Letter Concerning Report to Authorize Construction

Letter: To Henry M. Jackson, 1965 (carbon copy), page 33 project is 1.76 to 1 based on direct benefits only; Irrigation users would repay approximately 85 percent of the costs allocated to irrigation. The project meets the evaluation standards approved by President Kennedy in 1962 (Senate Document No. 97). Accordingly, the Bureau of the Budget has no objection to the authorization of this project. 2. Lower Colorado River Basin Development Fund The bills would establish a development fund consisting of surplus revenues available after repayment of the power investment in the existing Hoover and Parker-Davis Dams and anticipated surplus revenues from such other Federal dams as may be subsequently constructed. The fund would be used to underwrite the relatively small amount of irrigation assistance necessary for the Arizona project and could be used to provide financial assistance for such future projects as may be authorized. There are a number of precedents for the establishment of such basin accounts and the Bureau of the Budget perceives no objection to a similar account for the Lower Colorado River Basin. 3. Authorization of Bridge and Marble Canyon Dams Both bills would authorize the construction of hydroelectric dams at Bridge Canyon ($511 million) and Marble Canyon ($239Epson Perfection 4870 Photo, 400 dpi, 8 bit, 2,705,749 byte