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<br />. <br /> <br />. <br /> <br />. <br /> <br />Conclusions & Recommendations <br /> <br />Construction of this proposed project will ensure that no <br />restriction is placed on the water users. The financial analysis <br />in the report shows that with this project the annual assessment <br />to the existing holders of the company's 400 shares of stock will <br />increase from the current $90 per share to $99 per share. The <br />report further shows that the repayment capability of the water <br />users is about $105 per share, so this is a financially viable <br />project. <br /> <br />The recommended funding for this project is as <br /> <br />follows: <br /> <br />Summit Reservoir & Irrigation Co. <br />(own reserves and proposed loan) <br />State Funds (to be repaid by water users fees) <br />Total <br /> <br />$35,000 <br /> <br />$35,000 <br />$70,000 <br /> <br />Under this financing arrangement, charges would be levied by the <br />State at the rate of $2,040 per year for 40 years for a total <br />repayment of ~81,6QO. <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 />$35,000, with the stipulation that the company furnish additional <br />financing to the extent of $35,000 and that the Boards' funds to <br />be repaid per the terms set forth above. <br /> <br />Ibm <br /> <br />-2- <br /> <br />// <br />