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<br />Page 14 <br /> <br />5. ESTIMATED RATE OF PROJECT REPAYMENT YEAR BY YEAR <br /> <br />A payout analysis of the Colorado River Storage Project and Partici- <br />pating Projects has been prepared to demonstrate the progress of <br />return, year by year, in accomplishing full repayment of reimbursable <br />project costs. Included in this analysis are the estimated costs of <br />the authorized development, four storage units, and sixteen partici- <br />pating projects allocated to reimbursable and nonreimbursable purposes. <br /> <br />All reimbursable costs, except as noted below, will be repaid in a <br />period of not more than 50 years from the date of completion of the <br />respective features thereof, including interest on the unpaid power <br />and municipal and industrial water investments, and following in the <br />case of irrigation a suitable development period of not more than <br />10 years. Irrigation vater users will repay in accordance with their <br />estimated ability for a period of 50 years except as provided other- <br />wise by separate authorization acts for the Paonia Project. Repay- <br />ment contracts are executed with conservancy-type districts which <br />have the authority to levy assessments upon all taxable real property <br />located within district boundaries to assist in repayment of project <br />costs. Revenues from power sales have been based on the present rate <br />schedule (R4-Fl) of $15.30 per kv-year and 3.0 mills per kv-hr of <br />energy. Revenues from the sale of municipal and industrial water <br />have been established so as to repay the municipal and industrial <br />costs with interest in not to exceed 50 years, consistent with avail- <br />ability of water and service provided. Revenues from power sales of <br />the storage units have been used, first, to pay operating costs; sec- <br />ond, to pay interest on the power investment; and third, to repay the <br />power investment and then the interest-free irrigation investment. <br />The municipal and industrial water revenues of the storage units have <br />been used to pay municipal and industrial costs in the same order of <br />priority and then to repay a portion of the interest-free irrigation <br />investment. <br /> <br />All revenues collected in the operation of the Colorado River Storage <br />Project and Participating Projects will be credited to and disbursed <br />from the Upper Colorado River Basin Fund. Accounts are being main- <br />tained to show (1) source of revenue and (2) the application of total <br />revenues. Surplus revenues in the Basin Fund, as defined in Section <br />5(e) of the Act of April 11, 1956, will be apportioned in accordance <br />with the authorizing act and utilized to assist in repayment of the <br />irrigation costs of participating projects. <br /> <br />Power costs as shown on the attached schedule would be fully repaid <br />in year 2003. Costs of the storage units allocated to municipal and <br />industrial water would be repaid in year 1992 and irrigation costs <br />