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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 />-,' <br /> <br />2.3 FINANCIAL STATUS <br /> <br />Copies of Beaver Reservoir Company Annual Reports for 1989-1990 and 1991-1992 are <br />contained in Appendix C. The annual reports indicate that the average operation and <br />maintenance costs are approximately $10,000 per year. The Beaver Reservoir Company <br />also has an outstanding FHA loan with a payment requirement of $4,000 per year. <br /> <br />2.4 WATER SUPPLY FACILITIES AND PHYSICAL ASSETS <br /> <br />Beaver Reservoir is the only reservoir presently in the BRC's holdings and is the only <br />physical asset of the company. The dam is anearthfill dam, approximately 113 feet high <br />and 870 feet long, and stores 1,600 acre-feet of water for irrigation use. The reservoir <br />water is routed through the ditch and .deliverysystems owned and operated by the <br />Minnesota Canal and Reservoir CompaIlY and the Turner Ditch Company. In addition, <br />Beaver Reservoir water can be traded for Lone .Cabin Reservoir water in the area <br /> <br />serviced by the Lone Cabin Ditch. --. <br /> <br />"~ <br /> <br />'. <br />I/O ", <br /> <br />-' ------ <br /> <br />.-'.-'-. <br /> <br />" <br /> <br />23067/Rl.2 09.03-93(9:35am)/RPT <br /> <br />2-2 <br />