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<br />The above financial arrangement would require that Basalt <br /> <br />pay the state $30,312 per year for forty years, for a total repay- <br /> <br />ment of $1,212,480. <br /> <br />The current water rates within the town are $750 for each tap <br /> <br />fee and a quarterly service rate of $19.50 per residence. These <br /> <br />figures would increase to $1,000 per tap and $24.75 per residence <br /> <br />each quarter with the project. <br /> <br />It is recommended that the project as herein described be <br /> <br />constructed by the Board to the extent of $600,000, with the pro- <br /> <br />vision that the town of Basalt furnish additional funding to the <br /> <br />extent of $610,000 and that the project be recommended and submitted <br /> <br />to the Colorado General Assembly during the 1978 session as priority <br /> <br />number eight. <br /> <br />FLS:tam <br /> <br />~~u <br />~~ <br /> <br />-4- <br />