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<br />..- <br /> <br />." <br /> <br />Goodhue Ditch and Reservoir Co. <br />March 16, 1995 <br /> <br />structure, and would like to use their $19,000 authorization for that project. This may be <br />possible since the 1995 Authorization is general (for "Rehabilitation of the Goodhue Ditch".) <br />However, I said that we will need a clear written description of the project, along with plans and <br />specifications. The project will also need to be bid, in accordance with our guidelines. We also <br />warned that it takes up to 4 months to complete contracting, and recommended that they start <br />as soon as possible to develop the project description and plans. <br /> <br />For future projects, I recommended that the company do a feasibility study to develop a long <br />term plan for rehabilitation of the ditch. This study, along with engineering cost estimates of <br />the work required, could be used to request an additional authorization in 1996. The interest <br />rate for this new authorization would be fixed, and would probably be in the range of 5 to 5.5 % . <br />The authorization could be used to accomplish projects in an orderly fashion, and there would <br />be no interest costs until the funds were actually drawn. If the company wants to pursue this <br />option, work must start now on the required feasibility study, so that it can be completed by the <br />8/31/95 application deadline. <br /> <br />Attachment: Feasibility Study Checklist <br /> <br />cc: John Mayhoffer (mail) <br />Rich Koopmann (fax) <br />Jim Schreiter Mail) <br />Pete Johnson (fax) <br /> <br />C:\WP51\GOODHUE2.mem <br /> <br />2 <br />