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<br />. <br /> <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 />Budget <br /> <br />Weighted Payment Capacity Per Acre <br /> <br />(1) & (2) <br /> <br />400A _ 500A <br />900A ($~,92) + 900A ($7,25) = $5.77 <br /> <br />A detailed derivation of the net payment capacity. including farm bud- <br />get assumptions is shown in Appendix D, <br /> <br />REVENUES AND EXPENSES <br /> <br />Table 15 shows the essential revenues and expenditures during the pro- <br />ject. Current water assessments per AMIC share are $8.22 for AMIC and <br />$2.72 for the lateral associations. totaling $10,94 per share, This <br />assessment will cover estimated operating and maintenance costs. The <br />project payment of $200,000 per year will require an additional assess- <br />ment by AMIC of $5,77 per share, for a total water assessment of $16,71 <br />per share, <br /> <br />UTILIZATION OF PAYMENT CAPACITY <br /> <br />Administrative regulations require the use of 100 percent of the water <br />users payment capacity in repayment of a PL 984 loan principal, Payments <br />to the emergency fund and payments on prior loans from the United States <br />and CO-Op Bank can be included in the utilization of the payment capacity <br />but interest charged on excess M & I lands cannot be included, <br /> <br />The payment scnedule shown in Table 14 requires average payments of $5.81 <br />per acre per year over the 23-year repayment period including interest, <br /> <br />6-2 <br />