|
<br />~
<br />~
<br />~
<br />-'
<br />
<br />c
<br />
<br />6
<br />
<br />71ea:JWUj
<br />Ildo.anee:J
<br />and .b-H<j,
<br />7MHt :JJe'bt
<br />
<br />Illlocatkm
<br />"'7'teaduUf
<br />4do.anee:J
<br />/M
<br />:JJeI~
<br />{jlYtM<iii.J.ty
<br />e~:J
<br />and . 'tne1tf'f
<br />((aiM.
<br />
<br />(d) Installation of a selsyn water-level indicating system in
<br />the water treatment plant to show the water level in the
<br />new 2, 000, OOO-gallon storage tank.
<br />
<br />During the year the project received cash advances for con-
<br />struction purposes from the United States Treasury of $4, 050, 000,
<br />which, together with cash on hand at the beginning of the year, was
<br />sufficient to finance the construction program. While appropriations
<br />for the fiscal year ended June 3D, 1951, were $6, 100, ODD, we did not
<br />require the additional $2, 050, 000, thus saving the 30/0 interest charge
<br />that would otherwise have accrued on this amount, as well as on
<br />$2,500,000 not drawn from previous appropriations.
<br />
<br />Replyrnents to the Treasury amounted to $4, 500, 000 from reve-
<br />nues not otherwise required, of which $1, 221, 568.09 was applied to
<br />reduce principal and $3,278,431. 91 was applied to payment of in-
<br />terest on debt. Interest accruals on debt were fully paid up on
<br />May 31, 1951.
<br />
<br />The total long-term debt was $111,769,797.30 at May 31, 1951,
<br />excluding $25, 000, 000 allocated to flood control, which is deferred
<br />for repayment until after June 1, 1987, under the Boulder Canyon
<br />Project Adjustment Act.
<br />
<br />Since beginning of operations the project has paid in a total of
<br />$64,956, 302.41 to the Treasury, of which $50, 626, 159.09 was to
<br />satisfy interest accruals and $14, 330,143.32 was in reduction of
<br />principal debt.
<br />
<br />Under the Adjustment Act, it is required that the Advances to
<br />the Colorado River Dam Fund be segregated as between those ap-
<br />plied toward construction of generating machinery and equipment
<br />(for repayment in the generating charge), and those applied for all
<br />other purposes (for repayment in the energy rate). Under a later
<br />requirement of Public Law 841, effective June 29, 1948, a third
<br />category was added, namely: "non-project" expenditures, relat-
<br />ing to certain costs in connection with the expansion of Boulder
<br />City beyond normal project necessities, which is discussed else-
<br />where in this report.
<br />
|