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<br />BEAVER PARK PROJECT, Continued <br />more water for existing crop irrigation and also allow more acreage <br />to go into production. It will also assure the Town of Penrose <br />that future water requirements due to an increasing population can <br />be satisfied. <br />The proposed financing for the project is as follows: <br />state funds (to be repaid by use changes) $315,000 <br />Funds by other agencies 315,000 <br />Total $630.000 <br />Under proposed financing arrangement, Beaver Park Water. <br />Inc.. would have to repay the state $13.668 per year for 40 years. <br />for a total repayment of $546.720. Annual payments would be <br />generated by water sales to the shareholders and the Town of <br />Penrose. <br />It is recommended that this project be funded by the ColOrado <br />Water Conservation Board to the extent of $315.000, with the pro- <br />vision that Beaver Park Water. Inc.. secure an additional $3L5,000 <br />in funds from others. and that the project be recommended and sub- <br />mitted to the Colorado General Assembly for authorization and <br />funding during the 1980 session. <br /> <br />JWMcD:tam <br /> <br />-3- <br />