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<br />CONCLUSIONS AND RECOMMENDATIONS <br /> <br />The companies assessed their shareholders 3 times the <br />normal annual assessment in 1980 to pay for the replacement of <br />their auxiliary diversion dam at the head works of their <br />respective ditches. This auxiliary dam is located on a side <br />channel of the South Platte River downstream from the main dam <br />which is the subject of this report. Due to the large special <br />assessment by the companies in 1980 they are short of funds <br />for capital improvements to their system. The recommended <br />funding for this project is as follows: <br /> <br />Company Funds (ASCS grant or Wichita Bank <br />of Cooperatives) <br /> <br />$110,000 <br /> <br />State Funds (to be repaid by water use <br />assessment) <br /> <br />110,000 <br />$220,000 <br /> <br />Total <br /> <br />Under this financing arrangement, charges would be levied by the <br />State at the rate of $6,411 per year for forty years for a total <br />repayment of $256,432. If an ASCS grant is obtained, the annual <br />payments on this project will amount to about $1.80 per acre <br />benefited. If private money has to be obtained, the annual <br />payments will be about $6.75 per acre benefited. <br /> <br />It is recommended that the project as described herein be <br />recommended by the Board to the General Assembly for <br />authorization in the amount of $110,000, with the stipulation <br />that the Beeman Irrigating Ditch and Milling Company and the <br />Meadow Island Ditch Company No. 2 furnish additional financing to <br />the extent of $110,000, the Board's investment to be repaid per <br />the terms set forth above. <br /> <br />gl <br /> <br />Revised 2/02/82 <br /> <br />-2- <br /> <br />I <br /> <br />I <br />