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<br />. <br /> <br />. <br /> <br />The annual amortization requirement plus the annual <br />costs of operations, maintenance and replacement will <br />be displayed as the total annual cost of the project as <br />of the on-line date. This annual figure will also be <br />expressed in 1982 dollars. <br /> <br />2. Revenue Bonding Approach--This approach assumes that a <br /> <br /> <br />political subdivision of the state (for example a <br /> <br /> <br />municipality, water conservancy district, water <br /> <br /> <br />conservation district, or the Water Resources and Power <br /> <br /> <br />Development Authority) would act as project sponsor. <br /> <br /> <br />It is further assumed that such an entity would issue <br /> <br /> <br />tax-exempt revenue bonds for repayment of all capital <br /> <br /> <br />costs plus short-term financing during construction. <br /> <br />The Contractor shall assume a reasonable schedule of <br />pre-construction and construction activities beginning <br />with planning and feasibility studies in mid-19B3 and <br />terminating with the on-line date of the project. <br />Expenditures for all activities will be staged and <br />escalated for inflation at a rate of eight percent per <br />year throughout the planning and construction period. <br />For the construction period, the cost of short-term <br />financing will be estimated at a rate of ten percent <br />per year. <br /> <br />-7- <br /> <br />--. . <br /> <br />'-A <br /> <br />- ->. <br />