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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Federal Grants and Loans <br /> <br />$ 920,000 <br /> <br />state Funds (to be repaid by <br />water use charges) <br /> <br />200,000 <br /> <br />Total <br /> <br />$1,120,000 <br /> <br />Under this financing arrangement, water charges would be <br /> <br />levied by the state at the rate of $7,312 per year for forty years, <br /> <br />for a total repayment of $292,480. <br /> <br />The current water rates are $8 per month per tap. Currently, <br /> <br />there are 52 users on the system, for an income of $416 per month. <br /> <br />with the proposed construction, the town would have to increase its <br /> <br />present water rates to about $14 per month per tap. Also, it would <br /> <br />have to charge a tap fee of $500 for all new customers. <br /> <br />It is recommended that an appropriation in the sum of $200,000 <br /> <br />be sought from the Colorado General Assembly during the 1978 session <br /> <br />for the town of Starkville. The proposed priority is number six. <br /> <br />FLS:tam <br /> <br />-5- <br />