to do with the interest formula. It is only right t.hat reclnmntion programs find all wnte-r l'e_SQnl'ce programs follow the s~lIne procedures and t,hat they have t.he same benefits and ha.Ye to bear t.he same respon- sibility. This project has been propo~ed heretofore with n 21h-percent interest rate whieh is lower thall the interest rate in most pl'ojeets. Now we brin~ it in line with t.he other formula. applicable to a.Il water ]"(~~ource proJects. 'Ve han~ also the question of repaYlJlent. and the term of repayment. It. is genernlly accepted t.hat 40 years plus 10 years dCH:>.loplllent is a (~(ll'l'(,ct J'e,payment pe-riod for l'eelamation. This project. has ne\'er !.pen eonsid.,..red on tha.t basis until now and now we consider it on Do repayment basis of :")0 years from thr- time of completion of the p<\ltitular part. of t.he projed, bringing it illto direct alignment with recognized reclamation policies. 'Ye also have the quest.ion of alloeat.lon of tlw cost of construction on the rep~lymellt for Ruedi Resen'oir which is a. new program with t.he new reservoir to be built il":i a compensator'V reser11Oir. :May I ~ay t.o m.y friends from the sOl1t.heastel'll part, of Colorado, I think it i:-. a. wondl~rfl1l posltion that yon haye taken. tha.t until the t.ime when t.he, water users of t.he R.uedi Re~el'\'oir C:Ul pay for this nroject that. you yourselves arc rendy and willing to see that lJncle Snm is rep~lid, To me, that makes this project l'e:uly for consid- prntion. .Another thing that is ne.w! and one wlti(~h we n1l1st Ilflve S0me t.estimony on during these hearings, llns t.o do wit,ll the pO:-isible fnture lIses of the waters which are to be stored in Hlledi and whi('h aI.:~ to be used in westcnl Colorado not. only as exchange water::;, hut 'iis new primary uses, "'e must have something~ we must write some kind of a legislative history on that. rroposit.ion or we willlJP' eternally plagued with the proposition just lIke we h:1\"e been in the Green !Iountain R.eservoir project. Remaining new matter hns to do .with an.'~ clarification lle/~essary in the j'e\'i::;ed operating principles so we all will understand what is involved, At long last \....e have comparative agreement between eastern ann west(,-l'll Colorado people. 'Ve have not remO\-ed the opposition of all segments heefluse we st.ill have some in the Pitkin County area, but it is opposition whieh is reeognizNl. Those who !'uPPOl't. t.his opposit.ion are honest in their posit.ion_ There is no qnes- tion about that. I t.hink our legislnt,iye history should be written to s.how it will be plain and clear thnt the Hsers 'of western Colorado nre not. p,ndnngered hy what. is proposed in this legislation. 'Vit.h thnt in mind, I think that we can pl'oceed ,'ery quickly ,yith tl.\is !eg-islnt.ion. 'Ve can hear any Jlew t.estimollY that has come in ob. the-se particular matters I have sugge:-ited j we cnn refuse to repeat, if that, is possible, matters that '!l'e ,,'ready in the record, because we do ht\ve. a volllmlno\ls re('Ard. For the new members of the committee \':110 will hear this pres- entation mo~~i!ttain].y .we wi]] ~ish to take tll,!i,~i.me so that they can understand J . .;what IS lI1vo]ved 1I1 tIllS ]eglslatwIY; Thank vou I.r. Chairman. Mr. ROGE"". The Chair will now recognize Mr. Che~oweth, of Co]o- rado, author of H. R 2207, for any statement he may desire to make. ~ l'.lf ~ :l~ .