Arizona republican., 1920-12-10

the association to complete the entire project.
 However, the association, under the
 laws governing the sale of bonds, is not permitted to sell the bonds at a
 private sale. Before the bonds can be
 sold they must be advertised, but in our contract with the eastern finan-
 cial institution we are guaranteed that at least one bid will be submitted. Ir brief. we are assured a market for oul
 bonds at a fair price. Whether or not
 this institution will finally purchase
 the bonds depends entirely upon the
 other bids, if any are submitted. We
 know, however, that this bidder is re-
 liable and can live up to all terms oi the contract"
 gate storage capacity of 1.110,00O acre feet will be constructed in the Para dise- Verde project, according to pres ent plans. These include the CamI Verde dam, with storage capacity oi S5O,000 acre feet; the Horseshoe dam with a capacity of 100000 acre feet and the Cave creek and New river dams, auxiliary reservoirs. eoch having capacity of approximately S5,O00 acre feet.
 Start Work Soon
 A series of power plants upon the Verde, as incorporated in project plans
 will develop 50.000- -horsepower-mort
 than double the capacity of all units
 in the Salt River project, it is said.
 Actual construction work on the pro ject will start as soon as the neces. sary preliminary steps can be com pleted, it was stated. This will be no
 later than spring or early summer o
 next year, Attorney Christy said yes
 terday.
 Prior to the sale of bonds, however
 an election must be held to determin ! whether or not landholders under tn
 proposed project favor bonding for tn
 purpose of constr ucting the projeci When this is finally determined af firmatively, as 1t undoubtedly will, the the association must advertise for bid . on bonds. Each of these steps require
 a period of from 40 to 60 days. Fol
 lowing the sale of bonds. the associa ton will advertise for bids on the con struction work. This latter step wi be taken immediately upon the sale c the bonds. v was announced. Estimates as to the cost of construct ing the project, including all reservoir and power plants fix the amount 6 2 approximately s15,000,000. This amour has been set aside by the eastern fin anciers, the announcement said, to h at once available when the bonds al e finally purchased. With costs of ma terials and labor slowly receding frol !, the peaks which existed at the time th : above estimates were made, it is be U lieved that the project can be com |. pleted in it's entirety at @ cost of al K proximately $12.O00,000.
 All Concrete
 a Every canal and all main latera .t will be of concrete construction, M r Christy declared. In this manner tf
 association will minimize loss throug Iseepage and evaporation.
 Even now, the announcement sai V crews of engineers are working at Il 9 reservoir sites, boring to determine Il ,- distance to bed rock as a basis fl ! letting of bids for construction. Tn IT is only one of the many preliminaI . steps to be taken before actual col Q. struction work can be started.
 Arrangements for financing the pr,
 ject were entered into several montl ,- ago, but their final consummation W; sr dependent entirely upon the succe Il, of MT. Christy's most recent intervie ,P with Secretary of the Interior JoI ,- Barton Payne and members of the fet in eral power commission, created und er a recent act of congress. Secreta, ,e Payne, last May, had approved all tl m maps, rights of way, reservoirs, cana
 and power plants, as proposed by il D. project, and incorporated in its pIa. at and specifications ae presented to hi TO at that time.
 " Enactment by congress of the fe at eral power commission act, howevt le aroused some doubt as to the legali III of the secretary's action. It was
 the purpose of determining all leg of questions beyond a reason of a dou -y that MT. Christy went to WashingU ld more than two months ago. ns All Proceeds to Association 's For the past 60 days he has had fir Id. quent council with Secretary Pay nd and members of the power commissiC an finally resulting in unqualified a
 proval of all proceedings as we'll m all project plans and specifications. an Under the terms of the federal pow he commission act 55 per cent of all rev he nue derived from power plants witl an reclamation projects will hereafter air to the reclamation service. For tl sh reason the point involved in the Was do ington proceedings was a wcighty c rot with the Paradise-Nerde associati ole The ruling, as finally approved, cc ur stitutes. in effect that the grant VI of made prior to the creation of the pow
 commission and, as @ result thereof, ,ar proceeds of power plants within n- project will belong 10 the associat
 itself