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<br />. <br /> <br />. <br /> <br />the pipe section would be required. The estimated cost of this <br /> <br />project Is $250,000. <br /> <br />The benefit-cost ratio has been computed to <br /> <br />be 1.76:1. <br /> <br />CONCLUSION AND RECOMMENDATION <br /> <br />The Montezuma Valley Irrigation Company has been correcting <br /> <br />the deficiencies on Groundhog Dam for the past 2 years at Its own <br /> <br />expense. However, the cost of replacing the outlet works and <br /> <br />stilling basin Is more than the company can handle without <br /> <br />ou.tslde assistance. The recommended financing for this project <br /> <br />Is therefore as follows: <br /> <br />Private Funds (to be obtained by the company) $125,000 <br /> <br />State Funds (to be repaid by water use <br />assessments) 125,000 <br /> <br />Total $250,000 <br /> <br />Under this financing arrangement, charges would be levied by <br /> <br />the state at the rate of $7,285 per year for forty years for a <br /> <br />total repayment of $291,400. <br /> <br />If the private funds can be <br /> <br />obtained @ 16% Interest, then the total annual payback on this <br /> <br /> <br />project wIll be $28,000, which amounts to $0.80 per acre <br /> <br />Irrigated by this reservoir. <br /> <br />-3- <br />