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<br />~ <br /> <br />. <br /> <br />. <br /> <br />The proposed water system has been designed to accommodate a <br /> <br />. 50 percent increase in population that may Occur by the year 2000. <br />Future expansion of the system may be possible through development <br /> <br />of additional water supply and construction of water mains. <br /> <br />Water meters on each connection are included as part of the <br /> <br />recommended project. The total estimated cost of the project is <br /> <br />$500,000. <br /> <br />RECOMMENDATION AND PRIORITY <br /> <br />The residents of Larkspur are currently faced with an inadequat~ <br /> <br />supply of poor-quality water produced frOm individual shallow wells <br /> <br />scattered among a proliferation of sewage septic systems. The town <br /> <br />has no fire protection. The proposed project will el:iminate the <br />problem and allow an orderly growth in the area to be served. <br />Preliminary contacts have been made with the Farmers Home <br /> <br />Administration (FmHA) and other agencies, and it appears that a por- <br /> <br /> <br />tion of the required financing may be obtained through a combination <br /> <br />of grants and loans. <br />The proposed financing for the project is as follows: <br /> <br />Federal Grants and Loans <br /> <br />$300,000 <br />200,000 <br /> <br />state Funds (to be repaid <br />by use charges) <br /> <br />Total <br /> <br />$500,000 <br /> <br />Under the proposed financing arrangement, Larkspur would have <br /> <br />to repay the state $8,652 per year for forty years for a total <br /> <br /> <br />repayment of $346,080. Annual payments would be generated by water <br /> <br />sales, with an estimated average monthly bill of about $l5 per tap. <br /> <br />. <br /> <br />-3- <br />