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I I I I I I I I I I I I I I I I I I I 1. County sales tax, which is collected by Mesa County from various businesses located within the Town and returned to the Town based upon an inter-government agreement. 2. Service fees, which are the monthly fees charged to existing customers. 3. Connection fees, which are fees charged for connecting new taps (covers labor and materials). 4. Tap fees (plant investment fees). In addition to these sources of revenue, the Town obtains a certain amount of income for the Utility Fund from interest on savings, penalty fees, and other miscellaneous sources. Since enterprise funds cannot assess a mill levy, there is no potential for income from that category. Expenses include all costs for operation and maintenance of the physical infrastructure of the system, as well as costs for billing, maintaining records and legal and accounting services. All annual payments for servicing debt related to capital improvement projects on the water system are also paid from the Utility Fund. Tables ill-8 and ill-9 summarize revenues and expenses for the Utility Fund for the years 1994, 1995 and 1996. The tables show that revenues are substantially greater than expenditures 2. Rxisting Debt and Cash Reserves. Improvements for long range capital improvement projects have been financed in part by revenue bonds, grants and low interest loans from government entities. Water bonds payable by the Town of Palisade as of March 30, 1995 are listed in Table ill-to. Year Table ill-to Debt Repayment Gen. Oblig. Cabin Res. Water Bonds ewCR 1997 1998 1999 2000 2001- 2013 542,142 544,205 540,627 431,025 . o 50,523 50,523 50,523 50,523 50,523 4.0% Interest Rates 4.75-6.50% ill-I 2 Total Annual Payments 592,665 594,728 591,150 481,548 50,528