|
<br />
<br />I
<br />i
<br />I
<br />I
<br />!
<br />
<br />I
<br />
<br />I
<br />
<br />I
<br />
<br />-,
<br />
<br />interest-free and would be repaid in 50 years, following varying
<br />development periods of up to 10 years as necessary, from the following
<br />sources: irrigation water users ($5,050,000), ad valorem taxes ($587,000),
<br />apportioned revenues from the Colorado River Storage Project ($45,069,000),
<br />and prepaid investigation costs from the Colorado River Development Fund
<br />and corttr1bueione ($315,000).
<br />
<br />Assuming prior repayment assistance commitments in Colorado for the
<br />Paonia, Smith Fork, Florida, Silt, Bostwick Park, Fruitland Mesa, and
<br />Savery-Pot Hook Projects which are either constructed, under con-
<br />,struction, or authorized participating projects, and with allowance
<br />for prior repayment assistance for the proposed Animas-La Plata,
<br />Dolores, Dallas Creek, and West Divide Projects, which have been, or
<br />are being considered for authorization as participating projects, it
<br />. has been determined that revenues would become available as needed to
<br />complete repayment in 50 years.
<br />
<br />Of the costs allocated ($11,415,000) to municipal and industrial
<br />water supply, $69,000 are associated with prepaid investigation costs
<br />financed from contributions and the Colorado River Development Fund.
<br />The municipal and industrial water users would repay the remaining
<br />costs ($11,346,000) allocated to that purpose with interest, including
<br />interest during construction, under provisions of the Water Supply
<br />Act of 1958, as amended. The costs would be repaid within 50 years
<br />after each block of water is first used. The repayment schedules in
<br />the attached report are based on initial delivery of 20,000 acre-feet
<br />of water in 1980 and the remaining supply of 24,000 acre-feet in 1990.
<br />In addition, the water users would pay all annual operation, maintenance,
<br />and replacement costs for that purpose which are estimated to be $26,000.
<br />
<br />The interest during construction on municipal and industrial water is
<br />estimated to be $569,000 at 3.222 percent current interest rate. The
<br />actual rate of interest to be used, however, would depend on the rate
<br />certified by the Secretary of the Treasury as applicable in the fiscal
<br />year in which construction is initiated, as provided by the Storage
<br />Project Act, as amended by the J~t of June 27, 1960 (74 Stat. 225).
<br />
<br />The separable project costs allocated to recreation and fish ~nd
<br />wildlife enhancement ($985,000) will be shared between the Federal
<br />Government and the State of Colorado 'according to the provisions of
<br />the Federal Water Project Recreation Act (P.L. 89-72). In addition to
<br />-operation, maintenance, and replacement costs of $31,000, the State of
<br />
<br />8
<br />
<br />
|