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<br />. <br /> <br />CONCLUSIONS <br /> <br />The Rio Grande Oam and Reservoir serves several valuable <br />purposes, such as storage of irrigation water for the San Luis <br />Valley Irrigation District, flood protection for the inhabitants <br />who live downstream of the dam, and storage of water to assist <br /> <br />Colorado in meeting its obligations under the Rio Grande Compact. <br /> <br />Since the benefits of repairing the dam would accrue to <br /> <br /> <br />persons other than those in the district, the district argues <br /> <br /> <br />that, a port ion of the cost should be non-reimbursable. In <br /> <br /> <br />addition, the district's engineer has advised that in his opinion <br /> <br /> <br />the maximum capital investment which the district can repay is <br /> <br /> <br />$515,000, assuming repayment over 40 years with a service <br /> <br /> <br />charge of 5 percent. Finally, the district is requesting 100 <br /> <br /> <br />percent financing on the grounds that they do not have liquid <br /> <br /> <br />assets available with which to pay for a part of construction nor <br /> <br /> <br />can they obtain financing from any other source. <br /> <br />As proposed by the district, the funding for the project <br />would be: <br /> <br />State funds (to be <br />repaid by the district) <br />State funds (grant) <br /> <br />$ 515,000 <br /> <br />619,500 <br />$1,134,500 <br /> <br />. <br /> <br />-4- <br /> <br />,.:i.. ,-. <br />