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<br />. <br /> <br />Under this plan the District would have to repay the state <br />$17,484 per year for 40 years for a total repayment of $699,360. <br /> <br />If the District had to fund 50 percent of the entire cost <br />of the financing for the project it would be: <br /> <br />Fruitland Mesa Water <br />Conservancy District <br /> <br />$155,000 <br /> <br />Colorado 'Water <br />Conservation Board <br /> <br />155,000 <br />$310.000 <br /> <br />This arrangement would require <br />District to the State of $9,033,40 <br />$561,336, <br /> <br />an annual payment from the <br />for a total repayment of <br /> <br />Recommendation <br /> <br />The Board did not receive the application for a timely <br />review before the 1988 legislative session, <br /> <br />It is therefore recommended that funds for this project not <br />be made available by the Board until the Board has, in its sole <br />discretion, determined that the project is technically and <br />financially feasible. The project is being recommended without <br />a thorough Board review of a feasibility study. <br /> <br />/bj <br /> <br />-2- <br />