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<br />As of January 1979, the Service estimated that reimbursable project costs had <br /> <br />increased by $lj.70 million, from $302 million to $772 million. An analysis of the <br /> <br />study upon which this estimate w!l5 based disclosed that CUWCD or other parties <br /> <br /> <br />shouJd repay costs of $35lj. million rather than $156.3 million. This study further <br /> <br /> <br />shows that BU and CRSP power revenue should repay the remaining $lj.17 million of <br /> <br />reimbursable project costs. A comparison of anticipated revenue sources to be <br /> <br />used for repayment of reimbursabJe project costs as estimated by the Service in <br /> <br />J 965 and 1979 is shown beJow: <br /> <br /> (000 Omitted) <br />Revenue sources J965 1979 Increase <br /> - <br />Water sales to irrigators $ 16,400 $ 69,000 $ 52,600 <br />Water sales to Meld water users 29,263 163,323 13lj.,055 <br />Ad valorem taxes 35,005 11 122, !II-I ~I 37,136 <br />Subtotal 130,673 354,464 223,791 <br />Power revenues-BU and CRSP 171,352 4i6,540 245,183 <br />Repayment credits -0- 1,038 1,083 <br />Total $ 302,025 $ 772,092 $470,067 <br /> <br />1/ The $85,005 ad valorem applies $47,000 to M&:l and $38,005 to irrigation. <br />~I The $122,141 ad valorem applies $34,136 to M&:I and $33,005 to irrigation. <br /> <br />It should be noted that while the above anaJysis shows that the amount irrigators <br />will repay has increased from $16.4 million to $69 million, the repayment contract <br /> <br />contains no provision for raising the irrigators' repayment obligation to the <br /> <br />increased or any other amount. <br /> <br />An October 1977 memorandum and a December 1978 study on the 8U both address <br /> <br />the issue of construction funds exceeding repayment limitations of the CUWCD <br /> <br />contract. The latter study states that construction expenditures would not exceed <br /> <br />contract repayment obligations until fiscal year 1981. This document also states <br /> <br />13 <br />