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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Although, at this stage, there is no firm committment from <br /> <br />either the FmHA or the FCRC, it is assumed that they will participate <br /> <br />in the project financing by a combination of grant and loan. <br /> <br />The proposed financing is therefore as follows: <br /> <br />Federal Grants and Loans <br /> <br />$675,000 <br /> <br />state Funds (to be repaid <br />by water use charges) <br /> <br />175,000 <br /> <br />$850,000 <br /> <br />Under this arrangement, water use charges would be levied by <br /> <br />the state at the rate of $7,570.50 per year for forty years, for a <br />IGll~q , <br />total repayment of $302,820~'v3C <br /> <br />The current water rates within the town are $3.90 per month <br /> <br />per tap. with the proposed construction, the future water rates <br /> <br />may have to be increased to about $12"00 per month per tap, with <br /> <br />new tap fees being increased from $450 to $1,000 in 1977. <br /> <br />It is hereby recommended that the project, as described, be <br /> <br />constructed by the Colorado Water Conservation Board to the extent <br /> <br />of $175,000, with the provision that the town furnish additional <br /> <br />funding to the extent of $675,000 and that the project be recommended <br /> <br />and submitted to the Colorado General Assembly during the 1978 <br /> <br />session as priority number five. <br /> <br />FLS:tam <br /> <br />-4- <br />