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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 />As is the case of Option 1, Option 2 - Partial Depth Slurry Wall has the potentlai benefit <br />increasing the useful life of the dam. It also has the potential benefit of providing <br />holdover storage from year to year. Optimally, an additional 100 acre feet per year of <br />safe yield could be achieved. <br /> <br />If it is assumed that full utUization of the reservoir would result from construction of both <br />Option 1 and Option 2, the resulting cost of firm yield becomes $1,522,050 plus $40,000 <br />(feasibility study) divided by 530, or $2,947 per acre foot of safe yield. <br /> <br />7.2 - REPAYMENT CAPACITY <br /> <br />The City's repayment capacity must be assured in order to obtain funds from the Colorado <br />Water Conservation Board Construction Fund. Such monies must be repaid to the fund with <br />interest within 40 years after completion of the project. <br /> <br />TLa City's sources of money inc!ude bor:ds, the capital recover;, :ur.d, or a wa,er ran i~croas3. <br />Water rates were last raised April 1, 1989. The City's AA bond rating a;lows them to obtain <br />money at an estimated 8 percent. Greeley wHI probably finance their 50 percent share of the <br />proJect cost by bond sales. Fifty percent of the cost will come from the CWCB Construction <br />Fund at a rate of 5 percent The capital recovery fund is earmarked for the repiacement of <br />depreciated capital facilities. It is probably not the funding method of choice. <br /> <br />The City's water rate increase in 1989 was the first increase since 1985. The current rates are <br />shown on Table 7.1. <br /> <br />TABlE 7_1 <br />aTY OF GREElEY METERED CUSTOMER RATE SCHEDULE <br /> <br />I .................i... a. Uf'R............J. E..~L.'f.... RATE <i <br />...... . ......... ...... i... ....... i. <br />.-'..:....':. :......:.-.........'..:........'.::..... <br />.. .. <br />.", ., "". <br /> <br />1 st 30,000 Gallons <br />Next 120,000 Gallons <br />Allover 150,000 Gallons <br /> <br />RATES ESTABUSHED IN 1989 <br />i. PER 1000 GALLONS.,. <br /> <br />$ 1.15 <br />0.95 <br />0.82 <br /> <br />7-2 <br />