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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 />Upon approval of the above described loan and grant, the Town would be <br />required to repay the C.W.C.B. loan at a rat~ of $7,210 annually, along with <br />their current long term debt [If $3,330.00 per year. After constr'lction of the <br />recommended improvements, the Town would have a $10,540.00 annual long term <br /> <br />debt payment to meet each year from water sale revenues. <br /> <br />If the construction of the water system improvements is delayed by <br />three years, the inflation factors currently in effect would increas~ the <br />costs to approximately $380,000.00 (7%/year). An option for financing for <br /> <br />this delayed construction would be a loan from the Colorado Water Conservation <br /> <br />Board of $190,000, 40 year repayment at 3% interest. The rema'ining portion <br /> <br />of the construction cost, $190,000, would have to be obtained from a grant <br /> <br />from Federal Agencies, probably FmHA. <br /> <br />It is further recommended that the Town raise the current water rates to <br />bring in the additional revenue needed to meet the expenses. The recommend'd <br /> <br />rate schedule which should bring in the needed revenue to meet the water <br />system costs is as follows: <br /> <br />Water Sales <br /> <br />Minimum monthly water utility charge <br />First 5,000 gallons <br /> <br />Extra gallon charge <br /> <br />The Town's water users should also be <br /> <br />$7.00 <br /> <br />0.75/1000 gallons <br />billed at the same rate as above <br /> <br />during the winter months. The current tap fees for new water service is <br /> <br />given below. This fee schedule is consistent with costs and can be maintained <br /> <br />at the same level. <br /> <br />4 <br />