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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />"TABLE4 COMPARISONOFALTERNkTIVES <br /> <br /> . , "'^' .. <br /> , ..... "(o~rr;' ...Annual .... Aral'l.l!~r ' An.nl!i!I'.' <br />, ,:. <br /> . . '-, p <br />Alternative. :~apital ~ VlIJ:jtService O&M COst CoSt <br />With RWlS $519.300 $30,000 $11,000 $41,000 <br />Without RWlS $1.214.300 $70.200 $51,500 $121,700 <br /> <br />The analysis in Table 4 indicates that the annual cost of the Without RWIS Alternative <br />is almost three times the annual cost of the With RWIS Alternative. In other words, the <br />RWIS appears to be very cost effective when evaluated in terms of the next most likely <br />alternative. <br /> <br />Financial Analvses <br />The Town is proposing to finance the RWIS project through a grant of $175.000 which it <br />has received from the Department of Local Affairs (DLA) and through a loan for <br />approximately $344,300 from the CWCB. The project was recommended by the <br />Colorado Water Conservation Board in November 1994 for a 4,0 percent, 30-year loan <br />contingent upon completion of a feasibility study and a determination that the selected <br />project is feasible and upon CWCB staff evaluation of the Town's financial condition and <br />ability to pay. <br /> <br />In the November 1992 election, the voters of Silt approved the acceptance and <br />expenditure of the $175,000 DLA grant and authorized up to $400,000 in debt for the <br />financing of the RWIS. In addition, the Town has instituted: (1) an irrigation enterprise <br />fund for all revenues and expenditures associated with the RWIS and (2) a one percent <br />increase in the Town's use tax on building materials and new vehicles sold with revenues <br />to be applied to the RWIS project. <br /> <br />The Town has also established a fee structure for the project which requires all existing <br />customers to pay an initial, one-time tap fee of $100 and a service fee averaging $115 per <br />year for those who partiCipate in the RWIS. Use of the RWIS is not mandatory but the <br />fees for the potable water system and for the RWIS have. been structured in such a way <br /> <br />9 <br />