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<br />Moonliqht Lateral <br /> <br />Introduction <br /> <br />. <br /> <br />The Moonlight Lateral is a 3.2 mile long earthen ditch <br />which is a part of the facilities owned by the Montezuma Valley <br />Irrigation Company (MVIC). It conveys irrigation water to <br />about 900 acres of land located 12 miles northwest of Cortez. <br /> <br />Problem <br /> <br />The Moonlight Lateral is experiencing excessive bank <br />erosion. A major portion of the eroded sediment is then <br />transported downstream into sprinkler systems, farm ditches. <br />overnight storage ponds, and other farm irrigation systems <br />creating operational problems. The lateral also experiences <br />excessive seepage in some locations, which not only reduces the <br />amount of water delivered to the irrigators, but it also <br />creates salinity problems to the owners underlying the seepage <br />areas. <br /> <br />Proposed Proiect <br /> <br />. <br /> <br />The Soil Conservation Service (SCS) has studied several <br />alternate solutions to the problems with the Moonlight Lateral <br />in a Resource Conservation and Development Project Measurement <br />Plan. According to the SCS plan, the most cost effective <br />solution to the lateral's problems would be to line the earthen <br />lateral for its entire length and to construct 13 structures to <br />convey natural drainage waters under the lined ditch. The <br />estimated cost of this project is $366,BOO. <br /> <br />The staff has eva]uated the study and finds the project to <br />be technically feasible. <br /> <br />Proposed Financinq <br />SCS Funds (grant) <br />MVIC Funds <br />CWCB loan (to be repaid by water users) <br /> <br />$226,800 <br />40.000 <br />100,000 <br />366,800 <br /> <br />Under the proposed financing, the MVIC would have to pay <br />CWCB $5,828 per year for forty years for a total repayment of <br />$233,120. Assuming that 1030 shareholders will benefit from <br />the project, each shareholder will have to be charged an extra <br />$5.65 for this project. <br /> <br />From the 1987 financial statement we see that the company's <br />income and expenses are over $300.000 per year. Assuming that <br />all of the SCS funds are grants, and that the Company has in <br />hand $40,000 for their share of the project, the $5828 yearly <br />repayment to CWCB represents only about a 2% increase in the <br />Company's current expenses. Also Checking the repayment <br />schedule submitted we could not foresee any problems. <br /> <br />The staff therefore had decided that the project is <br />... financially feasible. <br /> <br />/tmv <br /> <br />8063E <br />