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I I I I I I I I I I I I I I I I I I I Recommended Alternative The recommended alternative (4-5) would be constructed in three phases. The first phase would consist of 8620 feet of 42-inch and 13,200 feet of 36-inch pipeline, The larger line would be extended down Plateau Canyon to the Colorado River to bypass the tunnel. It would provide continued service in the event of a tunnel collapse. The smaller pipeline would be built in the area of Highway 65 to be enlarged and reconstructed. Plateau Creek would be armored to protect the 24-inch pipeline. The second and third phases would each add 2~ miles of 36-inch pipeline and necessary armoring of Plateau Creek. At the projected rate of growth, the first phase would be constructed in 1990, the second phase in 1994, and the third phase in 2000. The first phase would increase the delivery capacity from 11 MGD to 11.7 MGD. The second phase would increase the capacity to 12 MGD, and the third to 14.6 MGD; the expected demand in the year 2006. The cost of the various elements of the project, at the time they would be implemented, is as follows: Year Project Feature Estimated Cost at Time of Implementation 1989 Preconstruction engineering, permitting and ROW acquisition Phase 1 Construction Phase 2 Construction Phase 3 Construction $ 1,481,100 7,069,490 3,514,465 4,709,580 1990 1994 2000 The financial plan developed to pay for the project anticipates borrowing half of the funds from the Colorado Water Conservation Board (CWCB) at an interest rate of 5~% over a forty-year period. The remaining funds would be generated by issuing bonds at an interest rate of 8~%. It was assumed that the CWCB funds would be secured in three phases to meet the construction schedule. Due to the cost of issuing bonds, the entire bond issue of $8,523,838 would be secured at the beginning..,of the project. A summary of the payment schedule for the bonds and CWCB loans is presented in Table 8-8-5.