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<br />through the ewCB's construction fund program (5 percent interest <br />rate amortized over 40 years) or through the issuance of revenue <br />bonds by a tax exempt, political subdivision of the state (12 <br />percent interest rate amortized over 30 years). TheSe estimates <br />are $284,388,000 and $414,155,000, respectively, the differences <br />being attributable to the diffe~ent interest rates and financing <br />requirements of each approach. <br /> <br />The total annual costs, based on a 1991 on-line date, are <br />$19,571,000 and $48,106,000 for the CWCB funding and revenue bond <br />financing approaches, respectiv~ly. These annual cOsts include <br />debt service and operation, maihtenance and replacement costs. <br />In 1982 dOllars, the costs would be $9,488,000 with ewCB funding <br />and $23,322,000 for the revenue bond financing approach. <br /> <br />SCHEDULE <br /> <br />A project on-line date of June 1, 1991 would be practical if <br />a decision to continue detailed studies was made by mid-1983. <br />The critical items of the schedule to achieve this on-line date <br />would be Federal Energy Regulatory commission licensing <br />requirements and railroad relocation, which relocation would have <br />to be substantially completed before construction of the dam <br />could begin. <br /> <br />-7- <br />