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<br />Answer. The Town's engineers have estimated the cost to <br />complete the first reservoir at 2.6 million dollars. This <br />includes $672,000 to replace the existing diversion structure and <br />transmission line which can fail at any time and which will have <br />to be replaced in the near future whether a reservoir is <br />constructed or not. <br /> <br />6. Question. How will the Town finance the project? <br /> <br />Answer. Cooley will pay 10% of all construction and <br />operating costs in exchange for the right to use 10% of the <br />available capacity to store its water. Additionally, a number of <br />other entities have indicated an interest in purchasing or <br />leasing a portion of the available capacity. Storage capacity is <br />in limited supply and a healthy market for this capacity exists. <br />A complete plan for financing the cost, including Morrison's <br />share, which may be less than half of the total cost, will be <br />developed over the next few years. Such a plan will undoubtedly <br />include as a source of funds tap or tap reservation fees for use <br />of the additional water supply which will become available. <br /> <br />To the extent that debt is necessary to finance any portion of <br />Morrison's share of the project cost, the voters of the Town of <br />Morrison will have to give their approval at a duly called <br />election. <br /> <br />7. Question. How do we know that Cooley will deliver the <br />site when it is supposed to? <br /> <br />Answer. <br />performance. <br /> <br />Cooley will provide financial assurances of its <br />(Draft Annexation Agreement-Paragraph 3.7) <br /> <br />8. Question. Will Cooley be required to abide by the same <br />standards and regulations under which it currently operates in <br />the County? <br /> <br />Answer. The standards and controls regulating Cooley will <br />be identical to those governing it in the County with a couple of <br />exceptions. Subject to approval of the Mine Land Reclamation <br />Board, the area Cooley can mine will increase by about 39 acres. <br />Additionally, Cooley will be permitted to remine and reclaim in <br />an improved manner an area that it has already mined in the <br />northern portion of the site. Upon completion of this new <br />reclamation, the visual impact of the quarry will be greatly <br />improved. <br /> <br />9. Question. How can Morrison expect to regulate a large <br />company like Cooley? <br /> <br />Answer. As in the County, various aspects of Cooley's <br />operation will be regulated by a number of federal and state <br />agencies, and the County Health Department, in such areas as <br /> <br />3 <br />