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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />1180 <br /> <br />Chapter 5 <br />PROJECT COSTS <br /> <br />ESTIMATE OF PROJECT COST <br /> <br />The total estimated project cost is $5,294.000 as shown in Table 12, at <br />April 1983 price levels, <br /> <br />The total estimated project cost includes a contingency of 20 percent <br />of construction cost estimates. 20 percent for projected price escala- <br />tion to the mid point of construction, and 15 percent estimated for' <br />engineering design and construction contract administration costs, <br /> <br />Of the $5,294,ODO total, $1,071,000 will be contributed by AMIC to the <br />project, No acquisition of water rights is required for the project, <br />The total includes $50,000 for Water and Power participation. The loan <br />obligation is $4,223.000. <br /> <br />FUND REQUIREMENT SCHEDULE <br /> <br />Table 13. Schedule of Expenditure of Federal Money, shows the funding <br />requirement for the construction period. Major construction activities <br />which interfere with canal operation will not take place during the ir- <br />rigation season, On this basis, it is estimated that V./O years will be <br />required to complete the project, beginning in the fall of calendar <br />year 1984. the first quarter of fiscal year 19B5, <br /> <br />INTEREST DURING CONSTRUCTION <br /> <br />All project water will be used for irrigation, Payment of interest ac- <br />cruing during the construction period will be paid on the proportion of <br />lands classified as M & I and in excess of the 960 acre li~itation. <br />Based on a two-year construction period with annual appropriations as <br />shown in Table 13, the interest accrued during construction would be <br />$297.800 with an interest rate of 7 7/8 percent. Of the total accrued <br />interest amount. $5.360 (1.8%). will be reimbursed. <br /> <br />OPERATION AND MAINTENANCE COSTS <br /> <br />Operation and maintenance costs are currently $284,920 for the Amity <br />System and $94,280 for privately owned lateral systems. for a total of <br />$379,200 per year. The rehabilitation of the existing system will in- <br />crease maintenance efficiency, but operation and maintenance costs of <br />the system are expected to remain at current levels to provide a higher <br />level of maintenance than in the past. <br /> <br />5-1 <br />