(1) The division is directed to undertake a study of the feasibility of developing the Bear River. This study shall include the following components:
(a) an assessment of present water supplies, uses, and rights and future water needs in counties within the Bear River Basin and along the Wasatch Front;
(b) an evaluation of alternative dam and reservoir sites;
(c) a review of preliminary design work;
(d) an update of the cost estimates;
(e) an assessment of environmental impacts;
(f) water quality analyses; and
(g) financial and economic analyses.
(2) The division shall:
(a) report to the task force on the progress of the studies upon the request of the chairmen; and
(b) report its interim conclusions and recommendations to the task force by October 31, 1990, and its final conclusions and recommendations by October 31, 1991.