So Bi-State TREATY does NOT set a miminum ...

Thanks, Scott -
Then per my interpetation of Dick's explanation, there is not a SPECIFIC minimum set out in the agreement - the commission guesstimates monies that will be needed a year or two down the road for CAPITAL (not operating) expenditures, and then implores the legislatures to supply the funds. New Mexico has been generous of late, so Colorado is more-or-less obligated to come up with a similar amount for CAPITAL expenditures.
Locomotive RESTORATIONS are clearly capital expenditures, but locomotive MAINTENANCE could be considered an operational expense ... I can see some loopholes here that might give Colorado some legal wiggle room. Maybe too much wiggle room ... like simply declaring certain capital expenditures unnecessary in their opinion, or to be "operating" rather than "capital" in nature.
Not a very bright picture at all.
- Russo Loco