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revenues from the sale of water and power at favorable rates. 16. Phases I and II of the selected water plan would have a benefit to cost ratio of 2.1 to 1. They would pay out by 2044, or 50 years after the last increment is installed. Non-reimbursable purposes include flood control, fish and wildlife, recreation and area redevelopment. Reimbursable purposes include municipal and industrial water supply, irrigation and commercial power. Irrigation costs would be returned in 50 years, without interest. Municipal and industrial costs would bear 3 per cent interest, as would power, but would fell $_ short of repayment within 50 years. Power would pay out, with interest, by the year 1998, after which power revenues would provide M&I assistance until 2033. Thereafter power revenues would accumlate in the proposed Pacific Southwest Development Fund until 2044, at which time the Fund should have a surplus of approximately $2 billion from which future projects could be financed. Such a fund appears essential to meet the region's growing water needs after 1990. 17. To assure congressional control over future developments to be financed from the Fund, we propose that the Fund serve as a source of revenues from which Congress might make appropriations, and that each future project require specific statutory authorization to participate in the Fund. Need: pgh on power identify source of powerEpson Perfection 4870 Photo, 400 dpi, 24 bit, 48,001,024 byte