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<br />FIRST ANNUAL REl>ORT, COLORADO RIVER STORAGE <br />PROJECT AN)l PARTICIPATING PROJECTS . <br /> <br />I <br />I <br />i <br /> <br />INTRODUCTION <br /> <br />On ~pril11, 1956, le.~islation aut~o.rizi'.'g cons~ruction of. the C.olo- <br />rado RIver storage proJ~ct and partIClpatmg projects was sIgned mto <br />law (70 Stat. 105) by the President. The act initiated an extensive <br />program for the develop)nent of water resources in the upper Colorado <br />River Basin. . Authoriz.ed for construction. were 4 initial units of the <br />C?lorado Riv~r st~ll'ag~ p~oject on the Colorado River or i~s larger, <br />trIbutarIes, prImarIly fo). rIver regulatIOn and power productIOn, and <br />11 participating projects for !rrig~tion and oth~r rela~ed purrose~. <br />ConstructIOn of the CqrecantI umt, 1 of the 4 authorIZed umts, IS <br />not .to be undertaken ujltil the Secretary of the Interior has certified <br />to the Congress and 00 the President that, in his judgment, the <br />benefits of such unit wilil exceed its costs. <br />Section 6 of the act ~tipulates that on January 1 of each year the <br />Secretary shall report t'l Congress for the previous fiscal year- <br />1. Status of revepues 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 prep',ared so as to reflect accurately the- . . <br />3. Federal investment allocated at that time to power, to <br />irrigation, and to other purposes; . <br />4. Progress of revurn and repayment thereon; and <br />5. Estimated rat" of progress, year by year, in accomplishing <br />full repayment. i <br />During the first fiscal year of the project, which ended June 30, <br />1957, activities were cdnfined to initiation of construction on 3 of <br />the 4 storage units and cPntinuation of investigations on the Curecanti <br />storage unit and the 11 participating projects authorized for con- <br />struction by the act. i <br />This report deals prilnarily with the status to June 30, 1957, of <br />the cost of constructidn and of investigations related thereto or <br />financed from project Nnds, as required to be reported under item 2 <br />above. The statements nnder each of the other matters required to <br />be reported upon will Be expanded in future annual reports as the <br />activities pertaining to ~'hem progress. <br />, <br />1.: STATUS OF REVENUES <br /> <br />Nonoperating revenuts amounting to $1,443 arisingfrom grazing <br />leases accrued to the project during fiscal year 1957. However, there <br />were no revenues fromi water rental, water sales, or from sales of <br />electric energy during the period. For this reason no statement of <br />revenues accompanies tJ;Us first annual report. <br />1 <br /> <br />