C153718 Contract - Laserfiche WebLink

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The maximum principal amount of the proposed District bonded debt, the maximum annual repayment cost thereof and the maximu:u total repayment cost thereof are as follows: Maximum princinal Amount Maximum Annual Renavment Cost Maximum Total Re~avrnent Cost $3,000,000 $264,830 $5,663,5i6 The principal balance of total current District bonded. debt and its r.laximum annual repayment cost and remaining total District repayment cost are as follows: principal Balance Maximum Annual ReDavment Cost Remaining Total ReDavrnent Cost $1,040,000 $202,785 $1,603,285 A sU!1l..ary of written conunents in favor of Question filed with the District's Designated Election Official by - octobe~ 6, 1995, is as follows: The eligible electors of Morgan county Quality water District should vote in favor of the proposed $3,000,000 revenue bonds because it will enable the District to purchase certain water ri'ihts presently under lease to the District, thereby assuring the District and its' customers of future availability of water supply and control over cost increases. The District was formed in 1976 and began providing water service to its custooers in the Fall.of 1978. The District initially supplied 587 acre feet of wa ter to 885 taps. Those numbers have grown, and in 1994 the District supplied 1334 acre feet of water to the equivalent of 2019 taps. The principal source of the District's water supply is the Hay Gulch aquifer. In 1977, the District entered into a Water Lease with the o'.mers of the Krause Ranch to lease this water supply, The 1977 Water Lease provides that the District must pay for a minimum of 1000 acre feet per year and that the price f?r water leased thereunder liould be adjusted every flve years .based on the Consumer Price Index. Based on these automatic increases, the price oer thousand gallons of water has increased 1.40%. -For each of the first five years, the District's paywent under the