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<br />. <br /> <br />. <br /> <br />. <br /> <br />Conclusions and Recommendations <br /> <br />The feasibility study for this project shows that without <br />the dam rehabilitation, further restrictions on the storage <br />allowed in the reservoir are sure to be imposed. Delay of the <br />project will deprive the users of increasing amounts of valuable <br />irrigation water and will increase the threat of substantial <br />property damage due to flooding as a result of dam failure. <br /> <br />The recommended funding for this project is as follows: <br /> <br />Minnesota Canal & Reservoir Co. (grants &Ior loans) <br />State Funds (to be repaid by water users) <br /> <br />- $397,080 <br />- $397,080 <br />$794,160 <br /> <br />Total <br /> <br />Under this financing arrangement, charges would be levied by the <br />State at the rate of $23,142 per year for 40 years for a total <br />repayment of $925,680. The users currently pay $12 per share for <br />water and with this project the cost would probably increase to <br />about $25 per share. <br /> <br />It is recommended that this project be recommended by the <br />Board to the General Assembly for authorization in the amount of <br />$397,080, with the stipulation that the Minnesota Canal and <br />Reservoir Company furnish additional financing to the extent of <br />$397,080, and that the Boards' investment be repaid per the terms <br />set forth above. <br /> <br />Ibm <br /> <br />-2- <br /> <br />.~ "0" <br />