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<br />f <br />, <br /> <br />002251 <br /> <br />It is the firm opinion of the board staff that before multi- <br />million dollar expenditures are authorized for water storage, trans- <br />mission and treatment facilities, a reasonably firm water supply must <br />be secured. The staff therefore recornrnends that the cost of acquiring <br />a firm water supply to the extent of not less than 3,000 acre-feet <br />annually be included in the project cost as an initial expenditure. <br />3. Reservoir size. <br /> <br />The project plan recornrnends the construction of a reservoir with <br /> <br /> <br />a capacity of 17,500 acre-feet. An alternate plan is presented with <br /> <br /> <br />a reservoir capacity of 12,000 acre-feet, It is entirely possible that <br /> <br />. <br />some intermediate size would be preferable. However, the project <br />report does not contain sufficient data upon which to base a sound <br />decision at this time. The size of the reservoir is obviously a matter <br />which must be determined before any final plan can be approved. <br />4. Financing. <br />One of the most difficult and time-consuming areas of water project <br />construction is in project financing. Even after the project has been <br />completed and approved, a more difficult problem of arranging adequate <br />financing still remains. The project report adequately describes the <br />financial picture of the cornrnunities involved in the Coal Creek project. <br />Operating and amortization budgets are discussed and provide a basis <br />for determining economic feasibility. However, it is not the respon- <br />sibility of the consultants to complete arrangements for project <br />financing. This is a decision which must be made by the sponsoring <br />agencies, and, in the event state funds are involved, by the Colorado <br />Water Conservation Board. <br /> <br />Before an operating and amortization budget can be prepared, it <br /> <br />-8- <br />