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Show 80 WAR FOR THE COLORADO RIVER 6 - The power features of the project, Larson said, would be paid off at 2V2 per cent interest in 44 years, and then he presented to the committee a formidable array of maps, tables, and financial and engineering data on each unit of the project.92 Rep. Miller asked Larson if power from the project could be sold in the immediate area. "Yes," said Lar- son.93 Miller: "Was there enough run-off to fill Echo Park and Glen Canyon in a reasonable time?" "Yes." "Would Glen Canyon help to meet commitments to the Lower Basin and Mexico?" Larson: "Glen Canyon would be necessary for that purpose if the Upper Basin states were to use their 7.5 million acre-feet." Engle: "Do you concur that if we took Echo Park out it would be like taking the cylinders out of the engine?" 94 Larson: "Echo Park is the wheel horse of the Upper Basin." D'Ewart: "You have a six-mill rate. What is the cost of generating power in the area from coal, oil or gas?" Larson: "More than six mills. Possibly seven." 95 Engle wanted to know if it was correct that the irri- gators on the project would pay one-fifth of one per cent of the interest on the capitalization charged to irrigation for fifty years, and thereafter would have their obligation terminated.96 Larson huddled with Reclamation Commissioner Dexheimer, and they decided to ask for time to furnish an answer. When they supplied it, Engle's figuring was confirmed.97 |
