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I I I I I I I I I I I I I I I I I I I 3. Expansion of Harper Lake to a capacity of 715 acre-feet as presented under Alternate II is the most feasible of the seven alternative storage reservoir configurations which were ana- lyzed. The total cost of the project would be $3,562,000 as of the projected completion date of November 1984. 4. Harper lake Alternate II was concluded to be financially feasible since the payout schedule demonstrated adequate funds in all years during the life of the project. B. RECOMMENDATIONS Based on the results of the study and foregoing conclusions, the following recommendations are made: 1. The water taps that become available when the additional storage is obtained were assumed to be distributed over a 6-year period, with about 200 taps issued per year during the years 1984 through 1988 and 160 taps issued in 1989. Since the distribution of these taps is critical to the financial feasibility of the project, at least 200 taps per year should be issued over a 6-year period and preferably more taps per year, should the economy permit the growth. 2. Two alternatives for financing the Harper Lake Project should be considered. The first alternative would be to obtain a cash advance from the Colorado Water Conservation Board for 50 percent of the project cost and finance the remaining 50 percent of the project through a municipal bond issue. The second alternative would be to obtain financing of the entire project cost through a loan from the recently created Colorado Water Resources and xiii - - ----_._-- ---~._~------------~-------- __ __ __m_ n_ _ _ _ _________ __ __ _ _