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<br />The completed project will provide the ditch company <br />with an additional 621 acre-feet of storage which can be used <br />for supplemental irrigation by the stockholders. In <br />addition, this reservoir enlargement will provide more flood <br />protection to the property owners below the dam since flood <br />storage equal to the 100-year watershed runoff volume (which <br />amounts to about 230 acre-feet) will be included between the <br />top of the irrigation water pool and the crest of the <br />emergency spillway. <br /> <br />Proposed Financing <br /> <br />The Soil Conservation Service has committed funds to <br />this project.. The ditch company is aSking the CWCB to <br />provide matching funds.. The recommended funding for this <br />project is as follows: <br /> <br />Handy Ditch Company <br />Soil Conservation Service <br />CWCB Funds (to be repaid by water user fees) <br />Total <br /> <br />$ 30,000 <br />295,000 <br />325,000 <br />$650,000 <br /> <br />Under this financing arrangement, charges would be levied by <br />the CWCB at the rate of $18,941 per year for 40 years for a <br />total repayment of $757,640. <br /> <br />Recommendation <br /> <br />It is recommended that the project as described be <br />recommended by the Board to the General Assembly for <br />authorization subject to the terms of the proposed financing <br />specified above. <br /> <br />2 <br />