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Show 8 BOULDER CANYON PROJECT the Government will in the first instance advance funds for the construction of the works, all advancements will be repaid to the Government within 50 years and those for purposes other than reclamation, with interest at 4 per cent per annum. Moreover, the bill specifies that no money is to be advanced until the Secretary of the Interior has secured contracts for the delivery of water and for power assuring the Government full repayment of its outlays with interest. The authorized appropriation is $125,000,000, covering $41,500,000, the estimated cost of the dam; $31,000,000, the estimated cost of the canal; $31,500,000, the estimated cost of a power plant at the dam; and $21,000,000 interest during construction. The last item, however, represents no active appropriation, but is solely for the purpose of returning to the General Treasury interest upon the other $104,-000,000 during the period of construction and before the works can begin to yield a return. It is largely a bookkeeping arrangement to fix the amount for which beneficiaries of the project will be charged. Again, the building of a power plant at the dam is left optional with the Secretary of the Interior. If he elects not to build the plant, but instead to lease the rights to use water for power generation, the $104,000,000, representing the total cost of the works authorized will be reduced to $72,500,000 and the item of interest during construction will be correspondingly reduced. FINANCIAL FEATURES OF BILL PREPARED BY TREASURY DEPARTMENT Particular consideration has been paid to the financial features of the bill. As they appear, with slight modifications in the form of committee amendments, they are in the form prepared by the Treasury Department and may therefore be said to be suitable and appropriate both to the carrying out of the project and to the requirements of that department. PURPOSES OF PROJECT The project will serve four main purposes: (1) It will relieve a very serious and ever-present flood danger to the Imperial Valley as well as other sections along the lower river both in Arizona and California. Imperial Valley occupies a sink or basin lying from 100 to 350 feet below the head of the river. It has no drainage outlet. Hence its flooding means its permanent destruction. (2) It will end an intolerable situation, under which the Imperial Valley now secures its sole water supply from a canal running for many miles through Mexico, as well as make possible the reclamation of public lands lying around the rim of the present cultivated section of the valley. (3) It will conserve flood waters of the river which in addition to providing for irrigation development will make it possible for cities of Southern California to contract for and secure a domestic water supply from the water thus saved. (4) It will create a large amount of desirable hydroelectric power, making the project a financially feasible one. The construction of the dam in addition to providing efficient flood control and making available the flood waters for irrigation and domestic uses, will fully regulate the flow of the river. With |
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Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |