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<br />." <br /> <br />The tenth column is titled, "Balance For Other Projects". This column <br /> <br />shows the amount of money available from sales tax revenues which would not <br /> <br />be required to finance the water project. <br /> <br />The amortization schedules were not projected beyond a fifteen year <br /> <br />period due to lack of figures and knowledge of exactly what is going to <br /> <br />take place in that period of time. <br /> <br />Table XIV is the amortization schedule for Construction Alternate One. <br /> <br />This alternate is estimated to cost $827,000. Since it would require an <br /> <br />annual repayment of $81,222 for a twenty year loan at 7~ percent interest, <br /> <br />or an annual repayment of $90,800 for a fifteen year loan at 7 percent in- <br /> <br />terest, the new bond retirement is based on 50 percent of the funds being <br /> <br />borrowed from private financing over a twenty year period at 7~ percent <br /> <br />interest, with an average annual repayment of $40,561. The other 50 per- <br /> <br />cent of the funds required could be borrowed from the Colorado Water Con- <br /> <br />servation Board over a thirty year period at 3 percent interest for an <br /> <br />average annual repayment of $21,096, which would give a total new bond <br /> <br />retirement of $61,657 annually. <br /> <br />In Table lIon page 7 the current bonded indebtedness of the town <br /> <br /> <br />of Eagle is tabulated. As of February 1, 1976, there is a total bonded <br /> <br /> <br />indebtedness of $356,000. This total indebtedness is scheduled to be <br /> <br /> <br />repaid by August 1988. <br />The amortization schedule is ~ased on a growth projection as shown <br />in Exhibit A at the end of this report and on Table VI shown earlier in <br />this report. If no growth were to occur the town of Eagle would find <br /> <br />themselves in the red in the amount of $11,663 per year for construction <br /> <br />alternate number one. <br /> <br />. <br /> <br />'- <br /> <br />. <br /> <br />- 68 - <br /> <br />. <br /> <br />---- <br />