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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />the benefit to cost ratio of the reservoir and dam repair is as follows. <br /> <br />Benefit/Cost = [$2,500 x 1542 A-Ft] -7- $487,125 = 7.91 <br /> <br />COLLATERAL <br /> <br />OILC can offer the following collateral for the CWCB loan: <br /> <br />1. The revenue from assessments as allowed by the Company By-Laws and <br />Articles of Incorporation. <br /> <br />2. A certificate of deposit account in the amount of one annual payment to be <br />held by the State Treasurer. <br /> <br />3. The project itself. <br /> <br />IMPLEMENTATION SCHEDULE <br /> <br />The following schedule is proposed for implementation of the project based on the two <br />phases as outlined above. <br /> <br />Task <br />1. <br />2. <br /> <br />Feasibility Study <br />Construction <br />Loan from CWCB <br />Start Construction <br />Finish Construction <br /> <br />Tarqet Completion Date <br />6/01/2003 <br /> <br />07/30/2003 <br />09/01/2003 <br />12/15/2003 <br /> <br />SOCIAL, ECONOMIC, AND PHYSICAL IMPACTS <br /> <br />The project will have positive social impact as the reservoir is utilized for recreation. This <br />project will reduce the possibility of a storage restriction being placed on the reservoir. <br /> <br />The project will have a positive economic impact by assisting the Company to more <br />efficiently provide irrigation water to approximately 3600 acres of irrigated farm land. <br /> <br />The project will have no significant physical impacts except in the immediate vicinity of the <br />construction. These impacts will be minor in nature and will affect only a small area of less <br />than 1/2 acre. <br /> <br />Rehabilitation of Seeley Lake Outlet - Feasibility Study <br /> <br />Page 10 <br />